Warren Buffett’s Annual Letter Says Berkshire Hathaway Received $29 Billion From New GOP-Trump Tax Code
BUFFET FOR AGAINST IT, BEFORE HE WAS FOR IT …
Warren Buffett, Chairman and CEO of Berkshire Hathaway, stated in his annual letter to Berkshire Hathaway investors that Berkshire Hathaway (BRKB) made a $65.3 billion net gain in 2017, but only $36 billion came from Berkshire’s operations and his brilliance. The other $29 billion came from the Republican-Trump tax cuts. Namely, the reduction in corporate tax rates. Imagine that 55.4% of Berkshire’s net gains came from Buffet’s efforts while 44.6% came from Trump and the Republicans. This from the man who backed Hillary Clinton and condemned the Trump policies on taxes. Oops, looks like the so-called Wizard of Omaha got that one 100% wrong. Every right thinking person without a political bias knew Trump was going to be good for the economy. Even the likes of Warren Buffet were wrong and tainted by their liberal bias.
It would appear that Donald Trump trumped Buffett.
Buffett told investors that Berkshire Hathaway (BRKB)made a $65.3 billion net gain in 2017 — but “only $36 billion came from Berkshire’s operations.”
The rest was a gift from the new U.S. tax code.
“A large portion of our gain did not come from anything we accomplished at Berkshire,” he wrote, adding that about $29 billion of that $65.3 billion gain came from changes to the tax law.
Buffett went on to extol Berkshire’s investing methods. Careful decisions and an aversion to debt and speculation has gotten the firm this far — and that’s the course it’ll stay on, he said.
But remember when Warren Buffet was against the Trump Tax plan? I am certain the Berkshire Hathaway investors are glad Trump went against the wishes of the individual they put all their trust in with their investments. I wonder who the investors of Berkshire Hathaway feel that the individual in charge of their investments cared more about politics than he did his fiduciary responsibility to their monies?
President Donald Trump’s tax reform plan came under new criticism on Tuesday from two towering Wall Street figures, including billionaire investor Warren Buffett, who called into question a Republican drive to slash the U.S. corporate rate.
With the White House and top Republicans in Congress already on the defensive over claims the plan would not cut taxes for many middle-class Americans, Buffett and BlackRock Chief Executive Larry Fink suggested in separate interviews that the corporate rate may not have to be cut as deeply as proposed.
“We have a lot of businesses… I don’t think any of them are non-competitive in the world because of the corporate tax rate,” Buffett, thechairmanand CEO of Berkshire Hathaway, told CNBC.
PRESIDENT DONALD TRUMP’S STATE OF THE UNION ADDRESS WAS A SMASHING SUCCESS … TRUMP IS MAKING AMERICA GREAT AGAIN!
According to a CBS News/YouGov poll that was taken following last nights State of the Union Address, an overwhelming 75% of those polled approved of President Donald Trump’s speech, while only 25% disapproved. The libs at CBS were not available for comment after the amazingly great poll ratings for Trump. Across the board, President Trump received stellar marks as compared to what the liberal MSM, Democrats and the LEFT has been spewing against him. When asked whether Trump should be given credit for the economy, 54% said a lot, 18% said some and 13% said a little. Only 15% said not much or none. Wait until the Trump-GOP tax cuts take affect and we shall see these numbers go even higher. Also, a remarkable 72% said the were in favor of Trump’s immigration plan.
Keep in mind while reading the poll results, according to the poll demographics, 52% were Trump supporters, 32% Trump opponents and 16% something in between. Also, 42% Republican, 25% Democrat and 33% Independent. Thus, there were a lot of Democrats and nearly most all Independents liked what President Trump was saying last night. An incredible 81% stated that the speech was trying to unite the country.
Three in four Americans who tuned in to President Trump’s State of the Union address tonight approved of the speech he gave. Just a quarter disapproved.
How did the speech make you feel?
Eight in 10 Americans who watched tonight felt that the president was trying to unite the country, rather than divide it. Two-thirds said the speech made them feel proud, though just a third said it made them feel safer. Fewer said the speech made them feel angry or scared.
Credit for the economy
And after hearing him speak tonight, 54 percent of speech watchers give him a lot of credit for the current state of the nation’s economy, up from 51 percent before they watched the State of the Union.
Hey Democrats, how are the November midterms looking?
