Kotlikoff Running For President

MOZART325

Social security guru Larry Kotlikoff is running for president as a write-in candidate. He has published a free e-book with his platform. His ideas seem very friendly to investors-
1) Eliminate personal income tax and capital gains tax.
2) Instead use "business cash flow" tax (similar to VAT) and progressive personal consumption tax. (Only about 20% of the public would have to pay this).
3) Many other interesting ideas about health care, social security, education etc. I haven't had time to read it all yet.

Since I'm approaching the age when I will have to take minimum required withdrawals from IRAs, I particularly like #1 above :>)

Ted

@MOZART325: Thanks for the news, here is a Bloomberg article on Kotlikoff. #1 for me too !
Regards,
Ted
http://www.bloomberg.com/news/articles/2016-05-18/larry-kotlikoff-economist-with-long-odds-joins-the-presidential-fray

Old_Joe

Shopping at Safeway last Saturday I saw a T-shirt that made me laugh out loud, somewhat startling the rather good-sized man who was wearing it. Black shirt, easily read large white lettering: "I already hate our next president". Pretty well says it all.

"Me too", I told him, and he just chuckled.

davidrmoran

An interesting guy in many respects, but wrong about federal debt, and a chaired economist no less:

http://delong.typepad.com/sdj/2014/08/oh-dear-larry-kotlikoff-fails-to-read.html (second half of column)

bee

The elimination of income tax by substituting a VAT tax would not seat well with Roth IRA owners unless all previous income tax paid for these Roth investments could be clawed back, along with any opportunity costs for those collected tax dollars. Just saying.

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MOZART325

Perhaps there can be a compromise where the income tax is gradually phased out and the VAT is gradually phased in over many years. They would also increase the FICA cap gradually but at a more rapid pace than in the past (say 15% a year).

hank

Can't resist. Here's what one right leaning editorial board member at Barron's wrote recently about the election. Some of the quotes from H.L. Mencken are interesting. (First link from Barron's.)

Editorial by Thomas G. Donlan:: https://www.google.com/search?sclient=tablet-gws&site=&source=hp&q=Trump:+The+candidate+if+Republican+Disunity&oq=Trump:+The+candidate+if+Republican+Disunity&gs_l=tablet-gws.12..30i10.3801.20675.0.22173.43.42.0.1.1.0.322.6878.0j10j20j1.31.0....0...1c.1.64.tablet-gws..11.25.5434...0j0j0i131j0i22i30j0i22i10i30.pGU_o6SQWFU

davidrmoran

Nice, nice analysis.
Looking at Donlan's articles and bio I am not seeing 'right-leaning'. Can you elaborate?

hank

@davidmoran

Glad you liked the analysis. 3 or 4 great zingers from H.L. Mencken!

I was in error in not correctly referencing Donlan. He's actually Barron's Editorial Page Editor.
Hmm ... You have me wondering about Donlan's political leanings. Barron's is published by the WSJ which is a division of News Corp. Correct? News Corp is largely owned by the Murdoch family. Correct?

My sense from reading Barron's print edition weekly is that their editorial page is pretty conservative. But as for Donlon's own personal slant ... I'm not sure now. If I can be more definitive after reading some of his other editorials, I'll get back to you.

davidrmoran

I know about ownership. You said he himself was rightleaning. I don't see that at all.

msf

What might help are comments and reviews of his 2008 book, A World of Wealth, How Capitalism Turns Profits into Progress, FT Press (2008). One finds general agreement on his conservative, perhaps libertarian leanings, and clear writing.

"He's a conservative by modern definition, and his appreciation for classical liberalism always shines through. His writing is straightforward, articulate, and not blinded by partisan loyalty. Donlan will criticize Democrats and Republicans who have strayed away from the principles of small government and free market ideology."
The Weekly Standard, Nov 24, 2008.

"A convinced, and often convincing, champion of free trade, free markets, deregulation and investment."
https://www.getabstract.com/fr/resume/economie-et-politique/a-world-of-wealth/10906

"To Donlan it’s a simple 80/20 concept; as in 'if the 20 percent who create wealth are left unfettered and lightly taxed, they and their investments will create more wealth, so the benefits will trickle down to the rest of society in the form of wages and profits.'”
http://www.realclearmarkets.com/articles/2008/07/review_of_thomas_donlans_a_wor.html

davidrmoran

Right; I meant right in the current usage; shoulda been clearer.

BenWP

@Maurice. Thanks for the "you can bet your sweet nippy," remark. Oldsters remember Laugh In with fondness. Where has all the humor gone?

Mark

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