Buffett says AHCA is tax cut for the rich

Buffett says AHCA is tax cut for the rich

"When the time comes-and it could come reasonably soon, even while I'm around-and we really don't think we can get the money out in a reasonable period of time into things we like, we have to reexamine, then, what we do with those funds", Buffett said. In October, Chief Executive Officer John Stumpf resigned after testifying to Congress on why the lender opened 2 million bank accounts without customers' permission.

Global businessman and investor Warren Buffett, also known as Oracle of Omaha, in an exclusive interview to ET NOW spoke on a range of topics, including the nature of business and markets in India.

"The huge money is in selling people the idea that you can do something magical for them", Buffett said.

Buffett, a supporter of Democrat Hillary Clinton in last year's USA presidential election, said he believes Berkshire has made no political contributions at the parent company level in his 52 years at the helm, but some subsidiaries in heavily regulated industries "are probably going to have to make some" contributions.

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Buffett also called rising medical costs the "tapeworm of American economic competitiveness", claiming it has been health care expenses, as opposed to high corporate taxes, that are holding companies back.

Bogle attended Berkshire's meeting Saturday after Buffett praised him in his annual letter to shareholders this year.

He said some of Berkshire's industrial units saw upticks in business this year, as have credit card companies such as Visa Inc V.N and American Express Co AXP.N , a longtime Berkshire investment.

The Berkshire Hathaway chairman said that India has a terrific future due to the brain power it has.

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Buffett said a CEO's natural tendency is to first defend his employees, but that should not have been the case if Munoz had seen the video.

Buffett, however, was skeptical about the plan's effect on Berkshire Hathaway. Buffett said such shifts help millions of people by providing necessities at a lower cost. Today, investors have to pay $934.15 per Amazon share and $950.28 per Google stock. He wrote that investors were effectively saying: "Don't send us a dividend but instead reinvest all of the earnings".

The executives who run Berkshire subsidiaries look forward to the meeting just as the shareholders do. While Buffett met Mr. Peanut at the Kraft Heinz booth, Miami Dolphin Ndamukong Suh wandered a few feet away without a crowd. "We do view Apple and IBM differently - Apple more of consumer business, IBM has more to do with products". 'I did not think [Bezos] could succeed on the scale he has'.

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