Warren Buffett and Charlie Munger's Surprising Views on Social Security

During Berkshire Hathaway’s 2005 shareholders meeting, Warren Buffett and Charlie Munger were asked about Social Security. Buffett defined it as a “transfer payment by the people who are in their productive years to the people who are past their productive years.” Munger strongly supported the program and advocated for changes, including a substantial increase in the Social Security wage base. Since then, the wage base has, indeed, risen to $168,600 for 2024. Buffett also expressed his support for increasing the retirement age, citing the increase in life expectancy since 1935.

Warren Buffett and Charlie Munger's Views

Warren Buffett and Charlie Munger shared their perspectives on Social Security during the 2005 Berkshire Hathaway shareholders meeting. Buffett described it as a method of transferring funds from those in their productive years to those who have surpassed their productive years. Meanwhile, Munger expressed strong support for the program and proposed changes, including a substantial increase in the Social Security wage base.