Thursday, September 09, 2010

Bill Gates Jr. Has Problem With Yes Or No Answer On Tax Cuts

In and article for McClatchey News Bill Gates Jr. splits the baby on letting tax cuts for rich expire. What kind of billionaire double speak is this Billy Boy? Gates makes the point that rich people tend not to spend or reinvest the tax cuts when they get them since their sitting on piles of money already. But then again additional taxes collected could help reduce the deficits should the tax cuts be allowed to expire on the wealthy. There is some filler in the story about income distribution that says the top one percent of the rich control nearly a quarter of the nation's wealth nowadays. So those piles of money that's not getting spent by the wealthy are apparently larger then ever.

Oh shit maybe that's the problem?

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