Most people know of the great investor Warren Buffett, but how many people know of his political father? This was Howard Homan Buffett (1903-1964) of Omaha, Nebraska. Buffett was in the investment business and was very politically conservative. His views led him to politics, and in 1942, he was elected to Congress, representing Omaha, despite the widespread belief that he would lose to moderate Democrat Charles McLaughlin (Klein).
While in Congress, he voted a strongly conservative line, opposing wartime subsidies and price controls as well as backing tax relief over President Roosevelt’s objections. He was skeptical of foreign aid as well as of the authority of the military. During his second term, he darkly warned that the United States would become a dictatorship if curbs were not enacted on the power of the military brass (The New York Times). Buffett was strongly opposed to civilian military training as well as to the draft, regarding such measures as coercive. He voted against both Greek-Turkish Aid in 1947 and the Marshall Plan in 1948. On the latter, Buffett stated, “If the Marshall Plan meant $100 million worth of profitable business for your firm, wouldn’t you invest a few thousands or so to successfully propagandize for the Marshall Plan? And if you were a foreign government, getting billions, perhaps you could persuade your prospective suppliers here to lend a hand in putting that deal through Congress” (Klein). He mostly backed the agenda of the 80th Congress, with the occasions in which he dissented from his fellow Republicans appearing to be of a horseshoe theory nature, being in opposition to certain measures as not conservative enough. Buffett represented a strongly liberty-oriented conservatism (American conservatism is to be seen as a striking of a balance between order and liberty, rather than preferring order over liberty as certain non-conservative intellectuals seem to think) that was skeptical of state power in multiple ways. Buffett repeatedly called for a full return to the gold standard and wrote, “With a restoration of the gold standard, Congress would have to again resist handouts…Congress would be forced to confront spending demands with firmness. The gold standard acted as a silent watchdog to prevent unlimited public spending” (Buffett). He proved time and again that the voters had elected a man of high ethical caliber. This was particularly evident by his refusal to go on junkets (taxpayer funded trips), his refusal to accept a pay raise, and he was recounted by his wife as considering legislation on the basis of, “Will this add to, or subtract from, human liberty?” (Klein) On civil rights, he thrice voted to ban the poll tax, voted for a Powell Amendment in 1946, and voted against establishing a VA hospital that would only serve black patients that attracted the opposition of the NAACP and the two black members of Congress at the time. His DW-Nominate score was 0.686, in the top tier for Republicans of his day and exceeding that of Barry Goldwater.
The 1948 election proved a surprising boon to President Truman and the Democrats, and Buffett was among the legislators swept away, in this case by liberal Eugene O’Sullivan. He did, however, make a comeback in the ideologically favorable 1950 election. Americans for Democratic Action judged four years of his service in Congress, and his scores come out thusly:
1947 – 8
1948 – 17
1951 – 8
1952 – 0
Something to note about these scores is that for 1948, the two votes he cast that were “liberal” could be seen as a horseshoe effect and the 1951 vote regarded that VA hospital previously mentioned. In 1952, Buffett opted not to run for another term, departing electoral politics for good. He remained active in conservative causes after his departure from Congress, being part of the Board of Trustees for Americans for Constitutional Action from its founding until his death and also was a member of the John Birch Society. In 1956, he delivered a lecture in which among other things, he stated, “Today’s situation is the result of an alarming and devious government intervention in the economic affairs of the nation for objectives not contemplated by the men who wrote the Constitution” (Klein). Buffett died of cancer on April 30, 1964, at 60.
Despite the apple having fallen a bit far from the tree on politics, with Warren adopting many of the opposite politics of his father, he credits him as a great teacher who inspired a lifelong love of reading and investing, and said of him that “The best advice I’ve ever been give is by my father, who told me it took 20 years to build a reputation and 20 minutes to lose it” (Elkins).
References
ADA Voting Records. Americans for Democratic Action.
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Buffett, H. (1948, May 6). Human Freedom Rests on Gold Redeemable Money. The Commercial and Financial Chronicle.
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Buffett, Howard Homan. Voteview.
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https://voteview.com/person/1218/howard-homan-buffett
Elkins, (2017, September 29). Warren Buffett credits his success to these 3 people. CNBC.
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Howard Buffett, 60, An Ex-Congressman. The New York Times.
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Klein, P. (2012, September 20). Buffett’s dad was the Ron Paul of his day. The Washington Examiner.
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Mad Politics: The Bizarre, Fascinating, and Unknown of American Political History 