Warren Buffett said he expects the U.S. government to increase taxes to tackle widening fiscal deficits rather than reduce spending.'I think higher taxes are likely,' he said on Saturday at Berkshire Hathaway's annual shareholder meeting in Omaha.'They may decide that some...
Warren Buffett said he expects the U.S. government to increase taxes to tackle widening fiscal deficits rather than reduce spending.
"They may decide that some day they don’t want the fiscal deficit to be this large because that has some important consequences. So they may not want to decrease spending and they may decide they’ll take a larger percentage of what we own, and we’ll pay it," he said. Asked whether he was concerned about the rapidly rising levels of U.S. government debt, Buffett said what worried him was the fiscal deficit more than the size of the Treasuries market - which is now nearly $27 trillion.
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