By Jeff Poor | March 1, 2010 | 2:34 PM EST

It's not a secret that billionaire investor and Berkshire Hathaway (NYSE:BRK.A) CEO Warren Buffett is a supporter of President Barack Obama - having endorsed and raised money for him. But has Buffett's approval of the president mirrored the declining marks he's getting from the rest of America?  

No, according to Buffett, Obama's earned "high marks." Buffett appeared on CNBC's March 1 "Squawk Box" and assessed Obama's presidency to date.

"Well, I'm very glad I voted for him," Buffett said. "That has not changed. I think the problems he has run into are monumental, particularly in terms of the economy. I mean - we're running huge deficits, which we should be running from a Keynesian standpoint to try and get this economy moving. But they have consequences too. I do not envy the job of being President, but I give Obama high marks."

By Julia A. Seymour | January 7, 2010 | 2:18 PM EST
Rolling StoneEven popular liberals can come under fire from the media if they offer heretical views on global warming, which many in the media promote with near-religious fervor.

Rolling Stone magazine went after 17 global warming dissenters on Jan. 6, hyperbolically labeling them "The Climate Killers." Topping the list was Berkshire Hathaway CEO, Obama supporter and media darling Warren Buffett.

The magazine criticized Buffett for "doing far more than bad-mouthing climate legislation - he's literally banking on its failure" by adding 1.28 million shares of ExxonMobil to his books and acquiring a railroad that hauls coal.

Rolling Stone editor Eric Bates also told MSNBC's "Morning Joe" that Buffett "trashed climate change legislation calling it a huge tax saying it will cost jobs."

That's not even news, CBSNews.com reported in September that the Obama administration said cap and trade "would cost American taxpayers up to $200 billion a year." But Obama didn't make the list of "Killers."

By Jeff Poor | November 4, 2009 | 4:10 AM EST

Warren Buffett, the second richest man in the world and CEO of Berkshire Hathaway (NYSE:BRK.A), doesn't have much faith in the future of print media.

In an interview on CNBC's Nov. 3 "Squawk Box," following the announcement of his purchase of Burlington Northern (NYSE:BNI), Buffett was asked to comment on the future of news media, in particular newspapers and business news by "Squawk Box" co-host Becky Quick. Buffett is optimistic on the future of business news.

"Our system has just gotten started," Buffett said. "I mean, we've had a couple of hundred years of progress, but we have not exhausted our potential in this country. America's about business and business in America, you know have gone to greatness hand and hand. So, you do not need to worry about CNBC 10 or 20 or 30 years from now. Business will always be important to the American public."

By Brad Wilmouth | March 11, 2009 | 10:01 PM EDT

On Wednesday’s CBS Evening News, correspondent Anthony Mason made an observation rarely expressed in the mainstream media – that when the rich get richer, they do so by creating jobs that benefit everyone. Mason: "Two-thirds of these billionaires are self-made. They're the pioneering businessmen like Bill Gates who created the companies that have created the jobs and the wealth in this country. So we want them to get richer because when they do, we do."

Mason’s comments came after he had filed a report in which he filled in viewers on the staggering amount of wealth that has been lost by the world’s billionaires since last year. After he concluded by pointing out that "the pain of this recession is unrelenting and everywhere – from the bottom all the way to the top," anchor Katie Couric brought up the sentiment of class envy that many feel toward the wealthy, inviting Mason to explain why it is "short-sighted" for people to rejoice in the bad fortunes of the wealthy. Couric: "Having said that, Anthony, a lot of people aren't going to feel real sorry for these folks, even though on average they lost about 25 percent of their wealth. But you say that's shortsighted?"

By Julia A. Seymour | March 9, 2009 | 2:21 PM EDT

The U.S. is at war with the failing economy, according to Warren Buffett, who told CNBC viewers that it had "fallen off a cliff."

In September 2008, Buffett compared the market turmoil to "an economic Pearl Harbor," and on March 9 he returned to that metaphor in a "Squawk Box" interview that began at 6 a.m. and continued through the 7 and 8 a.m. program hours. Buffett also criticized the Democratic majority for losing focus and trying to move on "pet projects."

"If you're in a war, and we really are in an economic war, there's a obligation to the majority to behave in ways to not go around inflaming the minority. If on Dec. 8, or maybe it was Dec. 7, when Roosevelt convened Congress to vote on the war. He didn't say, ‘I'm throwing in about ten of my pet projects,'" Buffett said.

Taking aim at one such issue, interviewer Joe Kernen replied: "You might not have fixed global warming the day after - the day after D-Day, Warren."

By Kyle Drennen | July 29, 2008 | 1:28 PM EDT

Chip Reid, CBS Following a segment on Monday’s CBS "Evening News," on Tuesday’s CBS "Early Show," correspondent Chip Reid again touted Obama economic advisor Warren Buffett calling for more taxes on the rich: "Barack Obama met with his team of economic advisers Monday...But there's one who couldn't make it and had to put in his two cents by phone...Warren Buffett, the richest man in the world. Despite his billions, he says the rich are under-taxed."

Reid went on to outline Obama’s plan to remedy that under-taxing: "Obama wants to end the Bush tax cuts for people making more than $250,000 a year and use the money for a tax cut for the middle class." Reid also mentioned John McCain’s economic team: " John McCain is also tapping the minds of business leaders, including Carly Fiorina, former CEO of Hewlett-Packard and Meg Whitman, former head of ebay. They briefed reporters Monday on the importance of tax cuts for business."

