Warren Buffett: Trickle-Down Rest
on Friday, July 30, 2021Warren Buffett Money Quote saying the wealthy want more money so that when they spend it, it will run downhill to the rest of us. Warren Buffett said:
“The rich are always going to say that, you know, just give us more money and we’ll go out and spend more and then it will all trickle down to the rest of you. But that has not worked the last 10 years, and I hope the American public is catching on” — Warren Buffett
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Warren Buffett is skeptical of trickle-down economics. This suggests that Warren Buffett does not believe tax cuts and other benefits for the wealthy necessarily help the broader economy or lower and middle classes, as proponents of trickle-down economics claim. He thinks the idea that money given to the rich will trickle down has not been borne out in recent decades.