For example, assume that Ken currently has $10,000 in annual Social Security benefits, with 85 percent of those benefits taxed at a marginal rate of 15 percent. The tax bill on his Social Security benefits is $1,275 (= $10,000Ã0.85Ã0.15).
Friedrich August von Hayek CH (8 May 1899 - 23 March 1992) was an Austrian, later British, economist and philosopher most famous for his defense of classical liberalism.
1 [Hayek] became [in his later years] the dominant intellectual influence of the last quarter of the twentieth century. 2  Robert Skidelsky, in a review of Hayek: The Iron Cage of Liberty in The Times Literary Supplement (20 September 1996). 3  Hayek, in my view, is the leading economic thinker of the 20th century.