Buffett on inequality

Warren Buffett isn’t worried about the American economy. But he is worried about inequality.

Transcript

00:00We should stand for more than the fact that we're the wealthiest country.

00:11Now, the real problem, in my view, is the prosperity has been unbelievable for the

00:17extremely rich people. If you go to 1982, when Forbes put out their first 400 list,

00:23those people had $93 billion. They now have $2.4 trillion, $25 for one.

00:29This has been a prosperity that's been disproportionately rewarding to the people

00:35on top. We do have to have a system that, as the output of goods and services keeps

00:41increasing per capita, that it takes care of the people who are willing to work and

00:45really are not getting by very well with the family on a 40-hour week.

00:49The question is whether we can be the moral leader as well as the economic leader. We

00:52should stand for more than the fact that we're the wealthiest country.

00:59Stock market has been going up, basically, since March of 2009.

01:05If I ever get elected president, I will never claim credit for anything the market does.