Thanks to John Maynard Keynes, Liberals believe that savings hurt the economy because savings are effectively hoarded, not spent, and thus are of no benefit to the economy. I call this the "Scrooge McDuck Theory of Wealth: the idea that billionaires have city-block-sized bank vaults filled with cash the rich swim around in.
This silly view is as much a fantasy as Scrooge McDuck himself. (Buffett’s guilt-ridden suggestion is a topic for later.)
3hourtour Premium Member over 12 years ago
..not that you sent him one last year…
Francis Lapeyre Premium Member over 12 years ago
Haven’t seen old Scrooge McDuck in ages.
sfreader1 over 12 years ago
If the Postal Service closes, he won’t be able to send cards to anyone!
demorodney over 12 years ago
If we can’t tax the rich, can we eat them?
Justice22 over 12 years ago
………. and nine out of ten of Buffet’s cohorts say the same.
kaigun over 12 years ago
Warren Buffet is free to contribute every cent he has to the government. Why doesn’t he?
muscleheadbob over 12 years ago
more of this “punish the successful” crap. i agree, let warren do what he wants with HIS money. leave mine in my pocket.
Anweir88 over 12 years ago
Justice22 – no it wouldn’t. You could tax that top 5% at 100% and it wouldn’t even dent to current budget, much less fix the deficit.
pschearer Premium Member over 12 years ago
Thanks to John Maynard Keynes, Liberals believe that savings hurt the economy because savings are effectively hoarded, not spent, and thus are of no benefit to the economy. I call this the "Scrooge McDuck Theory of Wealth: the idea that billionaires have city-block-sized bank vaults filled with cash the rich swim around in.
This silly view is as much a fantasy as Scrooge McDuck himself. (Buffett’s guilt-ridden suggestion is a topic for later.)