new interview with Buffett

[warrior]

 

 

http://money.cnn.com/video/news/2012/11/15/n-warren-buffett-hire-mitt-romney.cnnmoney/index.html?iid=HP_River

[Liberty]

Thanks for posting!  :)

[Hawk4value]

Interesting, Buffett seems to be fixated on taxing the rich without making it part of an overall solution to our massive deficit problems. Strange that he almost never talks about entitlements or the fact that the Fed is a massive enabler to prolifigate spending by keeping interest rates artificially low. He has squandered many opportunities to be a rational voice in a sea of irrationality, only to fall back on partisan rhetoric. I can only deduce that his incredible guilt feelings about being rich and talented in his chosen profession, has clouded his better judgement.

 

Very disappointing.

[RichardGibbons]

Or, maybe he just has a better understanding of the issues and what's important to discuss than you do, and you don't realize it.

[Palantir]

Or, maybe he just has a better understanding of the issues and what's important to discuss than you do, and you don't realize it.

 

Or maybe he doesn't, and he is equally as clueless as you? A big part of the problem is due to excessive spending and entitlements, however, being politically difficult to cut, Buffett isn't willing to speak up for it.

 

Keep in mind, even if tax rates rise, Buffett will not pay much more in taxes....his income is 100k!

[ERICOPOLY]

Tax reform is going to lower Buffett's taxes.

 

It's going to lower mine too.

 

Berkshire is taxed at 35%.  They're going to cut it down to 28%.  Even Obama wants to cut it to 28% (Republicans want even lower rate).

 

His share of Berkshire's income dropping in tax is going to save him a hell of a lot more than he will actually pay extra in personal tax.

 

Me too.  The actual amount that I will have to pay tax... if BAC distributes 30% of income as a dividend... is unlikely to be more than the amount I'll save on the 100% of my BAC earnings when the corporate tax is paid.

 

The dividend tax is a total red herring for some of the rich that are invested in companies that actually pay that 35% tax rate.  We can't wait for this tax reform to lower our overall taxes!!!

 

Especially me given that it's only like 1/6 of my income that will actually be distributed as a dividend given my Roth IRA is sheltering 1/2 of my dividends.

[ERICOPOLY]

I think Buffett's entire personal tax bill is something like $30 million or so.

 

So what if it triples to $90 million?

 

He's got something close to 99% of his money in Berkshire.  How much is a corporate tax rate drop of 35% down to 28% going to save him?  You gotta love it, the man is going to get rich even faster.

 

I don't think he's being two-faced or anything, I'm just fascinated that the media seemingly doesn't notice this.

[Guest rimm_never_sleeps]

buffett talked a lot about lowering spending. but you actually have to watch the 30m video to know this.

[RichardGibbons]

Or maybe he doesn't, and he is equally as clueless as you? A big part of the problem is due to excessive spending and entitlements, however, being politically difficult to cut, Buffett isn't willing to speak up for it.

 

Yeah, you could be right -- I could be totally clueless. 

 

If we put my cluelessness aside, I think Buffett's one of the clearest thinkers of our times, and also one of the clearest communicators (when he actually wants to communicate something).  Furthermore, I think in his last few decades of his life (I'm optimistic :) ), he's doing what he can to make the world a better place.  He's giving away huge sums of money, and working out the right strategies to put that into effect.  Furthermore, he seems to be maintaining his integrity.

 

And I also believe that he's talking about the things that he believes will benefit the country the most.  Of course, in these sorts of situations, you may choose to toss Occam's razor out the window, Palantir.  But it doesn't really make Buffett seem less credible, and not everyone will agree that your decision to ignore Occam's razor is an astute one.  That said, they could be called clueless too, if you like.  It does make things simpler.

 

All that said, you are right that entitlements are a big issue as well that needs to be dealt with.  As far as I can see, the numbers are indisputable.  A combo makes sense.  It's not about fixing government inefficiency, as many seem to say.  That approach can't come close to fixing the problem.  It's about demographic math.

 

That said, feel free to call me clueless.  I understand where you're coming from.