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A sound off from Warren Buffett on Trump's economics: "In terms of policy, I haven't heard [Trump] say anything yet that I disagree with."
Warren Buffett on Trump Economics: Yes, Tax the Rich
Last week saw the release of Donald Trump's economic plan for America, which included the elimination of a tax code rule that allows investment managers to pay lighter taxes. Specifically, this loophole makes it possible for these managers who get "carried interest" to treat their profits as capital gains, which are taxed significantly lighter than wage income.
Berkshire Hathaway Inc. (NYSE: BRK.A, BRK: B) CEO Warren Buffett has long been a staunch advocate of closing the gaping wealth gap, noted Bloomberg on Sept. 8. This position is also shared by Democratic frontrunner Hillary Clinton, who reminded the media on June 13 that the nation's top 25 hedge-fund managers earn more than all U.S. kindergarten teachers combined, reported Politifact.com.
The Oracle of Omaha has been rather vocal about his politics recently. After verbalizing his approval of Trump's tax code reform, Buffett stated that he supports Hillary Clinton for president.
And before praising Trump's tax policy in the Bloomberg interview, he told CNBC the same day that he admired Democratic presidential hopeful Bernie Sander's campaign for taking on the super-rich. But while he agrees with Sanders on the need to help those left behind by the market economy, reported Business Insider on Sept. 8, Buffett strongly disagrees with him on the production side.
He's a Clinton man, through and through.
Clinton Fiscal Policy Reform: Specifics were just revealed of the Hillary Clinton campaign finance plan. Campaign aides laid out the proposal, which primarily addresses the current fiscal political practices many Americans view as corrupt…
- Bloomberg Business: Buffett Supports Trump Stance on Hedge-Fund Manager Taxes