So, I was doing really deep research on you. We were back at the bar? Yeah. No, I was just reading Wikipedia. And one thing really jumped out at me, so I wanted to start with the beginning, one of the first things that you ever did. Apparently(显然地) you made(使) $1,000 as a kid on a chain letter.
Yup. So you're that guy who actually made money with one of those things. Yeah, it was my junior(年少的) year in college and I had to figure( 认为) out a way to pay for school, so they had one of these chain letters going around, and so I just said, okay(好), somebody's making money, so I would go around and it was a deal where you gave(做) me $50 and send $50 to the person at the top of the list, took him off, and then put your name at the bottom. And what I did was, I helped everybody, all my friends, sell their version, so they got all their money back, and then the power of networking back then, it just took off, and I spent the next few weeks just going to my mailbox every morning collecting $50 checks and cashing them, and I paid for my junior year of college. That's quite a story. It seems like that's been happening to you ever since.
But I think there was more work involved more recently. You're well known for having opinions, and so I'm hoping to elicit(得出) a number of them from you. As a member, I get so many hot button issues, I wasn't really sure which one to start with. But we may as well start with, given I think it's been in the air all the past two days, which is the economy. You've written on your site you've posted a number of opinions about the economy, about bankers(银行家) in particular, and about modest(谦虚的) proposals(提议) for how to fix it. So what do you think is wrong, and how do we correct it?
Just a simple question like that, right? Solve it for us. Solve it for us. I think the primary problem that we're facing, I think, and everybody's recognizing this, is bipartisanship. Everybody's so partisan(党派的) in their feelings. Everybody is so philosophically driven that no one's addressing(写名字地址) issues.
So I think we have to get out of politics and actually have action items. We fail to recognize that at some point, things change, and you have to let go of old dogmas and old philosophies(哲学) and just deal with what's in front of you, like in business. It's just little simple things that we all know are obvious. We get a budget(预算) from our government leaders. That's a ten-year budget. Who does ten-year budgets?
How are you going to fix something in ten years? Even the communist(共产主义的) countries have five-year budgets(预算) and five-year plans. And then there's action items. One of the things I wrote was we have to fix the housing(房屋) situation. We had a bubble. It burst(使爆裂).
We have significant(重大的) problems. The values have gone down. To me, the action item is all these homes that have been foreclosed on, that Fannie Mae, et cetera, own. You bulldoze(威吓) them. You tear( 撕裂) them down. You reduce the supply.
That increases the value of what's there. You create work for people who are most difficult to employ. All they got to do is knock things down. That's an action item. There's just so many things that you can come up to do. But we have to recognize that someone's got to come in and propose(提议) actions.
And then I think there's I've talked to a lot of people who have asked me about taxes. And the headline going out was, Cubans willing(愿意的) to pay as much as he needs to in taxes, et cetera. I hate taxes. I hate taxes as much as the next guy. You said paying taxes is the most patriotic(爱国的) thing you can do. But when you look at the economy the way it is, you can't just, again, go back to philosophies or dogma.
You have to recognize the circumstances(情况) and contribute(捐献). And I've earned quite a bit from not just Yahoo, but the fact that you can be entrepreneurial( 企业家的) in this country. There's infrastructure(基础设施). There's people who have given their lives to create that opportunity for me. And for me, in the current state of things, you have to be able to give back(在后). And for any entrepreneur(<法>企业家) here, going out there, busting your butt(屁股), being rewarded(报答) economically(在经济上), the most patriotic(爱国的) thing you can do is pay taxes.
Because ask not what your country can do for you, but what you can do for your country. And I think you can just go down a long list of action items. But until we start taking action instead of talking about things in general, broad(宽的) brushes, we're going to have problems. So would you say you're in the Buffett camp, in terms of you're not paying enough taxes?