Thursday, June 22, 2017

GOP Health Care Plan - A Great Tax Break For Warren Buffett!

Yeah, I'm sure that's what all those millions of Trump voters wanted -- a gigantic tax break for the wealthiest Americans.

Click here for an article by Brandon Carter at The Hill entitled "Warren Buffett: ObamaCare repeal bill 'a huge tax cut for guys like me.'"

Buffett was speaking at Berkshire Hathaway’s annual shareholders meeting in Omaha, Nebraska, on June 6, and he was talking about the House plan, not the Senate plan that was just unveiled, but the two versions are essentially the same when it comes to tax cuts.
Buffett argued that healthcare costs – rather than high taxes – were the biggest problem facing American businesses.

“Medical costs are the tapeworm of American economic competitiveness,” he said, according to The New York Times.

Buffett said his federal income taxes would have gone down 17 percent last year if the GOP bill was in effect.

"So it is a huge tax cut for guys like me," he said, according to Reuters. "And when there's a tax cut, either the deficit goes up or they get the taxes from somebody else."


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