No Money, More Problems?

Are MSNBC, FOX, ABC, and CNN driving you into perpetual panic with their ability to articulate for hours on end that they have no idea what is happening to the economy? Before you start buying canned goods, doing price comparisons on generators, stock piling gas, planting an indoor garden, dusting off your firearms, and deciding which stores you’d be most comfortable looting in preparation for a financially induced Armageddon, listen to Warren Buffet, chairman of Birkshire Hathaway, talk calmly and confidently to Charlie Rose.

Buffett is a remarkable member of the financially savvy. As the richest man in the world he has promised $37.4 billion, or 85% of his fortune, to charitable foundations. This includes $31 billion to the Bill and Melinda Gates Foundation. Buffet is a man that openly claims he should be taxed more, and not only more but at a higher rate than the middle and lower class. As a member of the top 1% Buffett tells Charlie Rose he has never paid a lower tax rate than he is paying now, while the common worker’s payroll taxes account for 1/3 of the receipts of the federal government. The most successful capitalist in the world states clearly in this interview that giving tax breaks to the wealthiest members of the nation is not a healthy economic practice. To hear it straight from the financial wizard himself, watch the 55 minute Charlie Rose interview with Warren Buffet.

posted by: Scott Starrett