Buffett Challenges Republicans on Donations, Time Says

Thursday, 12 Jan 2012 09:10 AM

 

Share:
  Comment  |
   Contact Us  |
  Print  
|  A   A  
  Copy Shortlink

(Updates with Buffett comment in fifth paragraph.)

Jan. 11 (Bloomberg) -- Billionaire Warren Buffett will match voluntary contributions by congressional Republicans to the U.S. government, he told Time magazine.

Buffett, who has said the tax system favors the rich, made his offer after Republicans, including U.S. Representative Michelle Bachmann, suggested he donate his fortune to the government.

“If we go to a contribution system, I’ll match the total contribution made by all Republican members of Congress and I’ll even go 3-for-1 with McConnell,” Buffett said of Senate Minority Leader Mitch McConnell, the Kentucky Republican, in an interview with the magazine.

Buffett, chairman and chief executive officer of Omaha, Nebraska-based Berkshire Hathaway Inc., supports President Barack Obama, a Democrat. Buffett has called for tax increases on the wealthiest Americans and said he benefits from provisions that aren’t as helpful to the middle class. McConnell has said tax increases on job creators would be counterproductive.

“It’s kind of touching, this faith he has in the American public, with a $1.2 or $1.3 trillion deficit, that he thinks Americans are so wonderfully spirited that they would just solve it all by contributions,” Buffett said. That’s a tax policy “only a Republican could come up with.”

--Editors: Dan Kraut, Peter Eichenbaum

To contact the reporter on this story: Andrew Frye in New York at afrye@bloomberg.net

To contact the editor responsible for this story: Dan Kraut at dkraut2@bloomberg.net

© Copyright 2014 Bloomberg News. All rights reserved.

Share:
  Comment  |
   Contact Us  |
  Print  
  Copy Shortlink
Around the Web
Join the Newsmax Community
>> Register to share your comments with the community.
>> Login if you are already a member.
blog comments powered by Disqus
 
Email:
Retype Email:
Country
Zip Code:
 
Hot Topics
Follow Newsmax
Like us
on Facebook
Follow us
on Twitter
Add us
on Google Plus
Around the Web
You May Also Like

Mali's Islamists Withdraw Cease-Fire Pledge

Friday, 04 Jan 2013 13:06 PM

Tens of thousands of Fatah supporters rallied in the Hamas stronghold of Gaza on Friday for the first time since they we . . .

Fmr. CIA Director Hayden: Iran Nuclear Crisis Gets 'Scarier'

Tuesday, 17 Jul 2012 18:11 PM

 . . .

Join Fmr. CIA Director for Special Iran Briefing, Assess the Danger

Friday, 13 Jul 2012 12:27 PM

 . . .

Newsmax, Moneynews, and Independent. American. are registered trademarks of Newsmax Media, Inc. Newsmax TV, NewsmaxWorld, NewsmaxHealth, are trademarks of Newsmax Media, Inc.

 
NEWSMAX.COM
America's News Page
©  Newsmax Media, Inc.
All Rights Reserved