By Brent Baker | July 29, 2008 | 3:35 AM EDT
Missing a golden opportunity to correct a specious presumption of Barack Obama and his liberal supporters that the wealthy are under-taxed, CBS reporter Chip Reid on Monday night highlighted how “ending the Bush tax cuts for people making more than $250,000 a year and using the money for a tax cut for the middle class” is one of Obama's highest priorities and one supported by “Warren Buffett, the richest man in the world who, despite his billions, says the rich are not taxed enough.” Reid, who later in his story asserted “critics wonder how” McCain could possibly balance the budget “given his support for extending all of the Bush tax cuts,” failed to inform viewers of how the wealthy increasingly pay far more than their fair share of income taxes.

The Tax Foundation reported on July 18 that new 2006 IRS tax data revealed “both the income share earned by the top 1 percent of tax returns,” those earning $388,806 or more, “and the tax share paid by that top 1 percent have once again reached all-time highs.” Gerald Prante pointed out those top 1 percent “paid about the same amount of federal individual income taxes as the bottom 95 percent of tax returns.” The top 5 percent, those making $153,542 or more, earned 36 percent of all the reported income, but they paid just over 60 percent of the total income taxes collected.
By Jeff Poor | June 25, 2008 | 4:39 PM EDT

In the past when Warren Buffett has spoken out the "super rich" needing to pay a higher tax rate, the media have hung on his every word. But, now that he has spoken out against a windfall profits tax on oil, will they notice?

Buffett said he disapproved of the windfall profits taxes in an interview with CNBC's Becky Quick on "Power Lunch" on June 25.

"I think it is very hard to have windfall taxes," Buffett said. "Steel has doubled in price. Is that a windfall for the steel producers? Sure. Corn is $7 a bushel; soybeans are at $15 a bushel. I don't think any candidate in his right mind with the number of electoral votes in farm states would say you ought to tax farms specially because they are getting a windfall."

By Tom Blumer | May 29, 2008 | 10:05 AM EDT

Matching predictions from Reuters and Bloomberg, the government's Bureau of Economic Analysis told us this morning that the economy grew at an upwardly-revised annualized rate of 0.9%.

As I've said frequently, this is nowhere near acceptable. But it sure as heck isn't a recession.

Initial reaction to the news by the Associated Press's Jeannine Aversa was unfortunately predictable (bolds are mine) --

The economy plodded ahead at a 0.9 percent pace in the first quarter - slightly better than first estimated - but still underscoring caution on the part of consumers and businesses walloped by housing, credit and financial problems.

By Scott Whitlock | May 19, 2008 | 5:49 PM EDT

On Friday's "Nightline," ABC reporter Bianna Golodryga filed a segment on the "super rich" who are untainted by the tough economic times and once again highlighted left-wing investor Warren Buffett's calls for more taxation. Without ever labeling Buffett as liberal (he has endorsed Democrat Barack Obama for president), Golodryga cheerfully proclaimed that the billionaire is "concerned about the burgeoning wealth gap." The ABC reporter then parroted Buffett's claim that his cleaning lady is paying more in payroll taxes then he does on capital gains. "She doesn't have a lobbyist," the investor complained

Of course, neither Buffett nor Golodryga pointed out that the top one percent of earners pay 39.4 percent of all federal income taxes. In fact, Golodryga has touted Buffett's liberal economic policies before. On November 15, 2007, on "Good Morning America," she lauded the investor for coming out "on behalf of fairness in taxes," in relation to his calls to retain the estate tax and (liberally) reform capital gains tax policy. She rhapsodized to viewers that Buffett was on "your side over taxes and fairness."

By Jeff Poor | December 11, 2007 | 2:39 PM EST

Who says businesspeople can't get a fair shake from the media?

By Scott Whitlock | November 15, 2007 | 12:58 PM EST

ABC's "Good Morning America" devolved into outright advocacy on Thursday as the morning program openly lobbied for more taxes, misled viewers about how much the wealthy pay and passed off an economic advisor to Hillary Clinton's 2008 campaign as an impartial observer. Correspondent Bianna Golodryga filed a report on liberal billionaire Warren Buffett and his assertion that he pays a lower percentage in taxes than his receptionist. GMA co-host Diane Sawyer turned the story into a class warfare campaign as she promised that the show would be battling "on behalf of fairness in taxes." The host lauded Buffett for taking "your side over taxes and fairness." Additionally, Golodryga fawned over the billionaire for advocating that Congress should retain the estate tax, another leftist position.

Video excerpt (2:15): Windows (1.39 MB) plus MP3 audio (1.02 MB).

At no point in the misleading report did any GMA host or reporter mention a fundamental fact: The wealthy already pay a disproportionately high amount of taxes. According to information just released by the IRS, the top one percent of earners paid 39.4 percent of all federal income taxes. The top five percent pay almost 60 percent of federal taxes. Golodryga did, however, make time to compare Buffett to Robin Hood, complete with an onscreen graphic, and harass other billionaires over the salaries of their receptionists. Sawyer claimed that most of these wealthy individuals were "hiding" and that GMA would call them on "[Buffett's] behalf."