According to recent polls, about two-thirds of Americans believe that taxes should rise to help bring down the deficit and pay for services that the nation needs. They don’t believe that bringing tax rates back to the levels of the Clinton administration would ruin capitalism, extend joblessness and bring America closer to (gasp!) Europe.
Neither does Warren Buffett, one of the nation’s richest capitalists. He told ABC’s Christiane Amanpour that the rich ought to pay higher taxes: