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.
The new economic ideas of John Maynard Keynes were much in fashion in that period; this new book judged them rather harshly. The dissenter from the growing consensus around Keynes was Friedrich von Hayek, an economist from Vienna.