"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." - billionaire investor Warren Buffet, 11/21/10 on ABC's This Week
Sunday, November 21, 2010
Quote of the Day
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3 comments:
Great mindset from Buffet...
"Give us more money..."
It is THEIR money. It is NOT the government's to give to them...
You're right Dave. The damned government (and I mean God damned government) should have absolute control of all of our money, health care, education, financial institutions, major corporations, etc. etc. etc. After all they know better and have done such a fantastic job of managing things thus far.
They are monetizing our debt which is typically the last thing banana republics and third world countries do prior to the total collapse of their currency.
It's interesting that without any proof of success (and mountains of evidence of failure) that the default right wing economic posture is always on trickle down. I know facts are things that conservatives don't like, but slashing taxes on millionaires does not provide more revenue or jobs. We have 30 years of evidence on that.
Can you tax and spend your way out of a recession? Actually, yes. The 1990s and the Clinton administration proved it. The GOP, naturally, voted in lockstep against it.
The evidence of the last half century or so shows that when conservatives are in charge of government, the deficit explodes and the income gap between rich and middle class does as well. When Democrats are in control, deficits are reduced, surpluses are created, and the income gap closes.
I know it sucks to be wrong so often, but since the right never owns up to its failures, I'm afraid I'm going to have to keep repeating the truth.
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