Warren Buffett Interview With Tom Brokaw
Nov 2nd, 2007 by Martin Lee
Warren Buffett continues to speak out against the unfair tax treatment for high networth individuals. In an interview with Tom Brokaw on NBC Nightly News Monday night, he calls for higher taxes on very wealthy Americans.
In this interview, Warren Buffett and Tom also covers:
- Threats to the U.S. economy – The seriousness of the housing crisis.
- A million dollar challenge to Buffett’s “fellow rich guys”
- Investing in China – How China is buying up US assets
- CEO Compensation – His objective to the huge paychecks that CEOs get when they leave a company.
You can watch the entire interview and read the transcript here.
I think this is a double edged sword. Naturally I feel as a middle class American that the very wealthy should have to pay the same percentage of tax that I do. However, the very wealthy also tend to own big businesses and are a huge driving force for the overall economy. What mean by this is that the wealth tend to spend money developing their businesses, and the more they have, the more they develop. This is actually a good thing for people in my income bracket, as it creates jobs. What do you all think?
Hi Steve,
It doesn’t make sense that the rich are paying LESS taxes (as a percentage) than the employees they are hiring.
Warren Buffett doesn’t make use of any fancy tax shelters or trusts, yet his percentage income is already lower than most people in his office.
Then you wonder how much taxes the very rich (those who bother to setup such structures) really pay…