I'm avoiding cleaning up for a party this weekend, by surfing the net. I've always been suspicious about Warren Buffett. Somebody that famous for merely being rich (most people would say he's smart as well, I just think he's rich) I don't tend to like on general principle. However, this op-ed in the Washington Post has really caused me to think twice about the guy. I think his entire argument about the dividend tax break is right on the money. Think about it this way. If you give rich people a tax break while the economy is down, they're not going to rush out and spend it, because they don't need to. They can wait for an upturn in the economy before buying a house, or investing in a company. However, if you give a middle-class person a tax break, they're far more likely to spend it immediately, because the car's on it's last legs, and they need a new one, or they just had a baby, and they need a bigger house, or on any one of a hundred things they've been putting off buying because they just didn't have the money before. I don't know why I'm so obsessed with the US Economy, I just am


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29 May 2003