"I have never been able to understand why the tax comes as such a body blow to many people since the rate on long-term capital gain is lower than on most likes of endeavor (tax policy indicated digging ditches is regarded as socially less desirable than shuffling stock certificates)."

3 likes

Source: Warren Buffett: I Haven't Seen As Much Economic Fear In My Adult Lifetime. Charlie Rose, www.cnbc.com. October 1, 2008.

About the author

Warren Buffett

Investor, Businessman

Warren Buffett is a renowned investor and philanthropist known for his value investing philosophy and leadership at Berkshire Hathaway.

All quotes by Warren Buffett →

Same author

More quotes by Warren Buffett

See all →
Warren Buffett Investor, Businessman

"Look for 3 things in a person. Intelligence, Energy, & Integrity. If they don't have the last one, don't even bother with the first two."

Read quote
Warren Buffett Investor, Businessman

"Successful Investing takes time, discipline and patience. No matter how great the talent or effort, some things just take time: You can't produce a baby in one month by getting nine women pregnant."

Read quote