“President Barack Obama should insist on a tax increase for the wealthy, even if that triggers a leap off the fiscal cliff, says legendary investor Warren Buffett.
The economy can survive a two-month period to reach an agreement over the $607 billion in tax increases and spending cuts now set for Jan. 1, he tells CNN.
“We’re not going to permanently cripple ourselves,” says the Berkshire Hathaway CEO. “We have a very resilient economy. The fact that [lawmakers] can’t get along for the month of January is not going to torpedo the economy.”
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