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November 22, 2010

Warren Buffett: Trickle-Down Economics Don’t Work
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In other economic news, billionaire investor Warren Buffett has told ABC
News that the rich should be paying a lot more in taxes and that the
Bush-era tax cuts for the wealthy should be left to expire at the end of
December. During the interview, Buffett also dismissed Republican
arguments that letting tax cuts expire for the wealthy would hurt
economic growth.

Warren Buffett: "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 ... 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."



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