Not that this will matter to the congressional Republicans, whose agenda is not actually improving the economy nor listening to economists, the wealthiest 2%, or any other American, come to that. But the country's wealthiest men, Warren Buffett and Bill Gates, dismiss the calls of Republicans to extend the Bush tax cuts for the wealthiest 2% of Americans and say that the wealthy SHOULD pay more taxes.
Warren Buffett, Chairman and CEO of Berkshire Hathaway, said that the rich should be paying more taxes and that the Bush-era tax cuts for the wealthy should be left to expire at the end of December.
"If anything, taxes for the lower and middle class and maybe even the upper middle class should even probably be cut further," Buffett said. "But 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."
The billionaire brushed aside Republican arguments that letting tax cuts expire for the wealthy would hurt economic growth.
"They say you have to keep those tax cuts, even on the very wealthy, because that is what energizes business and capitalism," anchor Amanpour said.
"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," Buffett explained.
It's the simplest of messages and yet sadly not on the tongues of any Democratic politicians (including the President): if tax cuts worked, why isn't the economy better right now? Gates also expressed disappointment in the failure of the ballot initiative 1098 that his father, Bill Gates Senior, was very publicly endorsing, to raise taxes on the wealthiest citizens in Washington state, showing once again how easily the majority of Americans will vote against their own interests, especially in the face of big money advertising persuasions.