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They Said It! Warren Buffett Disagrees With Obama’s Buffet Rule, Dodges On Obama Stimulus 2.0

- September 30, 2011

Warren Buffett Disagrees With Obama’s Buffett Rule And Dodges Questions On Obama Stimulus 2.0

Click To Watch Buffett Say Obama’s Buffett Rule At $1 Million Is Not His Rule, Not Even At $50 Million

Andrew Ross Sorkin: “Let’s talk about the Buffett Rule for a moment. Talk to me about how it came about in terms of the White House getting in touch with you and you putting your name to this?”

Warren Buffett:  “Well, Gene Sperling called and said, ’Can we use your name?’ And I said, yes.”

Sorkin: “Are you happy you said yes?”

Buffett: “Sure, I mean I wrote about it.”

Sorkin: “Are you happy with the way it’s been described? Is the program that the White House has presented - a million dollars and over - your program?”

Buffett: “Well, the precise program, I don't know what their program will be. My program would be on the very high incomes that are taxed very low -- not just high incomes. Some guy making 50 million playing baseball, his taxes won’t change. If you make 50 million dollars a year appearing on television, his income won't change, but if they make a lot of money and they pay a very low tax rate, like me, it would be changed by a minimum tax that would only bring them up to what the other people pay .”

Sorkin: “Does that mean you disagree with the president's new jobs proposal which would be paid for by raising taxes on households with incomes of over $250,000?”

Buffett: “That's another program that I won't be discussing, but my program is to have a tax on ultra-rich people who are paying very low tax rates. Not just all the rich people. It probably would apply to 50,000 people in a population of 310 million.”

Sorkin: “That means you disagree with the president on the 250,000?”

Buffett: “No, no, you may disagree –“

Sorkin: “I’m asking, you agree that 250,000 is the right number?”

Buffett: “I will look at the overall plan that gets submitted to Congress which they are voting on and decide net do I like it or do I not like it? There’s no question there will be parts I’ll disagree with.” 
(CNBC’s “Squawk On The Street,” 9/30/11)
NOTE: “‘The Buffett Rule’ Would Require Any American Making More Than A Million Dollars A Year To Pay At Least The Middle Class Tax Rate.” (David Kerley, “‘Class Warfare’: Republicans Blast Obama’s ‘Buffett Rule’,” ABC News, 9/18/11)

Click To Watch Buffett Dodge On Obama’s American Jobs Act

Sorkin: “And are you a supporter of his jobs program right now?”

Buffett:  “I am a supporter of the action he's trying to get the congress to join him in taking to really do something rather than sit there and go in different directions.”

Sorkin:  “But do you agree with all the details or no?”

Buffett:  “I haven't looked at all details.”
(CNBC’s “Squawk On The Street,” 9/30/11)


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