from today's wall st j,



"I don't mind at all, under current conditions, building the cash position," Buffett declared at the event known as Woodstock for Capitalists. "I think when I look at the alternative of what's available in the equity markets and I look at the composition of what's going on in the world, we find it quite attractive."

"One thing that may surprise you... Almost everybody I know pays a lot more attention to not paying taxes than I think they should. We don't mind paying taxes at Berkshire, and we are paying a federal 21% rate on the gains we're taking. That rate was 35% not that long ago, it's been 52% in the past... and the [federal government] can change that percentage any year. I would say that with present fiscal policies, I think that something has to give, and higher taxes are quite likely... if they don't want the fiscal deficit to be this large because that has some important consequences."

Berkshire Hathaway FAQ

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