Buffett Attacks 'Trickle Down': Calls for Higher Taxes on the Wealthy

Quick test...is Warren Buffett the wealthiest man in the world?  Nope.  Wikepedia says he's running number three right now.  And he might not be gunning for number one if you follow his arguments on ABC News this morning.  The headline on the ABC News post is, "Read my lips, raise my taxes."

"If anything, taxes for the lower and middle class and maybe even the upper middle class should even probably be cut further," Buffett said. "But I think that people at the high end -- people like myself -- should be paying a lot more in taxes. We have it better than we've ever had it."

ABC News is releasing advance clips of the interview which while air in full on a "special Thanksgiving edition of 'This Week.'"

The billionaire brushed aside Republican arguments that letting tax cuts expire for the wealthy would hurt economic growth.

"They say you have to keep those tax cuts, even on the very wealthy, because that is what energizes business and capitalism," anchor Amanpour 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," Buffett explained.