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Transcript of Buffett and Munger on CNBC


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This was hilarious to me:


MUNGER: I think the economy might work a little better if the corporate tax rate was low. But I think it would be a mistake for American corporations to get really low taxes.

BUFFETT: And when you talk about the tax rate being lower, you're not talking aggregate corporate tax rates being lower; you're just talking about evening out the rate, right?

MUNGER: Yes. I would like a consistent rate that everybody paid.

BECKY: Something more like Simpson-Bowles was talking about, getting rid of a lot of the —

MUNGER: Something more like Latvia.

BECKY: Latvia?

BUFFETT: Nobody knows what the hell Latvia means —

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