2018 State of the Union Speech … President Trump States African American Unemployment Stands at the Lowest Rate Ever Recorded and Black Caucus Disgracefully Sits (VIDEO)
JUST HOW SCARED OF PRESIDENT TRUMP ARE BLACK POLITICIANS AND DEMOCRATS … HE IS PUTTING BLACK AMERICA BACK TO WORK AGAIN.
President Donald Trump is helping Make America Great Again for everyone. Trump’s economic visions does not discriminate. However, sadly the race-baitors in Washington, DC who would rather see their constituents continue to struggle, rather than Trump’s plan work. Fortunately that is not the case and Democrats look very petty and small.
Last night during President Donald Trump’s first State of the Union address, he provided a list of amazing economic accomplishments from his first year in Office, none more remarkable that black unemployment being at an all-time recorded low. President Trump stated, “And something I am very proud of, African-American unemployment stands at the lowest rate ever recorded.”
The reaction from the Democrat black caucus, crickets. Not one individual stood, of those that actually attended the SOTU. One individual, just one actually bothered to clap. UNBELIEVABLE. They could have cared less. This is leadership? Do you think this would have been the reaction to Barack Obama or Bill Clinton? Of course not. As stated at PJ Media, “Indeed, black unemployment reached a record low under President Trump. The fact that these black congressional leaders hold their hatred for Trump more precious than their celebration of success for their own community is telling.” These people are petrified that Trump is making inroads into the black community by taking them off the dependency of government welfare and providing them well-paying jobs. In the 2016 Trump received 8% of the black vote after being called a racist and white supremacist. That was dramatically up from 2012 and 2008. Look for the Democrats, LEFT’s, media’s and Congressional black caucuses worst nightmare to come true in 2020 … Trump will get double digits of black vote and break that Democrat wall too.
MAKING AMERICA GREAT AGAIN …
A recent Fox News poll shows that the President Donald Trump economy is being rated positively by voters at its highest rate in nearly two decades. The economic policies that Trump has put in place are working. 40% of Americans stated that the Trump administration has made the economy better. Jobs are being created, the stock market is at record highs, unemployment is down, black unemployment at historic lows, businesses are giving employees bonuses due to the Trump tax cuts and most Americans have not even begun to see the benefits of the Trump tax cuts.
A Fox News Poll conducted at the end of President Trump’s first year in the White House finds more voters rate the economy positively today than have in nearly two decades.
And they give the White House credit for that: nearly twice as many say the Trump administration has made the economy better than made it worse: 40 percent vs. 22 percent. One-third says the administration has not made a difference (34 percent).
Approval of the job the president is doing on the economy is above 50 percent for the first time.
I HAVE BEEN SAYING IT FOR QUITE A WHILE WITH THESE $15 MINIMUM WAGE WHINERS, DON’T ASK FOR THINGS, THEY MIGHT JUST COME TRUE …
Workers at McDonald’s and other fast food industries have been whining lately that they deserve a $15/hr minimum wage. Now it appears that if that happens, the human workers might get replaced by robots. It would seem that that at McDonald’s, a robot staffer is cheaper than a malcontent human one. I bet the robots can make change as well and have a better attitude. Who would have thought they were cheaper? Hmm, I did. For years I have been saying, the more folks whine about getting a “living wage” of $15 per hour, they more they would be replaced by machine.
A former McDonald’s CEO is warning that robots will take over jobs at the huge enterprise – because it’s cheaper than employing humans.
He said that buying highly skilled robotics is cheaper than employing people at the fast food restaurant.
The worrying forecast comes as he warns huge job losses are imminent, and that it’s ‘common sense’ to replace humans in the workplace.
This comes as a study into the future of human employment has predicted a surge in machine-led work such as robotic counsellors, body part makers and virtual lawyers.
The worrying research, by professor of management practice at London Business School, Lynda Gratton, and futurologist David A. Smith, suggests that humans will be replaced because robots are able to produce better results.
I think the exact words of warning to those complaining about wanting their pay to be doubled for doing a job that required little to no skill level was the following. By the way, minimum was meant to be a starter job, not your destination and to afford a home and children.
A note to the “Fight for 15? crowd … DON’T ASK FOR THINGS THEY MIGHT COME TRUE. If this BS is actually passed, all of you making $7.25 will most likely be fired and more competent people worthy of $15/hr will be taking your place. Or, if it were me I would automate the system and completely eliminate your position. How difficult would it be to replace order takers with kiosks both inside and outside to go? And sliding your credit or debit card into a machine to pay like at a gas station? Actually, I am surprised this has not been completely done already.