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Buffett: Congress likely to tackle tax

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Warren Buffett said he abstained in Coca-Cola's shareholder vote on a controversial pay plan because he had 'no desire to go to war' with the company, even though he disliked the plan.


Buffett said the plan may be changed before it is implemented, so that it is no longer 'excessive.'


He said it should be 'no surprise' to people that corporate boards are 'clubby' and partially 'social organizations.' 'There's a great tendency to act in a socially acceptable way instead of a business maximizing way.'


Buffett added that you can get things done without getting into a fight, and that's true outside the board room as well.


- By CNBC's Alex Crippen. Follow him on Twitter: @alexcrippen


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