Warren Buffett, the richest man in the world, talks with Charlie Rose for almost an hour about the current financial crisis. This is a must watch for anyone who really wants to cut through the rhetoric and figure out what is going on. Long story short, Warren warned about this looming problem for years, however, he thinks the bailout is definitely needed at this point. He also talks about what got us here, his view on taxation and many other great financial principles.
Great quote from Mr. Buffett:
“the capital gains tax is 15% now, so I sit there in my office and I make a lot of money by capital gains and I pay my 15% tax and I pay no payroll tax on it. The women who comes in to change the waste basket she’s paying 15.3%, or whatever it is, just in payroll tax alone. I mean, it is, I’ve never had it so good. I think It’s terrible for people to, in effect say, that income from investments should be taxed at a much lower rate than income from labor.“
By the way, he supports Obama. He also thinks he should be taxed more.
3 responses so far ↓
1 Warren Buffett on Charlie Rose Oct 1 (Video) // Oct 2, 2008 at 4:54 pm
[…] post by Travis Warren Buffett on Charlie Rose Oct 1 […]
2 Cliff // Oct 4, 2008 at 6:04 am
Good leadership and a great video to put the financial crisis into perspective. Everyone can learn from these wise words.
Moving forward, the video forces one to think: Should capitalism continue to run through greed?
Innovation and progress are the best assets the US has, and the show reveals the strengths our system has, by producing people like Warren.
Well, one thing is for sure - change is in the air and true leaders will emerge. Sad that this only occurs during a crisis.
3 Travis // Oct 8, 2008 at 8:54 pm
Thanks for stopping by, Cliff. I agree Warren is a great leader. I was really happy yesterday to hear his name tossed around as a potential cabinet member. Treasury secretary Buffett would be awesome.
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