BUFFETT ISN’T BUYING GOP LINE ON TAX CUTS…. I wouldn’t necessarily characterize Berkshire Hathaway CEO Warren Buffett as someone with enormous political influence, but his success in business has at least given him some credibility on the economy.
And right now, his message on taxes couldn’t be much clearer.
In an exclusive interview on “This Week,” Warren Buffett, Chairman and CEO of Berkshire Hathaway, told Christiane Amanpour that the rich should be paying more taxes and that the Bush-era tax cuts for the wealthy should be left to expire at the end of December.
“If anything, taxes for the lower and middle class and maybe even the upper middle class should even probably be cut further,” Buffett said. “But I think that people at the high end — people like myself — should be paying a lot more in taxes. We have it better than we’ve ever had it.”
The full Buffett interview will air on a special Thanksgiving edition of “This Week” focused on The Giving Pledge, a major philanthropic effort spearheaded by Buffet, and Bill and Melinda Gates.
What about the line that Clinton-era rates for the wealthy would undermine the economy?
“The rich are always going to say that, you know, ‘Just give us more money and we’ll go out and spend more and then it will all trickle down to the rest of you.’ But that has not worked the last 10 years, and I hope the American public is catching on,” Buffett explained.
I’ll look forward to Glenn Beck’s expose, characterizing Buffett as a radical Marxist, hell bent on destroying the economy.