“There’s been class warfare going on for the last 20 years, and my class has won.”-Warren Buffett, legendary investor

In the U.S. Congress Republicans have been misquoting Warren Buffett, saying he’s not really for the proposed tax increase (aka The Buffett Rule) on the Elites.  Oh, he’s for it alright.

In a recent interview with a CNN reporter Buffett was asked how an increase in taxes, on the extreme minority of rich elites, would help the government’s debt problem?  Buffett admitted: “It probably would come in at 20 billion [increased tax collections from elites], but no one thing is gonna solve the deficit of over a trillion.” He went on to explain that it’s a necessary first step in preparing everyone to accept tax increases, and even more cuts to social services:  “…I think that getting people to buy in, in this country, to the kind of ‘shared sacrifice’ that’s going to be needed, it’s going to be very important they feel there’s fairness to what’s going on…”

In other words, the people of main street U.S.A. haven’t seen anything yet, when it comes to more taxes and cuts to government spending!