Obama supporter Warren Buffet on Keystone Pipeline: "...it certainly seems like it makes sense to me"

Warren Buffet didn't drink all the kool-aid.

Via E2 Wire:

Billionaire Warren Buffett said this week he supports the Keystone XL oil sands pipeline, inserting himself in a politically divisive debate on the project.

“I’m not an expert, but it certainly seems like it makes sense to me,” Buffett said Monday when asked on Fox Business Network whether he would support the pipeline if it doesn’t threaten an environmentally sensitive region in Nebraska.

“There are an awful lot of pipelines running in the United States and net, they’ve certainly been a huge plus for the country.”

But Buffett — an Obama supporter whose name has been used by the White House to sell a plan to increase taxes on the rich — steered clear of criticizing the president.

“I don’t think that issue is done with yet,” Buffett said when asked whether he was disappointed in President Obama’s decision to reject a key permit for the project in January.

New Jersey Gov. Chris Christie on Warren Buffett: “He should just write a check and shut up”

Well said...

NEW YORK (CNNMoney) — Outspoken New Jersey Gov. Chris Christie had some rather harsh words for billionaire investor Warren Buffett on Tuesday.

During a discussion with CNN’s Piers Morgan about tax rates, Christie made it known that he’s just about had it with Buffett, the world-famous investor who lent his name to a proposed tax hike on the rich.

“He should just write a check and shut up,” Christie said. “I’m tired of hearing about it. If he wants to give the government more money, he’s got the ability to write a check — go ahead and write it.”
Earlier in the interview, responding to a question on class warfare in the political system, Christie, who has developed a reputation for not mincing words, said he didn’t want to discuss Buffett.

“I’m so tired of talking about Warren Buffett,” Christie said. “What are you going to bring up next, his secretary?”

Keep on reading…

Obama buddy Warren Buffet to benefit from Keystone XL pipeline cancellation

On of Obama's cronies is benefiting from an Obama decision? Who would have guessed?

Warren Buffett’s Burlington Northern Santa Fe LLC is among U.S. and Canadian railroads that stand to benefit from the Obama administration’s decision to reject TransCanada Corp. (TRP)’s Keystone XL oil pipeline permit.

With modest expansion, railroads can handle all new oil produced in western Canada through 2030, according to an analysis of the Keystone proposal by the U.S. State Department.

“Whatever people bring to us, we’re ready to haul,” Krista York-Wooley, a spokeswoman for Burlington Northern, a unit of Buffett’s Omaha, Nebraska-based Berkshire Hathaway Inc. (BRK/A), said in an interview. If Keystone XL “doesn’t happen, we’re here to haul.”

The State Department denied TransCanada a permit on Jan. 18, saying there was not enough time to study the proposal by Feb. 21, a deadline Congress imposed on President Barack Obama. Calgary-based TransCanada has said it intends to re-apply with a route that avoids an environmentally sensitive region of Nebraska, something the Obama administration encouraged.

The rail option, though costlier, would lessen the environmental impact, such as a loss of wetlands and agricultural productivity, compared to the pipeline, according to the State Department analysis. Greenhouse gas emmissions, however, would be worse.

GOP Rep. Takes Buffet Up On Deficit Reduction Donation Pledge

Warren Buffet promised to match any Republican donation to reduce the deficit. Rep. Scott Rigell took Buffet up on the offer. This cost Warren Buffet $49,000. Buffet's $49,000 donation paid for 1 second of Obama's daily deficit spending. The current Obama daily deficit is $3.96 billion.

Warren Buffett will be writing a check made out to the United States Treasury for just over $49,000 to help pay down the national debt.

He's matching voluntary contributions made this year and last year by Rep. Scott Rigell, a Republican representing Virginia.

In a letter to Rep. Rigell released today by Berkshire Hathaway, Buffett writes he's "particularly impressed that you took this action before my challenge."

Strange: Billionaire investor Warren Buffett to sing for China at Spring Festival gala

Perhaps President Obama will join him for a duet.

(Reuters) - Billionaire investor Warren Buffett will reach out to millions of Chinese in the most curious of ways: singing for the online version of China's annual Spring Festival gala.

The Berkshire Hathaway chief executive, best known in China for his investment in automaker BYD Co Ltd, has recorded a video specially for the gala in which he sings and plays the guitar, state news agency Xinhua said, citing Wang Pingjiu, a production executive for the broadcast.

Comedy Gold: Warren Buffet Opposes Obama's Buffet Rule (video)

Buffet's idea of a Buffet rule would only apply to the really rich making $50 million. President Obama set that limit at 50 times lower.



Buffet seems to have issues with Obama's jobs plan and taxes on small business men.

Hypocrisy: Warren Buffet says People Like Him Should Pay More Taxes, But Owes Back Taxes

The hypocrisy of Obama supporters id mind-blowing.

