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FBN’s Stuart Varney sounds off on the hypocrisy of Warren Buffett and whether the president is promoting class warfare.
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Don't wanna tourism and I don't -- I don't have had my -- -- don't -- a warm moment.
Alleges the biggest phony on the planet I think is a flat out hypocrite and a and annoys me intensely -- -- Okay how how long the list do you want to get sweetheart deals which are not available to you -- -- for example.
He buys five billion dollars worth of Bank of America stock but he gets a special dividend rate on it 6% or you -- if you annoyed by Bank of America we don't get back.
He gets the right to buy nearly a billion -- as a Bank of America at seven dollars and fourteen cents a shaft.
It's now on nine dollars he's made nearly two billion dollars on each that he could -- high of that price.
He says I don't want to get and I want to give my money away I'm mr.
generosity.
So it has a little -- at the end of the agreement by which he gives his money to the Bill & Melinda Gates Foundation and -- -- coda to the very end says.
Hope will give this gift so long as we don't have to pay any state tax okay.
This is the man who wants everybody else to pay a lot of money and tax but deliberately refuses to give the government -- ton of tax when he dies.
It's called hypocrisy and it drives me now.
Slow should -- should drive the -- of other Americans.
Not students on ninety until there are and the president on -- took on him but.
Contender and has -- to went to to have described gonna have a way of of the class warfare.
-- now you talking to the expert on class wolf you may have noticed that I have an accident I am originally an englishman.
We invented class warfare and I know it when I see it and I see it right now.
The president I think use these deliberately.
Dividing the country.
He's got an enemy's list its bank has its oil cup disease health insurance it's the rich it's Republicans.
And he devises.
And picks -- map on popular target the rich.
That is class warfare anyway you slice it he reminds me of old Europe that's exactly what -- would doing in Europe for a long long time and -- what President Obama has brought to America.
What we should half of I'm sorry go on length about this all -- what we should have is that economic policy.
Not a political attack line.
We are in great danger our economy.
We're loaded with debt and the economy is slowing down all over again we go to mass unemployment problem a what -- we get from the president class -- -- Beat up on the rich as if taxing the rich a little bit mole -- pay for all of these entitlements which we want to give away.
It's class warfare it's wrong and I would say it is on American.
After working Interpol in this country don't pay any taxes -- 10%.
Of the world's of people I.
70%.
Of the -- right.
Like enough to me the top 1%.
Of income news pays 40%.
Of all the money that comes into the federal treasury from the federal income tax 1%.
Accounts for 40% of all that comes it.
I would suggest that that is a fashion that they are paying that -- but the president says -- If they just -- a little bit more he says we could afford all of these entitlements that's nonsense the Buffett rule would bring in May be.
Four and a half billion dollars a yeah.
That would come about three day -- interest.
On our national debt that's it's -- -- who -- go from President Obama some -- Are here and arms from part of garden with a sort of I talked awful assembly line -- -- -- Anger note known and -- enough now and so I'm always had a good -- and -- what point do you get fired up.
Every deadlines.
What what are key what the president just said there -- useless some bail -- financial guy.
I don't write them missed settled below.
-- brutal and arrest him.
Are you're optimistic.
Generally -- -- -- our economy and about this country over the very long to yes America will Rio Pia when you're so very long term remain.
Well we've got to get through this election.
Look it is my opinion that we really must change course.
In a national politics and our economic policy we must change -- if we go down this road continue down this road where it would -- you we Europe.
-- gone bankrupt.
We we'll have a debt crisis at some point in the near future.
But I'm an optimist I think things will turn around I think we'll see the light I think we'll return to being a robust dynamic private enterprise economy.
Leading the world as we should I think we can do that I'm an optimist that we will do it.
Musical -- on our darkened room for.
-- -- -- -- -- -- -- All -- all -- and you know like constructive to their cover illustration board.
All by the end of this trans gender miss universe -- militants about.
If that is to invest it was clear -- that's intrinsic.
Expect has run adolescent to field no visible he acknowledges that on the financial -- -- well now that's France -- into question nobody that a few details were convinced your product apple -- -- thank you very much altered their wives help them as well because severe accident because.
Because you got about.
Guidance and January you can you can -- is election man and so we're reaching your -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- The download shown I'll help they -- no business of baseball show excellent and -- got a plan your weekend around 10 o'clock Saturday morning I'll be watches Saudi -- as a group -- did you want.
I'll let a mole in c'mon let's move with the times.
Do I give us some excluding people for this reason that I don't know that it would doing my aunt Margaret come on in so -- and -- your board -- morning at a gas prices.
May have level off at around three an idea of -- lot but.
Not reaching five dollars.
And all boredom boredom jobless figures each morning.
-- Look I think the economy has turned south again and yet we had a nice little bit of growth at the end of last year -- is gone I think we're now.
Move which was much lower rates of growth.
And I think we've seen it.
A very small decline in the price of gas in the last week it's come down about four cents on -- national average that isn't much.
I think we may go back right back up again above four dollars dollars is the national average in the summits on.
Loss of driving and we changed the sum of blood vessel tactical stuff I think it's a temporary plateauing for gasoline we go back up again in the -- Just as the economy starts to head south even more and also -- more prominent.
Yeah but then yet if I was it if it look if you press me I will say that I support the conservative course because.
I really want a change in direction -- national economic policy.
I'm Romney is the guy who may be able to do it.
I actually event not an unknown -- but there's an awful candidate.
Large effect attributed sort of action from Florida and I think I've heard a lot of people say that -- not a good candidates.
Doesn't campaign well.
Doesn't have the force and you know.
He's not yet come up with a nice easy to understands line about water is his economic policy.
And how does he attacked president Obama's policy.
I mean Ronald Reagan had a perfect line all you better off now the new world for years ago that looks I mean that won -- the eighty election.
Brought Mitt Romney doesn't have at this point a similar line and he needs one well crippled.
-- -- -- -- -- -- -- -- -- -- -- While there's -- economy stupid to recycle Corvel slime but this election -- -- about Electoral College morsel whenever she.
Well it's always like that is it but I album I look I think in America there is a deep seated -- to get back to prosperity.
We've had a rough time for three years we've been promised -- return to prosperity.
But it's not that I think about it wants to get back to that and that's the underlying -- whose.
