Friedman, Amey on the Possible Impact of Tax Reform

The transcript discusses the limited impact of economic policies on productivity, highlighting how stock market benefits primarily the wealthy, exacerbating income inequality. It addresses full employment and the Central Bank's role in wage inflation. The conversation shifts to the deficit-to-GDP ratio and the potential effects of tax cuts, concluding with skepticism about significant GDP growth due to long-term debt and modest fiscal impacts.

What is the speaker's perspective on the relationship between stock market support and income inequality?

According to the speaker, what are the potential reasons for the lack of wage inflation despite full employment?

What does the speaker suggest about the impact of the tax cut bill on GDP?

How does the speaker characterize the expected GDP impulse from the proposed package?

What is the speaker's overall conclusion regarding the potential for significant economic transformation from the proposed measures?