Warren Buffett Quotes


It makes no difference to a widow with her savings in a 5 percent passbook account whether she pays 100 percent income tax on her interest income during a period of zero inflation or pays no income tax during years of 5 percent inflation. Either way, she is 'taxed' in a manner that leaves her no real income whatsoever. Any money she spends comes right out of capital. She would find outrageous a 100 percent income tax but doesn't seem to notice that 5 percent inflation is the economic equivalent.


Citations

Buffett, Warren E. "How Inflation Swindles the Equity Investor." Fortune, May 1977.

Related Quotes

Warren Buffett
Warren Buffett
  • Born: August 30, 1930
  • Nationality: American
  • Profession: Businessman, Investor, Philanthropist

Warren Edward Buffett is an American investor, business tycoon, philanthropist, and the chairman and CEO of Berkshire Hathaway. He is considered one of the most successful investors in the world and has a net worth of over US$100.6 billion as of April 2021, making him the world's seventh-wealthiest person.