The Rich Must Pay their Fair Share III

Why is it that we don’t just do the obvious!
by Charlie Leck

Back in November of the past year, Warren Buffet, of the Berkshire Hathaway Company, told Christiane Amanpour, of the This Week show, that the wealthy should be paying more taxes. [See this Bloomberg News story about the interview and watch a video of Buffet’s discussion with Amanpour.]

"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."

Buffet doesn’t buy the argument that the economy will suffer if taxes are raised on the wealthy. Amanpour suggested that “they” keep saying that the lower taxes for the wealthy “energizes business and capitalism.” Buffet replied with firmness.

"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,…"

It’s quite silly that we shall try to solve this debt crisis on the backs of those who can least afford to give or have resources taken from them.

Buffet is a multi-billionaire who is considered one of the wealthiest people in the world. He has pledged to give half of his wealth away.

“If anything,” Buffet said, “taxes for the lower and middle class and maybe even the upper middle class should even probably be cut further… But I think 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.”

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