(NYP) — This one’s truly, uh. . . rich: Billionaire Warren Buffett says folks like him should have to pay more taxes — but it turns out his firm, Berkshire Hathaway, hasn’t paid what it’s already owed for years.
That’s right: As Americans for Limited Government President Bill Wilson notes, the company openly admits that it owes back taxes since as long ago as 2002.

“We anticipate that we will resolve all adjustments proposed by the US Internal Revenue Service (“IRS”) for the 2002 through 2004 tax years. . . within the next 12 months,” the firm’s annual report says.
It also cites outstanding tax issues for 2005 through 2009.

Obvious question: If Buffett really thinks he and his “mega-rich friends” should pay higher taxes, why doesn’t his firm fork over what it already owes under current rates?

Likely answer: He cares more about shilling for President Obama — who’s practically made socking “millionaires and billionaires” his re-election theme song — than about kicking in more himself.

Clueless Obama Calls Warren Buffett for Economic Advice

Billionaire investor Warren Buffett recently claimed he wanted his taxes increased. Hopefully, President Obama gave him the address to mail his check too.

(The Hill) — President Obama on Monday reached out to billionaire investor Warren Buffett and Ford CEO Alan Mulally for advice as he crafts a major jobs plan to be released after Labor Day.
Berkshire Hathaway head Buffett, who has become an Obama confidant, made waves earlier this month when he called on wealthy Americans to pay more in taxes in order to reduce the deficit.
Obama has been calling for higher taxes on the wealthy as part of a “balanced approach” to the debt.

“The President and Mr. Buffett discussed the overall outlook on the economy and the reaction to the headwinds we’ve experienced over the last couple of months,” White House spokesman Josh Earnest said. “They talked a little bit about some possible measures that would spur investment and increase economic growth. And they also talked about some measures that could address the long-term fiscal situation in this country.”

Warren Buffet Failed to Heed his Own Advice

Mega billionaire Warren Buffet once called derivatives "financial weapons of mass destruction." Apparently, Buffet has failed to heed his own advice to avoid them.

Warren Buffett's company posted an 8 per cent drop in third-quarter net income as the value of its derivatives portfolio fell sharply, but BNSF railroad and Berkshire Hathaway's (BRK.A-N125,560.001,080.000.87%) many other operating companies performed well...

The biggest factor in the decline was a $95-million loss on Berkshire's derivatives, some of which are tied to equity markets and credit defaults. A year ago, those derivatives were worth $1.1-billion.

Buffet is riding a real 'fail' train lately. He endorsed Barack Oabama for president and last year he endorsed President Obama's failed economic plan.

Obama Supporter Warren Buffett Wants to Scrap Current Democratic Health Care Bill

In an interview with CNBC, Obama supporter Warren Buffet said that the current democratic health care bill does not focus enough on controlling costs and he was in favor of scrapping it.

Politico reported:

Asked if he would be in favor of scrapping the Senate health care bill, Buffett responded: “I would be.”

US Economy In Shambles-- No Signs of Recovery

The US economy is in shambles and there is no sign of a recovery according to billionaire investor Warren Buffett.

CNBC reported:

In a live interview on CNBC today, Warren Buffett said there has been little progress over the past few months in the "economic war" being fought by the country. "We haven't got the economy moving yet," he told Becky Quick.

While the economy is a "shambles" and likely to stay that way for some time, he remains optimistic there will eventually be a recovery over a period of years.

Buffett repeated his criticism of "cap and trade" as a method to control pollution, saying it would be a huge, regressive tax.

Obama repays billionaire supporters by charging them billions more in tax

President Obama has rolled out a tax crackdown on companies doing business overseas. He is claims he is closing loopholes that send jobs overseas. If enacted by Congress, this change will cost many U.S. companies billions. The high tech sector will be among the hardest hit. In a great example of "karma," many of these companies are closely tied to or led by Obama campaign supporters. Bill Gates endorsed Obama ahead of the 2008 election. This change will cost Microsoft over $1 billion a year in additional taxes. Google CEO Eric Schmidt campaigned for the president last year and has subsequently served as a technology adviser. This change will cost Google over $1 billion and raise their effective tax rate from 27.8 percent to 45.2 percent according to their 2008 annual report. We can only hope Obama supporter Warren Buffet is holding some of those distressed Chrysler and GM bonds. AP reported:

SAN FRANCISCO (AP) — President Barack Obama's plan to impose U.S. taxes on corporate America's overseas profits threatens to open a big crater in the financial statements of technology companies.

While additional taxes are rarely popular, Obama's decision to go after corporate earnings outside the United States is a particularly prickly subject for technology executives because the industry has been steadily boosting its overseas sales amid rising demand for its gadgetry and services.

If Obama's proposal becomes law, the hard-hit companies would include tech bellwethers like Hewlett-Packard Co., IBM Corp., Cisco Systems Inc., Microsoft Corp. and Google Inc. Each of those companies realized a benefit of more than $1 billion from lower foreign tax rates in their most recent fiscal years — an advantage that could lost if Obama is able to change the rules.