Last week we talked to Brian Hamilton of the financial analysis company SageWorks about the fiscal cliff’s impact on American companies’ investments.
“The message to Washington is make a policy—even if it’s not great–and get it out early,” Hamilton told The Cycle.
But Warren Buffett argues in Sunday’s New York Times that investors will always invest–even if their tax rates go higher, and even if they don’t know their tax rate until after the December 31 fiscal cliff deadline passes.
So let’s forget about the rich and ultrarich going on strike and stuffing their ample funds under their mattresses if—gasp—capital gains rates and ordinary income rates are increased. The ultrarich, including me, will forever pursue investment opportunities.