Warren Buffett Said 'We Were Promised a Rising Tide Would Lift All Boats'—But Instead, It 'Lifted All Yachts' And the Rich Got Richer

Warren Buffett is a billionaire known for his frugality—still living in the same modest house he bought in 1958 and famously avoiding luxury. But what's more surprising than his lack of a yacht is his willingness to call out the people who own them. In a 2012 interview with Charlie Rose, Buffett didn't hold back on the growing wealth gap. "We were promised that a rising tide would lift all boats. A rising tide has lifted all yachts." His point? The economy may have grown, but the benefits didn't