. >> warren buffett: yeah. just pass it around. >> stahl: once howard settled on farming, warren bought land for him, but then made his son pay rent and tied it to his body weight. so, if you gain weight, your rent goes up, and if you lose weight, the rent goes down. >> warren buffett: something like that. financial incentives are supposed to work in some things. they don't work very well in weight, incidentally. >> stahl: but why wouldn't you just give your son a farm? >> warren buffett: well, i just don't think that's, you know, the way to bring up a son. i mean, i don't think he's entitled to be given a farm just because his last name is buffett. we didn't want them to see the world, you know, through the lens of a super-rich kid that got everything he wanted. >> stahl: you just didn't want spoiled little rich kids. >> warren buffett: yeah. yeah. >> stahl: warren buffett was famously reluctant to give his money away to charity... >> warren buffett: i'm turning it over to you. >> stahl: ...so it came as a big

buffett he is lying warren buffett is the largest shareholder of berkshire hathaway he's paying thirty five percent of his income in tax because that's the rate that berkshire hathaway is paying so warren buffett earns ninety nine percent of his income through berkshire hathaway he only earns a tiny fraction of his income on an individual basis so all of the taxes that warren buffett pays only one third of berkshire hathaway he pays through his ownership of that company so he is paying a lot of money in taxes he is lying this is just pure propaganda coming from warren buffett well you know how you know you can say that you think it's propaganda coming from warren buffett but the fact is peter is that he's not the only one out there that is going to saying tax a minute i have to wrap that because the guy has to get off that ship again will do not want to pay higher taxes that is crazy you could probably get a handle a bunch of out there like i said was look at us on this show but peter i really i really did i got a rash that they were leading up to ninety nine point nine percent of the

buffett or you to hell you know you can say that you think it's propaganda coming from warren buffett but the fact is peter is that he's not the only one out there that is knowing that is saying taxing when i have to wrap that big bang has to get on catch up again will do not want to pay higher taxes that is crazy you could probably get a handle a bunch of out there like i said we've spoken to some on this show but peter i really i really did i got to wrap it there leading up to ninety nine point nine percent of the people in the upper brackets do not want to pay more taxes nobody wants to pay more taxes all right good night peter thank you. are you coming up next on the show the statistics show that hollywood is a tough brain from a piracy problem that frankly the executive probably explain that in just a moment and it is finally recognizing ron paul. as a current g.o.p. front runner that doesn't come without thinking up into this perhaps help to weather the storm and if they can james pull ups after the break. into that only military mechanisms do not work to bring justice or accoun

while on that topic, what about warren buffett? there may be a lot more to the so-called fiscal hero and friend of president obama when the curtain gets peeled back. all this in a mind blowing new book. the book is called throw them all out. it's author peter schwizer. good evening. >> good evening. night to be on with you. >> nice to have you on. what's your theory, members of congress on both side, republicans, democrats, they come in and make less than 200,000 a year, and they leave very wealthy people. how does this happen? >> well, they are able to leverage their position and take advantage of their position in ways that people couldn't with other jobs. when it comes to stock trading, for example, they are able to use inside information that they glean from their government service about individual companies or about about the economy in general. they get special access to ipo shares of stock, which give them huge returns on a day or two, and they are getting those stocks primarily because of their position in power. and they

you have a circumstance where warren buffett may or may not have helped to design the effective bailout but it cannot be avoided the fact when he was doing so he was actively and aggressively buying millions of shares of stock in the companies that would benefit from the bail-out he was helping to design. it doesn't matter if you are an investor how good your analysts are or your number crunchers if you don't know how the bailout will be structured, you will not be a beneficiary. now i will talk briefly about the third part of the crony capitalist system that i call the green energy economy that barack obama has created and this is another example of crony capitalism. people are familiar with solyndra given a $535 million government guaranteed loan the chief investor was an individual who is a bumbler for the obama campaign to have the sound of political favoritism i had been researching this program more than a year and if you look at the entire program can be fined solyndra is the tip of the iceberg. of approximately $20 billion handed out, you can link more than 16,000,000,002 obama

