Monday, January 29, 2018 / by Sean Zanganeh
If held for a long period of time and purchased at low rates, Buffett says houses are even better than stocks. He advises buyers to take out a 30-year mortgage and refinance if rates go down.
Video: Warren Buffet says good time to buy a home
Aside from the housing sector, Buffett says the U.S. economic recovery is healthy and won't be derailed by rising oil prices. He repeated what he's been saying throughout the recession, that it's always been a "terrible mistake" to be pessimistic on the U.S. over the long term.
Buffett says that except for its housing units, Berkshire's businesses have increased their hiring and that each business will have more employees at the end of this year than they did at the start.
But for the nation, he wouldn't be surprised if the unemployment rate returned to nine percent.
Buffett says that in "hindsight," he now thinks the government's bailout of the U.S. automakers was one of the best things to happen to the economy.
Video: Warren Buffet on the Economy
On taxes, Buffett says it's a myth that U.S. corporations are paying anything close to a 35 percent tax rate and maintains those taxes are not "strangling" American competitiveness.
He dismisses suggestions by critics that if he wants the super-rich to be taxed at a higher rate then he should write a check and make a voluntary donation to the Treasury. Buffett responds that contributions aren't going to solve the massive debt problem facing the U.S.
He says it is a "travesty" that everyone else is being asked to make sacrifices but not America's most wealthy people.
While he would accept Joe Kernen's suggestion for a tax on a person's total wealth, he says he doesn't think that's the best way to go, in part because it's hard to value assets like farms.
He also says he would accept taxing dividends at the higher ordinary income tax rate, depending on what that rate would be.
Video: Warren Buffet Tax Code Favors Rich
**Article Credit to CNBC click to read full article**
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