If you talk to Warren [Buffett], he’ll tell you his preference is not to meddle in the economy at all - let the market work, however way it’s going to work, and then just tax the heck out of people at the end and just redistribute it. That way you’re not impeding efficiency, and you’re achieving equity on the back end.
Barack Obama
Pluses and minuses to this approach. I do worry that excessive taxes decrease the motivation to create wealth, however I like to see Obama taking a free market stand. Fits well with his post-partisan stance. Read the whole article below, very well written (and long) summary of Obama’s economic policy.
(via fred-wilson)
Source: fred-wilson
