02/26/2025
Any takers in the 800 other companies want to pay their fair share? Give the voters a break and then we would have the money to even make you richer by buying your goods.
President Trump’s DOGE findings -The Democrats put the voters in the poor column by spending all of our tax money – give us a break. AND, NOT ONE PERSON HAS GONE TO JAIL?
Top Biden Officials Who Helped Weaponize DOJ Land Cushy University Gigs
ttps://www.msn.com/en-us/money/other/warren-buffett-paid-5-billion-in-taxes-and-says-if-800-other-companies-paid-their-share-no-one-else-would-have-to-pay-a-dime/ar-AA1zQov1?ocid=msedgdhp&pc=U531&cvid=862294fbf54b4febea52669429d3b95c&ei=32
What Buffett Said© Image via Shutterstock
Warren Buffett, the legendary investor behind Berkshire Hathaway (NYSE:AAPL) shares or Coca-Cola (NSYE: KO) dividends—he went deeper, talking candidly about America’s massive deficit and how it could impact everyone’s wallet.
Buffett’s Warning: Higher Taxes Are Likely
Buffett made it clear that the government’s current financial strategy can’t last forever. He pointed to the growing fiscal deficit, which means the government spends much more money than it collects. With characteristic simplicity, he laid out the tough choices ahead.”With the present fiscal policies, think something has to give,” Buffett said. “And I think that higher taxes are quite likely.”
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He reasoned that although reducing spending might seem logical, it’s politically tough. Lawmakers are hesitant to cut programs or services people rely on, making tax hikes the more probable solution.
Buffett also shared just how much Berkshire Hathaway contributes to the federal government, revealing an astonishing figure: “We sent in over $5 billion to the US federal government last year. If 800 other companies had done the same thing, no other person in the United States would have had to pay a dime of federal taxes—no income taxes, no Social Security taxes, no estate taxes.”Related video: Warren Buffett’s First Time On Television (Benzinga Finance)
Warren Buffett’s First Time On Television.
Despite acknowledging that paying billions in taxes isn’t enjoyable, Buffett emphasized he doesn’t mind writing the check, seeing it as a responsibility to a nation that helped Berkshire flouris”It doesn’t bother me in the least to write that check,” he said. “We always hope, at Berkshire, to pay substantial federal income taxes.”Trending: Maker of the $60,000 foldable home has 3 factory buildings, 600+ houses built, and big plans to solve housing — you can become an investor for $0.80 per share today.Elon Musk Takes a Different Route in 2025But not everyone sees higher taxes as the solution. Less than a year after Buffett’s remarks, Elon Musk teamed up with President Donald Trump to launch the Department of Government Efficiency.
Instead of pushing for increased taxes, Musk’s DOGE task force is aggressively cutting government spending, aiming to slash between $1 trillion and $2 trillion from the federal budget by July 2026. Musk’s approach has involved substantial layoffs of federal employees, drastic reductions in agency budgets, and closures of some federal agencies.
These aggressive moves sparked immediate backlash and controversy. Critics argue that Musk’s radical cost-cutting could weaken public services and compromise government functions. However, Musk insists that eliminating inefficiencies and wasteful spending will ultimately benefit taxpayers far more than raising taxes ever could.
Buffett’s Predictions vs. Musk’s Actions
Buffett’s predictions from 2024 painted a clear picture: he believed raising taxes was inevitable because serious spending cuts would be too politically unpopular. Now, Musk’s DOGE is testing that theory, shaking up Washington and forcing America to confront a fundamental choice: Is it possible to solve the deficit by cutting spending alone, or will Buffett’s prediction of higher taxes ultimately prove correct?
As Buffett put it plainly last year, “If the government wants to take a greater share of your income, or mine or Berkshire’s, they can do it.” Musk’s DOGE team is betting America won’t have to—not if their unprecedented cost-cutting gamble pays off.
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© 2025 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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This article Warren Buffett Paid $5 Billion In Taxes — And Says If 800 Other Companies Paid Their Share, No One Else Would Have To ‘Pay A Dime’ originally appeared on Benzinga.com.
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