Cases Quote by Warren Buffett
“More investment sins are probably committed by otherwise quite intelligent people because of "tax considerations" than from any other cause. One of my friends-a noted West Coast philosopher-maintains that a majority of life's errors are caused by forgetting what one is really trying to do. This is certainly the case when an emotionally supercharged element like taxes enters the picture (I have another friend-a noted East Coast philosopher who says it isn't the lack of representation he minds-it's the taxation).”
About This Quote
Source Interview: CNBC, 2020
Intelligent people often make costly mistakes due to tax concerns, which distract them from their true goals.
In simple terms: Taxes can cloud judgment.
Key Takeaway
Prioritize core objectives.
Themes
finance
decision-making
psychology
Mood
thoughtful
analytical
Type
advice
philosophical
When to use this quote
- tax planning
- career decisions
- personal finance
- strategic planning
Key Concepts
behavioral economics
goal alignment
Questions to Reflect On
- How do taxes influence your choices?
- What core goal guides your decisions?
A Different Perspective
Tax considerations are not the only source of error.
![“[High income tax rates] not only check consumption but discourage investment and encourage...the avoidance of taxes [rather] than the production of goods.[...]Our present tax system...reduces the financial incentives for personal effort, investment, and risk-taking.” quote by John F. Kennedy](https://sms4smile.com/quotes/img-quotes/d3c/john-f-kennedy-246_avoidance_high-income-tax-rates-not-only-check-con_1252162.jpg)
![“[As in the case of] alcohol prohibition, illegality has driven organized crime, sent countless people to jail, and killed many thousands. Repression does not work.” quote by Sam Branson](https://sms4smile.com/quotes/img-quotes/212/sam-branson-36458_alcohol_as-in-the-case-of-alcohol-prohibition-il_8703.jpg)
