FBN’s Liz Claman: Warren Buffett Says Tax Cuts Have Been a ‘Boon’ for His Businesses

RUSH EXCERPT:

CLAMAN: "That’s all he wants to understand, and that’s why his stock went from just a couple of bucks, 50 years ago to more than $300,000 a share now, Neil yes the apple news was certainly very big. I just got a good 25 minutes with Warren Buffett on a whole host of issues here on what is the largest shareholder meeting in the world, you can see behind me it looks a little empty because he just took the stage with Charlie monger, his vice chair but what you have here on the exhibition floor in Omaha, Nebraska are the 61 or so businesses he owns because he wants to make money even during his shareholder meeting. Let me quickly tell you, Neil I got him on tax cuts and the corporate tax cut. He said as he stood right by the Burlington northern display, yes he owns an entire railroad, that the tax cut for corporations has been a boom and certainly for most if not all of his 61 businesses, and then Matt rose who runs the railroad, he’s see ING a car go in and out, Neil and he said 18 out of his 22 cargo businesses are up, that is highly unusual, and he said I believe that we haven’t even begun to see the beginning, even the real beginning of how positive the corporate tax cuts can be. A couple of things he said he sees inflation coming in the last two months Warren Buffett telling fox business that he had seen more signs of inflation popping up specifically he’s got a couple of companies that use a lot of steel, got precision steel not to mention precision cast parts which makes all kinds of automotive and aerospace parts. He said the prices are absolutely speaking, some of his businesses will in turn have to hike their prices that’s plain out inflation. He says he hasn’t seen inflation like this in quite some time, but he said it started about two months ago that of course might coinside with President Trump bringing up the tariffs so I asked him are we in a tariff war with China and he said it’s a tariff skirmish, not a war just yet and I believe meaning Warren Buffett that both sides, Neil, he said both sides are smart enough to realize that would be a big mistake. So I’m talking about all kinds of issues with him, even, Neil I even brought up Bitcoin because five years ago his vice chair Charlie monger, I asked him what he thought of it five years ago, Charlie said it was rat poison and today I asked Warren five years later it’s worth 9,000 is it still rat poison and he said rat poison squared something tells me he’s going to talk about that and much more in this meeting that has drawn the record crowd of all-time 42000 people."