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Warren Buffett Remarks on European Debt Crisis, the “Buffett Rule” and the American Worker: Interview by Business Wire CEO Cathy Baron Tamraz

Just-released remarks are from Buffett’s participation in Business Wire’s 50th Anniversary celebration at the NYSE

Tuesday, November 15, 2011 8:08 am EST

Dateline:

NEW YORK
"You’ve seen a period where the American workers have generally gone no place and where the really super rich as a group increased their incomes five-for-one in this rarified atmosphere"

NEW YORK--(BUSINESS WIRE)--NEW YORK--(BUSINESS WIRE)--In an extended interview with Berkshire Hathaway’s Warren Buffett, Business Wire CEO Cathy Baron Tamraz gets her boss to open up on an array of timely topics, from the “Buffett Rule” and the state of our economic recovery to the European debt crisis.

Regarding the “Buffett Rule,” President Barack Obama’s suggestion that those who make more than $1 million a year should pay at least the same percentage of their earnings in taxes as middle-class Americans, Buffett acknowledged that class warfare has been waged. “My class has won,” he said.

“You’ve seen a period where the American workers have generally gone no place and where the really super rich as a group increased their incomes five-for-one in this rarified atmosphere,” he said. Buffett called for shared sacrifice. On the potential of having a tax named after him, Buffett quipped, “It was my childhood dream to have a tax named after me.”

Commenting on the European debt crisis, Buffett was critical of the Eurozone structure, saying, “Don’t ever give up the right to issue your own currency.”

His advice to all investors involves two milestone books on investing and economics. “If you understand chapters 8 and 20 of The Intelligent Investor (Benjamin Graham, 1949) and chapter 12 of the General Theory (John Maynard Keynes, 1936), you don’t need to read anything else and you can turn off your TV,” Buffett said.

The 14:14 interview of Buffett and Tamraz took place on September 30 at the Business Wire 50th Anniversary luncheon at the New York Stock Exchange with public relations and investor relations professionals

About Business Wire

Business Wire, a Berkshire Hathaway company, celebrates its 50th anniversary in 2011 as the global leader in press release distribution and regulatory disclosure. Public relations and investor relations professionals rely on Business Wire for both broad-based and targeted market reach. A recognized disclosure service in the United States, Canada and a dozen European countries, Business Wire handles XBRL tagging, document formatting and regulatory filing into EDGAR, SEDAR and other systems. Business Wire provides online newsroom hosting and integration services as well as search engine optimization, mobile distribution and detailed measurement on every press release. Its patented NX delivery platform provides simultaneous full-text posting of Business Wire content to news systems and websites in virtually any country or language. With 31 bureaus worldwide, Business Wire offers local service and global reach.

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Contact:

Business Wire
Tom Becktold, +1 310-820-9473
Senior Vice President, Marketing
Thomas.Becktold@BusinessWire.com

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Business Wire CEO Cathy Baron Tamraz interviews Warren Buffett. (Video: Business Wire)
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