CNBC Loves Warren Buffett-style Populism
Warren Buffett appeared on CNBCâ€™s â€śSquawk on the Streetâ€ť December 11. CNBC â€śSquawk Boxâ€ť co-anchor Becky Quick threw the billionaire softball questions regarding the economy and his presidential picks.
Buffett was interviewed in
â€śToday he is in San Francisco and heâ€™s here for a very special cause â€“ campaigning, or actually trying to raise money for Hillary Clinton, whoâ€™s running for president,â€ť Quick said.
Buffett told Quick: â€ś[I] told her [
But why is Buffett, who stands to lose a lot of money from a higher tax rate if Clinton or Obama is elected, supporting these two Democratic candidates?
â€śThey know we got a wonderful country and we got a wonderful economic machine,â€ť Buffett said. â€śSo, they will build on that, but they will look to an
Buffett touted their views on health care and education as the reason he is supporting them.
â€śThey have a view that 300 million Americans in a country with $45,000 of GDP per person â€“ ought to have decent health care, there ought to be progress made on education and a number of things,â€ť Buffett said. â€śAnd I think they both share that the view we need to, more deserved respect around the world. I think this country has really lost its moral leadership around the world and I think both â€“ either of them could restore it.â€ť
Buffett was not challenged by Quick on the costs of their plans, nor the tax burden it would create.
Buffett has curiously become the darling of the media, in a time when businessmen are often attacked by the media. In October, he was interviewed by former â€śNBC Nightly Newsâ€ť anchor Tom Brokaw and made the outrageous claim the rich donâ€™t pay enough in taxes. The much-adored Buffett was scheduled to make three appearances on CNBC on December 11.