Buffett: Your Taxes Are Going Up!
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Obviously several stories out in regards to Warren Buffett and the annual Berkshire Hathaway meeting, the first one obviously without the great Charlie Munger. Talking here and there about Apple and his position in Apple and what he thinks of the company and how great he thinks it is and Coca -Cola and American Express and how he’s lost money on Paramount. That’s all well and good. Most of the stories are missing.
is what he had to say about taxes. He says he expects our taxes are going to go up and go up big time. He doesn’t think the United States government is going to reduce spending. I mean, you’re starting to hear more and more about this. We actually business owners coming out actually addressing our national debt and spending and deficits and what’s going on.
Yeah, he said that, yeah, he said that we’re getting to a point in time where it’s a bit ridiculous and he sees tax, tax hikes on the horizon. I think higher taxes are likely. They may decide that someday they don’t want the fiscal deficit to be this large because that has some important consequences. So they may not want to decrease spending and they may decide they’ll take a larger percentage of what we own and we’ll pay it.
Yeah, we’re going to pay it because we don’t have a choice. You also had you also had McMaster come out and say that he wants to double. Double Trump’s Trump’s guy, Trump’s guy, the scary wants to double defense spending. We need to prepare for World War three, double defense spending. Yeah, I had.
this conversation on the show, many, many, many moons ago in relation to taxes. I think, I think these people have quite frankly, have some nerve to come to people and say we want to come to all of us and say they want to tax us more. Why not? I’m just throwing this out there. If you want to raise taxes, let’s say for every dollar in new taxes you want to raise, you have to cut $10.
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and you have to come up with a balanced budget amendment. Every single time, this is fact. You send more money to Washington DC, they’re gonna spend that and then more. Again, it’s like giving a drug addict drugs for crying out loud. You can’t do it that way. You wanna come and you wanna raise our taxes. Okay, fine, we’re gonna deal with the debt. Well, I’m not fine with it, but it is what it is.
We’re at this point in time. Too much to ask that you put in a balanced budget amendment? Too much to ask that you start making cuts out there? Again, that’s part of the issue. I do think that many Americans could get behind, even though I don’t want to pay higher taxes, but could get behind it. If it actually, there’d be some sort of light at the end of the tunnel. You had some sort of plan and how you were gonna go about.
reducing deficits and again, you have to rein in spending, which means it has to be there has to be legislation in place. You almost need a constitutional balanced budget amendment at some point in time. And I know they’re gonna always try to find work aways. Unless there’s an emergency or unless there’s a war, papikash, okay? You put in a balanced budget amendment, you cut spending,
And then you come to the American people and say, okay, we got this big mess that we’ve made over the past few generations. We wanna ask you to help deal with that. I don’t think that that’s asking too much. Watchdogonwallstreet .com.
