1/21/2010

Buffett says that the Bank Tax doesn't make any sense

Strong Obama supporter Warren Buffett has found another Obama policy that he doesn't like.

“I don’t see any reason why they should be paying a special tax,” said Buffett, the chairman and chief executive officer of Berkshire Hathaway Inc., in an interview on Bloomberg Television today. Supporters of the plan to tax the banks “are trying to punish people,” he said. “I don’t see the rationale for it.”

Obama announced a plan last week to impose a fee on as many as 50 financial companies to recover losses from the federal government’s Troubled Asset Relief Program. The levy would apply to firms with more than $50 billion in assets, including Wells Fargo and Goldman Sachs, two companies that Berkshire has investments in. It would exclude Fannie Mae and Freddie Mac, the government-sponsored mortgage lenders taken over by the U.S.

“Look at the damage Fannie and Freddie caused, and they were run by the Congress,” said Buffett. “Should they have a special tax on congressmen because they let this thing happen to Freddie and Fannie? I don’t think so.” . . .

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2 Comments:

Blogger dWj said...

“Should they have a special tax on congressmen because they let this thing happen to Freddie and Fannie? I don’t think so.”

Well, now, let's not rule this thing out too hastily...

1/21/2010 3:30 AM  
Blogger Chas said...

Markie Marxist sez: "No special reason why banks should be taxed? That's ridiculous! Banks are the bastions of capitalism, so they should be taxed out of existence. Given all the bank failures we've had recently, we have a good chance of destroying them by burdening them with more taxes. Bankrupt the banks! It's just common communist sense."
"I love the way that Obama can propose the most outrageously Marxist policies, while our commie compadres in the MSM keep a straight face and take the proposals seriously."
"Just to pinch myself to ensure that I wasn't dreaming, I asked a radical, black, communist in Harlem what he thought of taxing the banks. I took his jumping up and down while grinning and giving a double, clenched-fist salute to mean, 'Yes'."

1/21/2010 7:05 AM  

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