Warren Buffett again: raise my taxes
I think that people at the high end - people like myself - should be paying a lot more more taxes. We have it better than we have ever had it.
The rich are always going to say 'just give us more money, we will go out and spend more, and it will all trickle down to the rest of you. But that has not worked in the last 10 years, and I hope that the American public is catching on."
(watch it only if you want to wade through 30 seconds of noisy advertising first, though)
And on trickle down, don't forget the old J.K. Galbraith quote:
“It is the 'horse and sparrow' theory of income distribution and its taxation. If you feed a horse enough oats, some will pass through to the road for the sparrows."And on the big tax cut debate, read David Cay Johnston's latest, entitled Call Their Bluff, Mr. President. (hat tip: Tax Prof.)