WARREN BUFFETT Quote : Rule No.1: Never lose money. Rule No.2: Never forget rule No.1.
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Saturday, July 11, 2009

Warren Buffett We Need More Taxes

“Good Morning America” consulted one of the news media’s favorite investors on July 10 asking Warren Buffet to advise their audience.

ABC correspondent Bianna Golodryga interviewed the liberal billionaire Warren Buffett about investing and the economy. During the questioning, Buffett backed President Obama’s call for increased taxes on the wealthy.

Buffett told Golodryga: “We need more taxes, too. If people are deterred from making a contribution because they only get a 28 percent deduction rather than a 35, when they’ve their capital gains only taxed at 15 percent against a much higher rate in the past, I would say that you’re gonna to hear from people who say they’re going to withdraw giving billions, who in the past have probably given $12.86 or something of that sort.”

Golodryga clarified, “So to you, this is just, it’s semantics?” Buffett replied that arguments against the tax increase were “a red herring.” But charities that would receive less might not exactly agree with Golodryga or Buffett.

Using the media darling Buffett to cheerlead for Obama and higher taxes is nothing new for Golodryga or the networks.

During a 2008 “Nightline” segment about the “the super rich,” Golodryga declared that Buffet was “concerned about the burgeoning wealth gap.” And in 2007, Golodryga touted Buffett as a “Robin Hood” for looking into the percentage of taxes he pays compared to his staff.

Full story here.

Via Prisonplanet