- Apr 1, 2011
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Buffett says high tax/spend policies good, but buys non-US companies because of them - Talking Points
Warren Buffett, who is infamous for supporting high inheritance taxes, then buying high value family-owned companies when the children of the founders can't afford to pay the inheritance tax, is well known for supporting high tax/high spend policies.
But the hypocrisy of those statements are clearly seen in Buffett's statements yesterday that those very policies are causing him to shun US companies, and buy foreign companies instead.
"We are happy to invest in businesses that earn their money in euros in France or Italy or sterling in the UK, because I don't have a feeling that those currencies are likely to depreciate against the dollar," said Buffett. "Overall I think that the U.S. continues to follow policies that will make the dollar weaken against other major currencies," he concluded.
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Warren Buffett, who is infamous for supporting high inheritance taxes, then buying high value family-owned companies when the children of the founders can't afford to pay the inheritance tax, is well known for supporting high tax/high spend policies.
But the hypocrisy of those statements are clearly seen in Buffett's statements yesterday that those very policies are causing him to shun US companies, and buy foreign companies instead.
"We are happy to invest in businesses that earn their money in euros in France or Italy or sterling in the UK, because I don't have a feeling that those currencies are likely to depreciate against the dollar," said Buffett. "Overall I think that the U.S. continues to follow policies that will make the dollar weaken against other major currencies," he concluded.
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