Buffett's brilliant investment record and strategies and yet his support of Clinton; who stood next to him yesterday and proclaimed her urgent desire to repeal Bush's tax cuts and in particular the inheritance tax. Buffett sincerely wants you to make money...but at the same time supports hard-core liberals who want to tax it all away from you...stunning.
Buffett is smart enough to realize the Bush tax cuts helped the super rich while the poor and middle class stayed the same or lost ground in the economy. For the economy to grow the middle class and poor have to spend more. Thus they need the help and the money generated from restoring some of the tax breaks the rich got can do wonders, like universal health care. Take that burden off the car makers and they would gain $1500 a car. Take the burden off the middle class and they would have more money to spend ergo the economy gets more healthy. Hey remember Bill's tax cut in 1993, I think, the economy took off, we balanced the budget ans even had a surplus. Now we see the deficits Bush has run up are killing us. The dollar has dropped about a third and there is a huge mortgage lending failure which will make the bank bail outs of the 80s look like nothing. No, as usual Buffett is right on and for the economy too grow we have to help the poor and middle class. Call it Liberal or what you will, most economists agree with ths.
The Bush tax cuts would have been a "real tax cut" if only they were supplemented with a corresponding reduction in government spending.
Instead we get more deficit spending and wars costing almost a $trillion dollars---all on borrowed money!
Bush also signed the Medicare drug prescription bill which will cost 5 times that of Social Security.
If he is not a screaming Liberal (fiscally speaking of course) I don't know who or what is.
"One of the most popular ideas taught in American civics classes is that the strength of the American political system lies in the fact that we have a two-party political process. This, I maintain, is akin to teaching that babies come from storks. It's a fairy tale we spin out to avoid messy details of reality we prefer not to face. The reality is that the Democratic and Republican parties, as distinctive parties, are shams. They have become nothing but two divisions of the Central Leviathan Party. This has been our political reality ever since Dwight Eisenhower defeated the "old guard" individualist Republicans under Robert Taft in 1952 and made the Republicans into a big government welfare-state party like the New Deal Democrats of Roosevelt and Truman. From that year on, there has been no voice in the world of politics for the original Founders' vision. The last vestiges of limited, decentralized government died with Eisenhower's capitulation to Keynes and the New Deal.
In the ensuing decades, the collectivists have skillfully established a deceptive ONE-PARTY dictatorial system, which their media lackeys spin to the public as "two parties" and which the collectivist power elites maintain by waging phony battles every four years, all of which the gullible public buys into. Yet every year no matter who wins at the polls, government grows larger and more fascistic. Therefore, all talk about which of these Tweedledum and Tweedledee institutions is better than the other is a game of "nonsense on stilts" (to borrow a phrase from the 19th century philosopher, Jeremy Bentham). Because both parties subscribe to the same fundamental premises, which manifest in the dictatorial paradigm of fascism, they both end up tyrannizing our lives."
Buffett might be focused on the long-term success and prosperity of Berkshire Hathaway, and he might reasonably believe that BRK's long-term success depends on the long-term success and prosperity of the U.S. He might also believe that an administration which ran up the national debt by 65% during its seven years in office (from $5.7 trillion at the beginning of 2001 to $9.4 trillion now)-- in significant part by slashing taxes on the rich -- was not focused on the long-term success and prosperity of the U.S. And he might be right. After all, his track record is quite a bit better than that of the current administration.
I'm having a tuff time understanding him too.It's definetly a canumdrum. however, I believe it's safe to say at some point in time everybod's got a loser in their portfolio. warrens got 2 hillary and walkin' the talk or Charlie is probably shorting....who the hell know's what lurks in people's mind.
I'm just going to let it all pass by and buy some more..up or down Brk.b is still a safe haven.
Buffett's brilliant investment record and strategies have nothing to do with his political spectrum. Beside, how would you justify the current federal income tax system that Buffett pays 17.7% on his $66 mil income against his 16 office workers 32.9% on average. Inheritance tax is being held because it's not your money anymore when you pass it down to someone else just like gift tax.
So maybe you need to stop believing the misinformation that Limbaugh and Hannity are feeding you.
Not that I like to take things on faith, but if I were you I'd certainly put more stock in what Buffet says than what these buffoons have to say.
After all, the war in Iraq isn't making us any safer, and it CERTAINLY isn't making us any money. It's making SOMEbody some money, but not you or me...