Warren Buffett lashed out against critics of stock buybacks. The White House says it isn't anti-repurchases, it just wants to encourage smart spending.
were seen as aimed in part at Biden, after the US government imposed a 1% tax on buybacks last year and the president came out in support of raising it to 4%.
The NEC deputy director said Biden isn't publicly proposing to ban all share repurchases, and he's been clear about that. Berkshire has been one of the US's leaders in stock buybacks, spending nearly $8 billion on its own shares in 2022. Buffett and his team laid out a record $27 billion in 2021, and about $25 billion the year before that.
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