Warren Buffett predicts ‘higher taxes are likely’ since the national debt won’t pay for itself
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Warren Buffett, chairman of Berkshire Hathaway, predicts that higher taxes are likely in the future due to the national debt not being able to pay for itself. He expressed frustration that other companies are not paying their fair share of taxes. Buffett mentioned that under the Trump administration, the statutory rate for corporations was reduced to 21% in 2017. He believes that the government may decide to increase taxes to reduce the fiscal deficit. Buffett has advocated for those who can pay more taxes to do so and supports the idea of companies like his paying a larger percentage of their earnings to the government. The Biden administration is proposing higher capital gains taxes, including on unrealized gains. Buffett sees no alternative to U.S. Treasury bonds and believes that U.S. debt will be acceptable for a long time. He also mentioned that the U.S. has become complacent about the national debt issue since Bill Clinton balanced the budget and has not addressed the risks from unfunded entitlement programs for Medicare and Social Security.

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https://fortune.com/2024/05/06/warren-buffett-taxes-national-debt-berkshire-hathaway-apple/