Democrats Learn from Buffett

Warren Buffett recently co-hosted a fund raising dinner that raised at least $1 million for Democratic presidential candidate Hilary Clinton, according to an AP article. This article revealed a few of Mr. Buffett's stances on political issues.

First of all, he's a Democrat. While those in attendance at the fund raising dinner speculated that Warren will endorse Hilary Clinton for president, he is also slated to host an event for Barack Obama later in the summer.

During his speech at the dinner, Buffett said that we have a chance to repair a lot of damage in 2008. "We have a wonderful economy. The market system works in this country. Our problem is how we conduct ourselves in the world," he said.

He then went on to express his opinion of the tax system. The system favors the rich, according to Buffett. "Let's just see what Americans, chosen, are paying compared to the people who clean their offices." He went on to state that his $46 million in income was taxed at a higher rate than the $60,000 one of his secretaries earned.

Photo: REUTERS/Mike Segar


Lunch with Buffett auction update:

As of Friday, June 29, 2007, there have been 66 bids for lunch with Mr. Buffett. The bidding presently stands at $313,600.00 with 4.5 hours left in the auction.