Warren Buffett of Berkshire Hathaway Inc. (NYSE: BRK-A) was on CNBC via remote teleconference this morning. While the aim was for a new biography, the real turn went to the coming fiscal cliff, with its instant tax hikes and spending cuts.
Buffett said that he believes the $250,000 threshold of success is too low and he told President Obama about it a head of time. Buffett thinks that $500,000 is a better threshold that really targets more of the wealthy.
Another issue on the fiscal cliff is that Buffett is looking for a resolution to come, but he does not really think that it will occur right before the deadline of December 31. Buffett is looking for a resolution to come shortly after the first of the year.
As far as investing is concerned, Buffett said that he will not lay off a single worker in the immediate term if we go over the fiscal cliff. Buffett also said that the fiscal cliff would have no impact on his long-term investment strategy, nor would he be actively selling if an agreement is not reached.
Here is Buffett’s full video appearance.
JON C. OGG