. >> warren buffett. my secretary pays a higher tax. cut it out, warn. pay the woman some more money. >> go, warren, go. enough already, the republican debate and the kardashians. maybe they can all get together on the stage. >> rich? >> joe biden. his scott hartnell glorifycation are occasionally amusing but always tiring. >> donald trump and sarah palin. >> enough already. enough whining about political partisanship. america is in crisis. the nation's future is in political play. consensus is essential. we will not be able to chart a clear direction without it. it may take one or two more election cycles for that consensus to build. until then the times call for enriching exchanges of views, and that means argument. rational argument. this show enough of whining and overargumentation. okay. worst lie, pat? >> worst lie? i just don't know where that money went, said john corzine. >> i'm just a historian, said newt gingrich. >> rich? >> worst lie, courtesy of occupy wall street and then president obama. the idea that some people are poor in this country

. >>> what do warren buffett, rick perry and occupy wall street have in common? we'll tell you coming up. >>> plus, san francisco's homeless get a home for the holidays. we'll show you how it all works coming up next. >>> and to join t check us out o, check us out on facebook. search nbc bay area. we're back in two minutes. di >>> welcome back, everyone. it's 11:22 right now. >>> san francisco mayor ed lee announced a new $3 million initiative to provide housing for 200 homeless families. the home for the holidays initiative is a result of a partnership between the city and salesforce.com founder mark beniof. he made a private donation of $1.5 million. many people are wondering why the public never knew about the fund and why the money sat untouched until now. plans are in the work for a public memorial service to honor the life of a bay area billionaire and philanthropist. a public service will be held wednesday in san francisco. the 77-year-old died yesterday from complications linked to his leukemia treatment. he built a fortune as an investor, which made him

. >>> why is warren buffett so good at picking the right stock? those answers ahead. >> it takes the right time of the season. [ male announcer ] juice drink too watery? ♪ feel the power my young friend. mmm! [ male announcer ] for unsurpassed fruit and veggie nutrition... v8 v-fusion. could've had a v8. at bank of america, we're lending and investing in communities across the country, from helping to revitalize a neighborhood in brooklyn to financing industries that are creating jobs in boston or providing funding for the expansion of a local business serving a diverse seattle community and supporting training programs for tomorrow's workforce in los angeles. because the more we can do in local neighborhoods and communities, the more we can help make opportunity possible. (greenery) fruit cake. how are ya? [fruit cake] dry. (greenery) who's the new guy? edible arrangements bouquets, beautiful like flowers, but unforgettably delicious, visit, call, or go to ediblearrangements.com ♪ >>> welcome back to "the early show," everyone. it is 8:00 on

buffett's secretary to pay a higher tax rate than warren buffett. [ applause ] by the way, warren buffett agrees with me. so do most americans. democrats, independents and republicans. i know that many of our wealthiest citizens would agree to contribute a little more if it meant reducing the deficit and strengthening the economy that made their success possible. this is not about class warfare, but the nation's welfare. it's about making choices that benefit not just the people who have done fantastically well over the last few decades, but benefits the middle class. those fighting to get into the middle class. the economy as a whole. finally, a strong middle class can only exist in an economy where everyone plays by the same rules. from wall street to main street. [ applause ] as infuriating as it was for all of us, we rescued our major banks from collapse, not only because the full-blown financial melt down would send us into a second depression, but because we need a strong healthy financial sector in this country. part of the deal was that we wouldn't go back to business as usual. th

buy lunch with warren buffett for you know twenty million dollars have lunch with them at smith and wollensky say house in manhattan sit down warren tell me instead of buying this and buying that you know like the alley was that study guy is no different than gadhafi from an oppressive regime but he plays the banker you know wear a suit when you asked me like yeah i'm smooth a bit like a financial terrorist max actually a viewer of this program sent in this video called khadafi should have been a banker. not so. good. at. the for millions of nice choice i believe i saw an image of you wearing a vermilion boat out of a million by the time the show very recently that was such an outrage against it that i haven't or in one sense let's turn here to bill black because we've had him on the show and he is one of the real thinkers behind this global insurrection against banker occupation he provides the legal the legal framework and he's in this headline max bill black dantes divine comedy bank stars edition he's responding to this quote from obama where he was interviewed on sixty minutes one of the

