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The politics of Warren Buffett

By Muckety

July 14, 2007 at 7:30am

In business, Warren Buffett likes to invest in industries he understands. That means insurance companies, a candymaker, furniture and jewelry stores, even a daily newspaper. Nothing high tech.

In politics, the Oracle of Omaha is much the same. He is one of the world’s wealthiest people, but remains an outspoken critic of economic inequality. He lives in the same Omaha house today that he bought for $31,500 in 1958 and mainly supports Democrats.

Buffett helped Hillary Clinton raise $1 million at a New York fundraiser in June and says he will do the same later for Barack Obama.

“If you’re the luckiest 1 percent of humanity, you owe it to the rest of humanity to think about the other 99 percent,” Buffett says. Of course, just as in business, he would be hard pressed to ignore a dream deal. For him, that would be a presidential ticket of New York City mayor Mike Bloomberg, who recently became an independent, and California governor Arnold Schwarzenegger, a Republican with populist views.

“That would be one hell of a team,” Buffett told Time magazine.

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