Article

2024-05-06 Economy

Warren Buffett reveals the news no American taxpayer wants to hear as the government tackles rising debt - here's what it means for you

[MAIL] Warren Buffett has said he expects the US government to increase taxes rather than reduce spending as the country struggles with its mounting national debt.

The declaration, delivered Saturday, comes as the US is hard-pressed to address widening fiscal deficits, and as the national debt recently topped $34 trillion - an amount nearly as big as the entire US economy.

More concerning is the fact the Fed and other money-minded officials have no plan in sight, paving the way for the Berkshire Hathaway boss's unsettling prediction. Buffett aired his prediction at his hallowed hedge fund's annual shareholder meeting in Omaha, attended by some of the top CEOs in the country.

There, the conglomerate reported its collection of businesses generated some $11.2 billion of operating earnings, up 39 percent from the year before.

Despite those results being a sign of a relatively robust economy, the 93-year-old who is valued at more than $131billion said he believes a federal tax hike is on the horizon.

Posted by Besoeker 2024-05-06 02:36|| || Front Page|| [11140 views ] Top

#1 Doomsayers

Famed economist who predicted 2008 recession warns Feds of huge 'shock' coming and reveals the stock

"The intense AI-fueled momentum to the upside is now heading in reverse, he said."

US will fall behind in AI race without onshoring chip production: 'Can't just design,' expert says

Posted by Skidmark 2024-05-06 08:36|| 2024-05-06 08:36|| Front Page Top

San Francisco Today!

Posted by NoMoreBS 2024-05-06 14:24|| 2024-05-06 14:24|| Front Page Top

#3 ^ The goal is to force the consumer to re-chink the EV issue. Red China is depending upon us. We must not let them down.

Posted by Besoeker 2024-05-06 14:48|| 2024-05-06 14:48|| Front Page Top

#4 No one in DC ever suggests getting rid of the ineffectual/corrupt departments such as education, energy, interior, homeland security, State, DOJ, FBI, NSA, CIA, ATF, IRS….. push it all to the states and local GIVERnments.

Posted by Airandee 2024-05-06 14:59|| 2024-05-06 14:59|| Front Page Top

#5 Time to stop foreign aid and downsize our bloated government.

Posted by 49 Pan 2024-05-06 15:36|| 2024-05-06 15:36|| Front Page Top

#6 Pa., West Va., Maryland all doing poorly. Virginia however seems to be be doing well. I spoke to two CPA's and asked if refunds were down again this year in Maryland. They are and they indicated withholding's were too low. Seems companies on their own reduced employee withholding's. Then food stamps also have been cut. Normally a family with children see big cuts from 200-600 monthly benefits to 25-27 dollars for a month. So the Maryland rainy day savings are gone already with the new administration in Maryland. Big tax increases and no cuts in many of the new spending programs. All the Democrats do is tax and spend.

Posted by Dale 2024-05-06 16:21|| 2024-05-06 16:21|| Front Page Top

#7 2 CPA's? You get around!

Posted by Frank G 2024-05-06 19:03|| 2024-05-06 19:03|| Front Page Top

#8 Play that tune.

Posted by Procopius2k 2024-05-06 19:51|| 2024-05-06 19:51|| Front Page Top

08:34 NN2N1
08:25 DarthVader
08:14 Super Hose
08:11 Super Hose
08:09 technochitlin
08:09 Super Hose
08:08 NN2N1
08:07 Super Hose
08:00 Super Hose
07:27 Grom the Affective
07:23 Procopius2k
07:23 Besoeker
07:07 Procopius2k
07:05 Procopius2k
07:04 Grom the Affective
07:03 Procopius2k
07:00 badanov
06:58 Grom the Affective
06:45 MikeKozlowski
06:44 Besoeker
06:37 Besoeker
06:34 MikeKozlowski
06:32 MikeKozlowski
06:28 NN2N1