. >>> why is warren buffett so good at picking the right stock? those answers ahead. >> it takes the right time of the season. [ male announcer ] juice drink too watery? ♪ feel the power my young friend. mmm! [ male announcer ] for unsurpassed fruit and veggie nutrition... v8 v-fusion. could've had a v8. (greenery) fruit cake. how are ya? [fruit cake] dry. (greenery) who's the new guy? edible arrangements bouquets, beautiful like flowers, but unforgettably delicious, visit, call, or go to ediblearrangements.com laces? really? slip-on's the way to go. more people do that, security would be like -- there's no charge for the bag. thanks. i know a quiet little place where we can get some work done. there's a three-prong plug. i have club passes. [ male announcer ] now there's a mileage card that offers special perks on united, like a free checked bag, united club passes, and priority boarding. thanks. ♪ okay. what's your secret? ♪ [ male announcer ] the new united mileageplus explorer card. get it and you're in. >>> good morning. i'm grace lee.

him and george soros, now warren buffett's in on it. and it's like i don't want to dissuade them of that. i read on the internet last week, this was on the right wing blogs that i got $50 million. and i'm going like wow that would be really cool if i have 50 million, but don't deny it. >> how much have your movies grossed in total i don't have the number right off hand. >> what would you guess at? >> half a billion dollars? >> right. so you either have got the worst agent in the world or you must have made -- >> i have got a new agent now. "bowling for columbine" not only did i not make any money on it, i didn't get a paycheck. i made that movie for free. >> you wouldn't dispute that you have earned million of dollars. >> that is correct. my first film i made $3 million. they gave me a check from this company right here. thank you, whoever you are. that was in 1989. i had three or four good years where "fahrenheit 9/11," my book "stupid white men," those years i would be in the 1%. >> your argument is that you don't qualify every year.

he's also the son of warren buffett. howard recently came "outfront" to talk about his work with feeding america. it's the third biggest charity in this country. >> we have almost 50 million food insecure people in this country. and a lot of those people, i mean, the number has risen significantly in the last few years. >> food insecure means not starving, but not sure where the next meal's coming from. >> you don't know where your next meal's coming from. you really don't know how you're going to feed your child or yourself. and of course, people within those numbers change as well. so there's more than just that number, overall, from, you know, throughout a year. but, really, they don't know where their meal's going to come from. >> we have an incredibly cheap food supply in this country. i mean, we grow it here. when you look at, sometimes, how much things cost in the grocery store, you know, 20 cents, sometimes -- and yet, that's still not within reach of a lot of people. >> well, we have really, in the developed wor

he's also the son of warren buffett. howard recently came "outfront" to talk about his work with feeding america. it's the third biggest charity in this country. >> we have almost 50 million food insecure people in this country. and a lot of those people, i mean, the number has risen significantly in the last few years. >> food insecure means not starving, but not sure where the next meal's coming from. >> you don't know where your next meal's coming from. you really don't know how you're going to feed your child or yourself. and of course, people within those numbers change as well. so there's more than just that number, overall, from, you know, throughout a year. but, really, they don't know where their meal's going to come from. >> we have an incredibly cheap food supply in this country. i mean, we grow it here. when you look at, sometimes, how much things cost in the grocery store, you know, 20 cents, sometimes -- and yet, that's still not within reach of a lot of people. >> well, we have really, in the developed wor

. >>> why is warren buffett so good at picking the right stock? those answers ahead. >> it takes the right time of the season. [ male announcer ] juice drink too watery? ♪ ♪ feel the power my young friend. mmm! [ male announcer ] for unsurpassed fruit and veggie nutrition... v8 v-fusion. could've had a v8. get the technology they love on the network they deserve. and video chat with up to 9 of your friends with the galaxy nexus by samsung or get the samsung stratosphere and for a limited time get twice the data for the same low price. verizon. ♪ ♪ [ male announcer ] little owen wanted to play but his nose was raw and sore. achoo! [ male announcer ] and common tissue made it burn even more. ♪ ♪ puffs plus lotion is more soothing than common tissue, and it delivers our most soothing lotion for every nose issue. a nose in need deserves puffs plus lotion indeed. to give your cold a comforting scent try puffs plus lotion with the scent of vicks. wm÷ (greenery) hey cheese log. (cheese log) hello centerpiece. (greenery) fruit cake. how are y

