Warren Buffet Backs Obama For President

AFP:

Warren Buffett, the world's richest man, is backing Barak Obama for US president and thinks current US economic policy will push the dollar lower against other global currencies.

Buffett told a press conference here Monday he had offered support to both Obama and Democratic rival Hillary Clinton but that since it appeared Obama would win the party's nomination, "I will be very happy if he is elected president.

Read the whole story: AFP

Comments

[sonnyshook]

Warren,

Give me 0.08% of your money then I know you are for real.

[kellygrrrl]

he's not even giving it to his own kids, so don't hold your breath

[CocteausTwin]

LOL

[noneIn2008]

He does not explain specifically why?

[kellygrrrl]

because he thinks the Repugnants and NeoCons are destroying America

See, we all have something in common.

[Ariesjill]

Exactly. but re all of us having something common....not all, but it's gettin there! And how comforting to know that categorical thinking does not even apply to multi billionaires!

[Gmoney1]

He did so on a cable station PBS several weeks ago - he explained specifically why - that's what I mean about uninformed voters - he's, not a millionaire, but a billionaire and you say he does not explain specifically - well do you specifically have a billion dollars -

[truthyguy]

And when it comes to someone who knows what's best - my money is on Buffet.

[strandwolf]

It's probably not that he is so smart...just that his competition is so pathetic. He's largely up against greed, dishonesty, and cowardice. He invests in solid, sensibly managed companies--even if their products are dogdirt, such as that hotdog chain.

[Ariesjill]

No, he IS so smart. And, unwittingly, you delineated the specifics.

[indieminded]

"....thinks current US economic policy will push the dollar lower against other global currencies."

What does Mr. Buffet know about making a dollar? :-)

[mamacat]

Mr. Buffett is old enough to not care if the Republicans hold a grudge against him for speaking up. Good for him.

[GerryS]

Another welcome endorsement from a very intelligent and generous man!

Thank you Mr. Buffet-

[Ariesjill]

....thus proving that Warren really is the sharpest, most visionary investor around. We are redefining equities.

[akkadian]

Some common sense at last, although common sense is not that common nowadays.
It goes to show how far we've fallen during the Bushrovian era, that normal diplomacy has now become a 'dangerous and reckless concept.'

[TheJibreelaMonsters]

Dear Mr. Buffet,

As I recall you believe you are not paying enough in taxes, yet you donated billions to a foundation powered by Mr. Gates and you. Why did you not pay that sum of billions into the Federal government as more taxes. I suspect you receive most of your income through dividends. Those of us attempting to build a retirement need to have low tax rates as a means of building cash for the future.

[SparXter]

...Because he is smart enough to know the govt will use it to hire mercenaries for $90k per year, and buy $800 hammers, and build bridges to nowhere and/or just spend it on a few days in Iraq and that no matter what they do with it, it will just result in a big sucking noise! Woosh! Burp!

[TheJibreelaMonsters]

So you are voting for Ron Paul?

[Cyndee1113]

TheJibreelaMonsters,

This has nothing to do with the man's money. Send him a email.

[paganmist]

Dear Mr. Buffet,

How dare you give your hard-earned wealth to an organization devoted to helping people achieve health and success in their lives? I suspect you don't support Hillary. Which is why I think that despite the incredible business and economic knowledge it must've taken to amass your fortune, I'm going to lecture you on things I know comparatively nothing about.

[Ariesjill]

Answer: Because Warren Buffet is neither moron nor masochist. And clearly, because he has some social conscience...and isn't only about the write offs.

Now, I am waiting for Gates to manifest the same by endorsing Apple AND Obama. When pigs fly and VISTA functions.. (

[indieminded]

Warren Buffet is a proponent for a more equitable tax rate for the middle class. He has consistently talked about the fact that he pays a lower percentage of taxes than his secretary. And he doesn't even take advantage of the many loopholes available to him.

Unless you make the majority of your income through capital gains and interest, then you pay a higher percentage of your income in taxes than he does. And, if you do make enough money where the majority of your income is in capital gains, you certainly do not have to worry about your retirement nest egg!

Like Obama said in his book, for the 1% of very wealthy Americans who own draperies in their homes that cost more than some people's annual income, they can afford to pay a more equitable tax rate.

[BatMasterson2]

Most of the people I hear complaining about taxes do not make enough money to pay federal income taxes.

[kellygrrrl]

LOL!

Wannabe's just like all the loser trolls here who couldn't get into a GOP event if they worked for the catering company

[johnfoirdfw]

I beg to disagree. I work for rich people. They decide what amount to pay, tell their accountant, who then makes the numbers work for them. They then go to their palace and bitch about the government taking their hard earned money. Loopholes abound for rich people...

[melelo]

Hillary Clinton does not believe in Economists because they do not represent real Americans (white, hard working, blue-collar). McCain, on the other hand, does not understand Economic. Therefore, warren Buffet’s endorsement of Obama is not surprising because Barack is the only one who understands the economy and who has some economist advisors and He listens.

[BushBites]

BTW:

It's funny how the Fox News types rant about "George Soros this" and "George Soros that" but never mention that Warren Buffett is a "dangerous lib."

Obviously, they don't want their viewers to know Warren Buffett is a Democrat.

[LeftHandedBrain]

Sorry,

I meant "middle class" instead of "working class." I did not mean to imply that either "poor" people or "rich" people don't work (or work hard)!

[LeftHandedBrain]

Buffet has already given the vast amount of his accumulated wealth to The Gates' Foundation for their work with diseases and poverty.

He has argued against the Bush tax cuts since the beginning. He realized what a folly they were, giving tax breaks to people with his wealth instead of the poor and the working class.

What a great endorsement this is.

Obama '08

[Cyndee1113]

Darn right LeftHandedBrain, this is a great endorsement!

[SwingingFromCenter]

Why does it say world's richest? The world's richest is that guy in Mexico that owns Telemundo. 2nd is Gates. I think Buffett is 3rd.

[borderorder]

You are referring to Carlos Slim (funny, since he's one fat fella). The richest man stat goes up and down all the time based on stock performance.

[OriginalScreenName]

Weird. I just got off the plane today after reading the section of "Audacity of Hope" where he speaks of his first meeting with Buffet. For some reason I just assumed he already endorsed him.

[BushBites]

No.

Buffet has hosted fundraisers for Hillary and Obama, and has been keeping quiet until the right time.

He knows when to buy and when to sell.

[biglover]

He sure does know when to buy and sell and a great investment when he sees it.

[shothot]

I applaud you for reading the book. most don't. they'd rather listen to or accept someone else's opinion of Obama.