"Americans are rapidly losing faith in the ability of Congress to deal with our country's fiscal problems. Only action that is immediate, real and very substantial will prevent that doubt from morphing into hopelessness," Buffett said.
Buffett said higher taxes for the rich will not discourage investment.
"I have worked with investors for 60 years and I have yet to see anyone - not even when capital gains rates were 39.9 percent in 1976-77 - shy away from a sensible investment because of the tax rate on the potential gain," he said
"People invest to make money, and potential taxes have never scared them off."
This Reuters link.
It seems clear and persuasive, you get to keep and enjoy sixty percent of a marginal score gambling, who wouldn't do it? Yet, the propaganda lore has been that the government taxing forty percent on the margin would make a person go away from that sixty percent of a big score, and its luxuriant possibilities in spending or gambling further for more.
Huh? That simply fails to make sense.
Yet it is a cherished manufactured lie of the likes of Steve Forbes or the Koch brothers, ones who've never been scared off of making a buck and keeping the lion's share.
Propagandizing such an obvious lie ad nauseum fails to make the lie into a truth. It deludes a large number of small minds, but that is quite different from being truthful. Look at the Tea Party minions, and their big-buck puppeteers. Playing a pack of easily misled puppets is not any thinking person's equivalent of being truthful. Nor is it decent, to any moral person.