Patrick Bet-David
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Appearances Over Time
Podcast Appearances
And he said, it's the biggest mistake I made in my career.
Politician or business guy?
Can you verify that, Rob?
Milton Friedman is the guy that came up with the tax withholding.
And then he says, why don't we do this?
Let's just kind of do it.
Because people used to pay their tax on their taxes.
Why don't we come up with this?
Milton Friedman helped invent the modern income tax withholding system in the early 40s.
And he said it's the worst idea.
At the end of his life, he was like, this is one of the worst ideas I came up with.
There is some logic behind it because they had a hard time going and collecting.
And then it's like, why don't we just make it mandatory?
And it's like, what a great idea, Milton.