That's exactly what Warren Buffet, Chairman and CEO of Berkshire Hathaway (and one of America's richest men) suggested in an interview with ABC News' Christiane Amanpour to be aired during Thanksgiving weekend. What a novel idea! Said Buffet, "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."
This Sunday's episode of "This Week" will be focused on The Giving Pledge, which is a major philanthropic effort spearheaded by Buffet, and Bill and Melinda Gates.
Buffet stated that tax rates for the lower and middle-bracket classes should be cut, but that taxes for the wealthy should be increased. Upon Amanpour's prompt that popular thinking dictates that tax cuts for the wealthy energizes business & capitalism, Buffet explained the following:
"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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