Sunday, November 21, 2010

Warren Buffett
" Trickle-Down DIDN'T WORK ! "

Billionaire Warren Buffett has been speaking out regarding whether the tax cuts for the rich are in fact necessary to drive unemployment down as claimed by the right-wing and in an interesting twist, the richest man in America not only states that all millionaires should pay more in taxes...but that Americans should wake up to the fact that the Reagan trickle-down theory has not worked for the last 10 years. Huffington Post reports:
" Buffett isn't the only billionaire who has argued for higher taxes. Both Microsoft co-founder Bill Gates and his father, Bill Gates, Sr., recently came out in support of a Washington state measure to "create a 5 percent tax rate on annual income exceeding $200,000 for individuals and $400,000 for couples, and a 9 percent tax rate on income that tops $500,000 for individuals and $1 million for couples."

It's about time someone rich was honest about the failed Reagan theory which is simply heading America further and further toward economic collapse on the backs of middle America. And if tax cuts for the rich were the key to creating jobs then where are the jobs ? The rich have had the tax cuts for 10 YEARS...SHOW ME THE JOBS !

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