Posted at 01:48 PM ET, 08/16/2011

Warren Buffett on the two dangers to U.S. economy (video)

Berkshire Hathaway Chairman Warren Buffett (Rick Wilking/Reuters)
On the heels of his sharply worded op-ed that told Congress to “stop coddling the rich,” Warren Buffett visited the “Charlie Rose” show and continued his argument. The CEO of Berkshire Hathaway further expounds on his call to raise the taxes of the 3/10s of 1 percent of Americans, by raising the taxes on dividends and capital gains. He also warns what two threats he sees to a strong American recovery.

He said that he doesn’t think we’ll enter a double dip recession, unless two things happen: “people lose so much faith in government to handle things that they talk themselves into a huge funk in this country and... if somehow the troubles of Europe spilled over here.”

For the most part, Buffett, who brought his tax returns on the show, sounded optimistic about the country: “The American system works, it works wonderfully,” but he said it’s normal to have recessions from time to time. Hear his thoughts on what could harm the economic recovery here and see the whole interview here.

By  |  01:48 PM ET, 08/16/2011

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