← BackTranscript

Why Buffett doesn't give to super PACs

Buffett & Munger2012-05-05videoOpen original ↗

1 chunks · 1,517 chars · 3 speaker-tagged segments

SpeakersQuestioner2Warren1
QuestionerWith the election coming up, have you thought about making a donation to a super PAC to try to protect a competitive advantage?
WarrenNo, I won't. I, you know, I wish it never had, Citizens United never have enough. It's very tempting. And I will hear this argument put forth to me. People will say, well, you know, we don't believe in it either, but they're doing it on the other side. And, you know, you've got hundreds of millions pouring it on the other side and you're going to tie your hands behind your back, you know, just over principle. But, you know, I think the whole idea of super PACs is wrong, and I think the idea of huge money by relatively few people influencing politics. I think we've got enough of a push toward a plutocracy from a lot of other factors that we don't need to throw it into the voting process. The idea that I should toss $10 million into some super PAC, which is going to spend its whole time kind of misleading. people about the opponent's behavior or record. I don't want to see democracy going in that direction. Well, there are certain subjects where I would give money to a silver pack if I thought it would work. If I thought I could really reduce legalized gambling in the United States by a major amount, I would be willing to spend some money to get it done. I think it does us no good. And the extent we have allowed our securities markets to be More like gambling casinos, I think that's a dumb outcome, too.
QuestionerWell, if you got a server back out there, call on Charlie. Not me.