Milton Friedman Quote
At the end of World War II, we had wage and price controls. Under wartime inflationary conditions, many employers found it difficult to recruit employees. To get around the limitations of wage control, many began to offer health care as a fringe benefit to attract workers. As a new benefit, it took some years for the Internal Revenue Service to get around to requiring the cost of the medical care to be included in the reported taxable income of the employees. By the time it did, workers had come to regard nontaxable medical care provided by the employer as a right—or should I say entitlement? They raised such a big political fuss that Congress legislated nontaxable status for employer-provided medical care.
At the end of World War II, we had wage and price controls. Under wartime inflationary conditions, many employers found it difficult to recruit employees. To get around the limitations of wage control, many began to offer health care as a fringe benefit to attract workers. As a new benefit, it took some years for the Internal Revenue Service to get around to requiring the cost of the medical care to be included in the reported taxable income of the employees. By the time it did, workers had come to regard nontaxable medical care provided by the employer as a right—or should I say entitlement? They raised such a big political fuss that Congress legislated nontaxable status for employer-provided medical care.
Related Quotes
If I have one piece of advice to give you all about what to search for in your quest for What Next, it's to find where the line blurs between hard work and happiness for you. To find that thing where...
To begin to know ourselves we must have sincere conversations with ourselves as if with a good friend. We must answer without reserve, listen without judgement, and accept without condition. That is s...