Re: The Buffett falacy!
posted at 11/27/2012 11:29 AM EST
In response to 12-Angry-Men's comment:
It just isn't Buffett.
But all these economists must be wrong just because you don't like what they say.
Former Republican speechwriter and noted conservative economist Ben Stein may not be invited back on Fox & Friends any time soon after he dropped a megaton truth bomb in the studio earlier this morning.
Asked by Gretchen Carlson what needs to be done in order to fix the economy, Stein said unequivocally that taxes need to be increased for upper-echelon earners.
"I hate to say this on Fox, and I hope I'll be allowed to leave here alive, but I don't think there is anyway we can cut spending enough to make a meaningful difference," Stein said. "We going to have to raise taxes on very rich people, people with incomes of like say, 2, 3 million a year and up, and then slowly move it down."
Thinking he may have misheard the Ferris Bueller star, Steve Doocy asked Stein if he doesn't think "Washington just has a spending problem."
"I do not think they just have a spending problem," Stein replied. "I think they also have a too-low taxes problem. And while all due respect to Fox, whom I love like brothers and sisters, the taxes are too low."
I agree with him!!
But to raise taxes without draconian cuts in govt spending is a frivolous act and will do nothing!!