Wheat from the Chaff

Buffett Tells ABC Rich Americans Should Be Paying "A Lot More in Taxes"

Billionaire Warren Buffett has come out and said the equivalent of 2+2=4. Or =666, if you're a neo-liberal hell bent on even more tax cuts.

In a recent interview, Buffett said, “I think that people at the high end -- people like myself -- should be paying a lot more in taxes. We have it better than we’ve ever had it.” In opposition to the trickle-down economics which has pervaded American thinking for decades (and particularly the massive George Bush tax-cut agenda), Buffett responded, "The rich are always going to say that, you know, just give us more money and we’ll go out and spend more and then it will all trickle down to the rest of you. But that has not worked the last 10 years, and I hope the American public is catching on.”

Of course, don't feel too badly for the wealthy. Even the Obama administration is promoting a "compromise". The upcoming tax cuts promised by the Bush Administration will still go through, up to the first $250,000. This means that the poor, working class and middle class will not be able to take full advantage of the proposed tax cut. You guessed it: only the upper middle class and wealthy can fully utilize the benefits.