Warren Buffett calls Trump’s tariffs a tax on goods, says ‘the Tooth Fairy doesn’t pay ‘em’

[Phys251]

From the center-right CNBC:

https://www.cnbc.com/2025/03/02/warren-buffett-calls-trumps-tariffs-a-tax-on-goods-says-the-tooth-fairy-doesnt-pay-em.html

Legendary investor Warren Buffett made a rare comment on President Donald Trump’s tariffs, saying punitive duties could trigger inflation and hurt consumers.

If it looks like a tax, walks like a tax, and quacks like a tax, it's a tax. Tariffs are taxes.

 

[Allan]

This morning on CBS Sunday Morning he referred jokingly to tariffs as "an act of war".

 

[dmpi]

Suddenly the left is against taxes?! Must have something to do with actually having to pay them instead of soaking 1%, who apparently still pay enough.

 

[Allan]

Suddenly the left is against taxes?!

Well this is dumber than normal.

 

[upsideguy]

Suddenly the left is against taxes?! Must have something to do with actually having to pay them instead of soaking 1%, who apparently still pay enough.

Tariffs are a regressive tax. The "left" has never been in favor of regressive taxes, so there is no inconsistency here.

 

[Phys251]

Suddenly the left is against taxes?! Must have something to do with actually having to pay them instead of soaking 1%, who apparently still pay enough.

Righties can always be counted on to carry water for the ultra-rich and for Putin.

 

[dmpi]

Tariffs are a regressive tax. The "left" has never been in favor of regressive taxes, so there is no inconsistency here.

'regressive' is just an excuse to get others to pay more than you do.

 

[SNOWFLAKE]

Suddenly the left is against taxes?!

Can't deal with the topic, so goes the left, the left, the left, the left, the left, the left, the left.

 

[KingLeo]

This is easy.
Believe a legendary and highly successful investor, Buffet.
or
A convicted felon with a life long addiction to being a scan artist, con man, and grifter, Trump.

 

[Questerr]

From the center-right CNBC:

https://www.cnbc.com/2025/03/02/warren-buffett-calls-trumps-tariffs-a-tax-on-goods-says-the-tooth-fairy-doesnt-pay-em.html

If it looks like a tax, walks like a tax, and quacks like a tax, it's a tax. Tariffs are taxes.

Specifically tariffs are *SALES* taxes, which means they are highly regressive and impact the poor more than the rich.

 

[Phys251]

Specifically tariffs are *SALES* taxes, which means they are highly regressive and impact the poor more than the rich.

Exactly why the far-right loves tariffs. They want the poor to pay more and the rich to pay less.

 

[Questerr]

'regressive' is just an excuse to get others to pay more than you do.

The Right has no problem making other people pay for things they like. No one cares what you say about this because your side is openly hypocritical.

 

[Slavister]

Suddenly the left is against taxes?! Must have something to do with actually having to pay them instead of soaking 1%, who apparently still pay enough.

The left has always been against taxes on the poor and pro-taxes on the rich. Too complicated?

 

[beancounter]

'regressive' is just an excuse to get others to pay more than you do.

Thank you for proving Phys251's point....

 

[beefheart]

Suddenly the left is against taxes?! Must have something to do with actually having to pay them instead of soaking 1%, who apparently still pay enough.

Damn, that is a stupid post.

 

[joluoto]

If Warren Buffet now is dumping stock and hoarding cash, well that doesn't sound very promising.

 

[OrphanSlug]

For the umpteenth time no matter what Trump supporters say to avoid the issue. All tariffs are a tax, designed to be inflationary, and as a cost to the importer are also just about always passed down to the consumer because it is aggregate.