Berkshire shares left behind as S&P 500 rallies to record high
CNBC • • business
Key Points:
- Warren Buffett and Charlie Munger stated they would not consider moving Berkshire Hathaway's technical holding company overseas to avoid U.S. taxes, emphasizing loyalty to the country and its role in their success.
- Munger described the idea of reducing Berkshire's tax burden to zero as illegitimate and inappropriate given the company's prosperity.
- Buffett highlighted that Berkshire Hathaway's growth and acquisitions were only possible in the United States, expressing gratitude for the opportunities the country provided.
- Both acknowledged they pay substantial taxes and follow tax laws, including engaging in tax-driven investments like low-income housing and renewable energy projects, which have bipartisan support.
- They rejected the notion of paying extra taxes beyond what is legally required but expressed no resentment about the taxes they do pay, emphasizing fairness and compliance.
