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Warren Buffett says he's not worried about the fiscal cliff
(CNNMoney) - Warren Buffett is not worried about the fiscal cliff.
While it's not ideal, the founder of Berkshire Hathaway thinks that President Obama must be willing to keep pushing for higher taxes on the wealthy, even if it triggers the fiscal cliff that would lead to the automatic onset of tax increases and spending cuts on Jan.1.
The U.S. economy, he said, can weather it for a month or two. "We're not going to permanently cripple ourselves," Buffett told CNN's Poppy Harlow in an exclusive interview at Berkshire Hathaway's Omaha headquarters Wednesday.
Harlow sits down with John and Zoraida on Early Start today to discuss her interview and to reveal who the billionaire is endorsing for president in 2016.
Check out CNN Money's full write on Harlow's interview with Buffett here.
On Twitter
I am very scared of the tax rates on stock dividends going up. I was left handicapped after a car accident. Grandparents set up trust intended for retirement but after accident I had to start living on the income earned from the trust. It isn't much. Less than what I earned as pharm rep. Single mom raising 2 kids and if that same amt was on the earned income line I would qualify not only for child tax credit but low enough for EIC. But because it is on the dividend line, I owe a couple thousand every year between state and federal. While grateful for what I've got, I can't afford the taxes now. #scared.