Carney: Obama and Buffet Agree on Tax Plan

There are no differences between the Obama administration and billionaire investor Warren Buffett on the principles of a White House tax proposal that bears his name, Jay Carney, President Barack Obama’s spokesman, said.

Buffett’s comments in television interviews this morning have been “misconstrued at best” by the president’s opponents, Carney said at a briefing.

Buffett said in an interview with Bloomberg Television today his proposal was only intended to raise taxes on “about 50,000 people” who are extremely wealthy and pay “very low” taxes because investment income is taxed at a lower rate than wages and salaries.

He said he did not intend to promote a general increase in taxes on all higher-income taxpayers.

Carney said the so-called Buffett Rule proposed by the president is “a principle” for tax reform that is consistent with Buffett’s remarks.