George is smarter than the rest of us.

"You want to figure out a way to slow this economy down, just start taking money out of people's pockets."

Unfortunately for us, he's referring to the elimination of the tax-cut of the richest people in the US, that he and the Republicans installed in 2001/2002.

Warren Buffet doesn't agree with him. Buffet's own federal tax rate is 17% while his workers pay around 30%. The President and the GOP love to argue that trickle-down economics really works, except that it doesn't, and never has. The rich don't suddenly spend more money because you gave them more money. Their money goes right back into their investments, and those investments don't necessarily create jobs, but generally just create greater wealth on paper (or electronically).

It'll only be a matter of time, if the GOP continue to redirect wealth into the upper 5% of the population, that the 95% will revolt and those 5% may end up losing it all.