Warren Buffett, the billionaire who partnered this year with President Barack Obama to push for tax increases on the wealthy, urged policymakers to target gains made by speculators with short-term investment horizons, according to those good folks at Bloomberg.
“If you give me a choice between taking $1,000 from 20 million families or hitting 50,000 people who shuffle money around all day, I’ll take it from the people who shuffle money,” Buffett told Bloomberg Television’s Betty Liu today in an interview from the floor of the New York Stock Exchange.
Buffett, 81, built a fortune of more than $35 billion by picking stocks and making takeovers as chief executive officer of Berkshire Hathaway Inc. (BRK/A) His buy-and-hold investment approach made Omaha, Nebraska-based Berkshire the biggest shareholder in companies including Coca-Cola Co., American Express Co. and Washington Post Co.
“Somebody that buys a stock-index future and sells it 10 seconds later and gets 60 percent by long-term gains -- he would have a different world to live in,” Buffett said of his push for changes to the tax code….
http://www.bloomberg.com/news/2011-09-30/buffett-says-tax-rich-money-shufflers-to-ease-families-burden.html
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