OMAHA, Neb. (AP) — CLIFF CONCERNS: Billionaire Warren Buffett said the so-called fiscal cliff has no bearing on any of his long-term investment decisions.
POLITICAL PRESSURE: Buffett says he’s confident Congress will eventually come up with a plan to deal with the tax increases and spending cuts set to take effect Jan. 1. He says there will be a lot of pressure on lawmakers to address the fiscal cliff, and he doesn’t believe it will cause another recession.
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TAX TIPS: Buffett says Congress should increase taxes on wealthy people like him and allow most of the Bush tax cuts to expire.
