FINANCIAL TIMES: The Bush-era tax cuts for the rich should be allowed to expire at the end of the year, says Warren Buffett, the billionaire investor, adding that, if anything, the wealthiest Americans should pay even more in taxes.
Mr Buffett scotched suggestions, promoted by Republicans, that extending tax cuts for the rich would lead to more investment and have a multiplier effect across the economy at a time when growth remains insipid.
“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,” Mr Buffett told ABC News’ Christiane Amanpour in an interview that will air this Sunday…. (more)