. >> warren buffett, america's second richest man is a household name. his son howard, not so much. and yet he's the person warren buffett wants to succeed him as chairman of berkshire hathaway, the megaholding company that buffett built. like his father, howard does not live the high life. in fact, he's a farmer who would rather dig up the ground than sit in a boardroom. >> are you sure he's your son. >> well, i think that's worth checking out. you'll have a big exclusive. >> i'm steve kroft. >> i'm lesley stault. >> i'm morley safer. >> i'm lara logan. >> i'm byron pitts. >> i'm scott pelley. those stories tonight on "60 >> i'm scott pelley. those stories tonight on "60 minutes." it blind what is it? our college savings account. how do you think it happened? not sure. i think something we bought a while ago turned out to be something else, annnnnd, i remember a lot of other stuff in there had the word "aggressive" in it. is everyone okay? well, now, yeah. who knows later. ♪ is the pain reliever orthopedic doctors recommend most for arthritis pain, think again. and take aleve. it

bush, bill clinton, the reverend billy graham, and warren buffett. hillary clinton tops the list as the most admired woman for a record 16th time. she was followed by oprah winfrey, michelle obama, sarah palin, and condoleezza rice. >>> sears still has not announced if any of the stores in our area will shut down bh the company closed up to 120 sears and kmart stores. the company is blaming poor holiday sales for the store closings. the retailer says the move will generate 140 to $170 million in cash and inventory sales. the news sent sears holdings corporation shares down 27%, the biggest decline in more than eight years. >>> sharp, samsung, and five other makers of lcd screens are agreeing to pay $550 million to settle price fixing charges. lcd panels are used in tvs, pcs, laptop monitors, and mobile phones. $501 million will go to refund qualified customers who bought products containing the lcd panels between 1999 and 2006. . today a u.s. park police officer will be laid to rest. sergeant michael boehm died while trying to save a man who had jump

. >> that is warren buffett's idle. >> all what is to thank for your father's longevity? >> the fact that he has an office to go to the and a java their responsibilities. that is extremely important. >> you think he will live to be as old as your father? do you want to? >> i was lucky to be born in 1905. i was just in time for a lot of new technology. radio, television. >> do you have a cell phone now? >> yes. i have to remind myself of what my number is. >>brian: a beautiful sight this evening. lights all over the place. the lights are shining bright in the oracle arena. san francisco is at 48, dublin 37. third american canyon, right now is that the freezing point. 32 yet looking at the forecast for tonight we will see more cool temperatures. not as cold as it has added. >> tomorrow, another nice day. low clouds and fog. for some of the clouds will reduce visibility. here is a look at future cast. >>brian: the next seven days will be pretty dry. mid- upper 50s in the east bay inland valleys. we will have fog and frost to start today with some places in the 20s in the mor

that is his brand. >> billy bram and warren buffett. >> a final farewell to kim jong- jong-il. a soldier says how can the sky not cry? the people are all crying tears of blood? is this stockholm syndrome? >> i don't think that begins to describe it. that's very mild compared to what these poor people are suffering. it's hideous and sad. >> the level of pathos in these images cannot be overstated, and i will say when this show ends, you should see the control room, the staff on the set, similar outpouring of grief -- >> every day. >> bring it back in can it be two hours? >> reverent al says he wants that in brooklyn when he dies. >> never mind. we don't look forward to it. we hope it never happens. thanks again to hugo, alicea, maggie, and sam. that's all for now. i'll be back tomorrow at noon eastern and, of course, you can always follow us on twitter @nowwithalex. chris cillizza is in today for andrea. how goes it? >> it goes well. a roll lickiicking good time on "now" with alex set. coming up chuck "today" jotodd after wrapping up his interview with mitt romney. >>> and fixi

so now warren buffett and bill gates don't have anywhere to hide their money. everybody's going to have to pay that 15%. no longer will warren buffett be able to pay a lower tax rate than i had secretary. >> the point is nobody is going to have to and if you're very rich, you don't have to worry about tax shelters anymore or loopholes because you're paying 15%. in other words, you know, this is the same rate that the people who are secretaries and sanitation workers and people who are, you know, who are childcare workers are paying multimillionaires will be paying. at 15%, steve, this is the most unfair, stupidest tax plan i ever heard. it just creates a gigantic hole in the federal budget. this is the independent, nonpartisan tax policy center giving us these data. i mean this is taking supply-side economics to a bizarre extreme. and nothing trickled down from the bush tax cuts we know that. most people got no benefits at all. and now what is gingrich doing? he's taking let's take the tax cuts and magnify them 500%. >> hold on. he says eliminate all capital ga