After Finishing Billion Dollar Investing Spree, Buffett Bemoans ‘Income Inequality’

[red states rule]

Is it arrogance that prevents liberals from seeing their blatant hypocrisy? If Buffett feels he is undertaxed why didn't send those billions to the Federal government or donate the money to the "poor"?

Based on his recent investments, it seems that Warren Buffet is incredibly optimistic about the U.S. economy. And while he has been investing at a breakneck pace, he has also been condemning the growing “income inequality” in the U.S.
“You’ve seen a period where the American workers have generally gone no place and where the really super rich as a group increased their incomes five-for-one in this rarified atmosphere,” he said in a recent Business Wire article.

Late Monday, Warren Buffett’s Berkshire Hathaway filed its third quarter 13-F form. The form provides investors with a glimpse at the holdings of Wall Street’s biggest funds. While investors do not know the trading strategy used by the big boys, the 13-F form can provide insight to how successful investors think (but keep in mind that this information is subject to change with the end of the third quarter).

Here’s what Berkshire Hathaway is doing with its money:

The most talked about new position is Warren Buffett’s stake in IBM (which is rare considering he generally avoids investing in tech companies). He now has a significant 5.4 percent stake in the blue chip giant at an average price of $170. Warren Buffett explained that IBM fits all of his principles. One such principle is the requirement for top-tier management (IBM recently announced that Virginia M. Rometty will succeed Sam Palmisano as chief executive).

Buffett revealed Berkshire accumulated the stake–about 64 million shares valued at $10.7 billion–from March to October. According to the 13-F, IBM is now Berkshire Hathaway’s second largest stock position.

http://www.theblaze.com/stories/afte...me-inequality/

[fj1200]

It's not his money.

[logroller]

Is it arrogance that prevents liberals from seeing their blatant hypocrisy? If Buffett feels he is undertaxed why didn't send those billions to the Federal government or donate the money to the "poor"?

If he were to voluntarily give money to the government, he would lose leverage relative to his competitors. He does donate billion$ to the Bill and Linda Gates Foundation, who seek to help the poor.

[Psychoblues]

Indeed, lr. Mr. Buffet does donate billions to a number of causes, foundations, etc. that are all designed to help those less fortunate than himself. He is not alone. God bless those that look after the children, the poor, the indigent, the elderly and those that are in any way in need and cannot otherwise achieve self satisfaction. That's probably a bit too deep for most of you.

Psychoblues

[fj1200]

That's probably a bit too deep for most of you.

Oh brother. Your location is not "deep south", it's deep S*.

[Psychoblues]

Oh brother. Your location is not "deep south", it's deep S*.

Sooooooo,,,,,,,you're confused? Just call me a Prophet as I quite accurately forecast this dilemma with some of you.



Psychoblues

[fj1200]

Sooooooo,,,,,,,you're confused? Just call me a Prophet as I quite accurately forecast this dilemma with some of you.

Moving ever deeper I see.

[Psychoblues]

Moving ever deeper I see.

Why do you think Mr. Buffet and many other people that have extra wealth donate so much of it to philanthropic causes?

And, just keeping myself entertained. I hope you don't mind.



Psychoblues

[fj1200]

Why do you think Mr. Buffet and many other people that have extra wealth donate so much of it to philanthropic causes?

And, just keeping myself entertained. I hope you don't mind.

Because they are charitable people. And Bill Gates playing the guilt trip didn't hurt getting some of those guys to donate, Jobs resisted though. Do you presume I have a problem with charitable giving?

[Psychoblues]

Because they are charitable people. And Bill Gates playing the guilt trip didn't hurt getting some of those guys to donate, Jobs resisted though. Do you presume I have a problem with charitable giving?

Any inclination by you towards charities is really none of my business. But I do appreciate those that freely give and for good causes, good causes being subjective. The world will always have poor and under trodden peoples. And for all eternity some have had charity and concerns for others less fortunate than themselves even to the point of one acquiring only a few crumbs of bread, not nearly enough for even himself but splitting the bounty with others equally or more so needy. Most others? Not so much.

Psychoblues

[ConHog]

Why do you think Mr. Buffet and many other people that have extra wealth donate so much of it to philanthropic causes?

And, just keeping myself entertained. I hope you don't mind.



Psychoblues

Short answer. Because if they don't donate it to charity the government would just take it in taxes anyway. Do you really believe Buffett is as altruistic as you seem to be saying he is? Billionaires don't become billionares or remain as billionaires without being greedy bastards whether they are liberal or conservative in nature.

[red states rule]

It's not his money.

Last I saw, Buffett's personal wealth was around $45 billion and he was #2 on the rich list

Again, if he feels he is undertaxed he can send more in AND pay the back taxes he has owed for YEARS

[red states rule]

Any inclination by you towards charities is really none of my business. But I do appreciate those that freely give and for good causes, good causes being subjective. The world will always have poor and under trodden peoples. And for all eternity some have had charity and concerns for others less fortunate than themselves even to the point of one acquiring only a few crumbs of bread, not nearly enough for even himself but splitting the bounty with others equally or more so needy. Most others? Not so much.

Psychoblues

I thought was what all those liberal; social programs were supposed to take care of PB. THe total cost to the US taxpayers is over $10 TRILLION for those programs yet we are told "poverty" has never been worse in America

Where did all that money go?

[fj1200]

Last I saw, Buffett's personal wealth was around $45 billion and he was #2 on the rich list

Again, if he feels he is undertaxed he can send more in AND pay the back taxes he has owed for YEARS

The investment was made by Berkshire Hathaway. I'm sure the rest of the shareholders would be upset if Buffett just sent their money to DC.

[DragonStryk72]

Why do you think Mr. Buffet and many other people that have extra wealth donate so much of it to philanthropic causes?

And, just keeping myself entertained. I hope you don't mind.



Psychoblues

Because they've done so since before the income tax existed. The rich of this country have almost always given back in some way, either through donating to worthy causes, or championing some of their own creation.

Money given to the government just gets pissed away down the pipe.