My general advice for the next president of the United States is that less government is better than more. Regulation of almost everything, at the federal, state, and local levels, is choking the economy. It’s choking business formation, and it’s choking listings of stocks on stock exchanges. The number of listed stocks has dropped by about 30 percent since 2000. All regulation should have an expiration date, so Congress can judge from experience whether the costs justify the benefits. And why stop there? Perhaps all or at least most laws should have expiration dates, and exceptions should be rare. I would like taxpayers to have more direct say (i.e., a menu of choices) in allocating how their tax dollars are spent. Lest this seem silly, we do it now, at least in part, with the charitable tax deduction. I think of that deduction as the Feds allowing me to allocate the tax I would otherwise be paying them to my favorite charities instead. This is better than raising taxes and having the Feds allocate the tax dollars to their choice of charities, which is basically the system in Europe. (2016) source Unverified
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replying to Eugene F. Fama
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