Barron’s is out with its list of 100 Most Respected Companies. (Spoiler alert: Apple kept its spot at the top of the list.)Among the losers this year was Berkshire Hathaway, the global conglomerate run by billionaire Warren Buffett. The companies ranking fell twelve spots to #15.
Yet, to judge from write-in comments and conversations with money managers, respondents don’t appreciate Buffett’s vocal advocacy for upper-income Americans to pay more in taxes. His vigorous support encouraged President Obama to back a minimum 30% tax rate on incomes above $1 million, dubbed the “Buffett tax” with the Berkshire CEO’s approval.
Says Adrian Day, president of Adrian Day Asset Management in Annapolis, Md.: “Buffett’s pseudo-folksiness is just a little too much. Also, I can’t respect a company whose head wants to raise my taxes.”
Day didn’t have to add that jab about “pseudo-folksiness,” but he did.
Read more at Barrons.com.
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