Warren Buffett & Charlie Munger: Social Security
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- Опубліковано 7 чер 2019
- Warren Buffett and Charlie Munger argue the benefits of transferring wealth to those outside of their productive years. From the 2005 Berkshire Hathaway annual meeting.
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What a wonderful talk by both Warren Buffett and Charlie Munger on social security 😊
Here! Here! Mad props!
After 5 minutes of Warren, here comes Munger's one liner 6:40
The Ethics and Evolution of a country is evident in how they treat their aging population. I found this very refreshing. 'A Democrat and a Republican view'...that was a great comment. Thank you for sharing you're sense of humanity, Warren Buffet. Charles Munger was very logical, but he said the same thing. It's logical.
Worth a listen
6:41 Munger the MENACE
@9:04 Charlie munger mic drop
even if they think differently, they can't state it, because they would be very unpopular.
Now he looks amused and not disgusted! (Charlie)
8:00
Agreed Warren.
Social Security "trust funds" is just an accounting record for the Treasury. FICA payroll taxes does not fund the SSA. The Treasury/ federal reserve does. All SS checks and SS direct deposit payments are made directly by the Treasury. Not by the SSA. Abolish FICA/ the spending cap SS. And increase the starting SS payments up to $2500 a month. And tied it to COLA and the CPI inflation rate every year
Charlie has quite the look on his face as Warren is speaking! I’m not even halfway through the video, so I haven’t heard Charlie speak yet! He looks somewhat disgusted! Not by what Warren is saying, necessarily, but by the question itself.
I feel like he always look like that 😂
scott medes, I guess that’s true, but here even more so! Lol 😂
He always looks like that.
Was this recorder during Trumps term?
I think it's from 2005.
Airline free?
That size around 120 ton sporty tank lika lambogini have to use 2 len on road for can driving it.
It's not either of the two. The way I see it social security is when a person is just to old to be taking mid 30 year old who is denied employment because the 63 year has been with the company longer and who loves change. I gave this example to my mother who was ensuring she will hit that 67 year limit and cash in on her pension. But I don't ever believe the system was designed to become a taker/maker,but more as a old security claim adjustment & who is holding back the mid age who will eventually take that 67 year old job. Reagan pretty much locked it in. However with the CPO or the other acronym is intended to sustain. Remember this, SSI was not only intended for its self, shareholders and image,but yes retire, inspire the entire moral,just don't lock yourself in a spot due to teñor and at a loss to where you have to choose your breakfast based on the opinion of your wife.
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Kimji all said see cost me da.but kimji not frèe and show on tv cost i wanna ask them what da hell r u dancing for? Dancing it making them asset rigth?
B L free?
rich or poor you doesnt care i know .but i have to using the law for commender you be polite should care my bill
I know kimji noid and use reason by see cost ? It make me ha .
Coke free ?
Why ask billionaires who have no interest in it?
Because they are intelligent economist, and they know bullshit when they see it.
Because they have thought on everything. You can ask them anything.
Buffett collects a social security check every month
Mark did you bother to listen to their answer?
Crimes
To increase the wealth of the bottom 20% we must let the top 1% succeed as much as possible.
That is BS!
You obviously know more than Warren and Munger
I agree with this. A rising sea floats all ships. The fixation on the % is arbitrary and dumb. There should be a fixation on solving homelessness not “poverty” as relative poverty is again ambiguous
How many jeans DO Jeff Bezos and the rest of the 1% buy every year? Would it sustain the entire Jean industry to have only their consumption? If you removed the 99% consumption would there still be billionaires?
Apply this logic to every real good and sort out where more money gets ploughed back into the economy between those two divisions. Cars, ice cream, lunchables, McDonald's, etc. There is only so much that a person can consume before it's just wasted in the Cayman Islands
There is a lot more money in Social Security with all the elderly who died of Covid. Therefore, Social Security payments should increase for the remaining pool of people . There's more in the pot now, so it needs to go up.
No. Social security is still spending more money than is coming in from payroll taxes
Only time i disagree w these two geniuses. Social security is a joke.
Bella Marley why do you think so? Just out of interest as I’m not from the us
Social security is a joke because it will be bankrupt in 2034, unless taxes are raised to fund it beyond this point. Also, it is a joke because anything the government does is mismanaged, sometimes to a horrible degree. If the US government wants to help SSI work in the future they must tax the benefits of incomes over $122k which is the current point in which you stop being taxed for this benefit. And, also allowing those who make over $122k to take a larger dollar amount at 65. another way SSI needs to be fixed is to only allow SSI benefits to be taken at 65, not 62. Society has the notion that at 65 you have to stop working. (I only agree with this as long as you are wealthy enough to not work) Another thing that must be done is stop the illegals from coming here and getting SSI money. SSI must also be phased out eventually by making all US workers save 6% of their own wages into a mutual fund of their choice. Can you imagine what how much money you would have if you could invest your own 6% from the time you started working at 18 YO.? Warren and Charlie must not understand how mismanaged the SS system is.
@@mr.taxpayer5289 hypothetically speaking, if SS system was managed efficiently and illegal immigration was cracked down, would you then like the SS system?
Private firms are more efficient at doing most things. However, most of the governments around the world build roads and bridges using tax dollars as private companies are very inefficient at doing this.
Most principles have exceptions. So when it comes to making important decisions, it's better to analyse it on a case by case basis instead of relying on what's generally true.
@@kevingeorge920 Hello, this is Mr. Taxpayer. SS is a trainwreck because the government has messed it up for decades. One key reason why I despise the current system is because the money that YOU earn in benefits will be gone if you die at say, 57 yo.....right.? your wife would not get these benefits that are right fully yours. How messed up is that? When illegals come here and dont work, but get free SSI benefits this is what I call theft. Or they might work for 2 years at a job, then claim a disability. (yes it happens all the time, one of my co-workers is married to a woman that works at a place that processes these claims) I would rather have a private company build a road for me than the government any day of the week. The profit incentive with an actual business is WAY more efficient than the government doing the work.
You are too dumb to understand it