"If you don't find a way to make money while you sleep, you will work until you die."
"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."
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Source: Warren Buffett's 5-Minute Plan to Fix the Deficit by Alex Crippen, www.cnbc.com. July 7, 2011.
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