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I really enjoyed the social perceptions recently expressed by Warren Buffet, CEO of Berkshire Hathaway Inc. Buffet describes Bush's dividend tax cuts as voodoo economics as such tax cuts will require "that an equivalent burden be imposed on other parties." He goes on to say that his acquired fortune was a matter of geographical luck rather than talent, that the dividend tax cuts would plunge his income tax rate to 3% while his receptionist would still pay 30% of her income as taxes and that "putting $1,000 in the pockets of 310,000 families with urgent needs is going to provide far more stimulus to the economy than putting the same $310 million in my pockets."

It is important to note that another version of voodoo economics is going to war and destroy wealth for the sake of American hegemony as preached by Bush&Co. and their friends of the Project for the New American Century.

Now, after the realisation that the war in Iraq was completely not needed, we are experiencing a world wide economic deterioration where the American dollar has lost a significant value against the Euro and other currencies. Wouldn't it have been better to have devaluated the American dollar some years ago, to have had peace, and to have led an economic growth for all?

References

Buffet, Warren Dividend Voodoo (PDF) May 20, 2003 Washington Post http://www.ftlcomm.com:16080/ensign/desantisArticles/2002_700/desantis795/voodooEc.pdf

Project for the New American Century Statement of Principles http://www.newamericancentury.org/statementofprinciples.htm