About Our People Legal Stuff Careers
FILE - In this May 2, 2011 file photo, Warren Buffett, Chairman and CEO of Berkshire Hathaway gestures during an interview, in Omaha, Neb. Buffett said Monday, Nov. 14, 2011, his company bought $10.7 billion of IBM stock this year, about a 5.6 percent stake. (AP Photo/Nati Harnik, File)

Warren Buffett said the GOP's health care bill would be a 'huge tax cut' for the rich


Over the weekend, billionaire investor Warren Buffett criticized the GOP's health care bill during an annual shareholders meeting for his company Berkshire Hathaway. 

"It is a huge tax cut for guys like me," Buffett said of the Republican health care plan.

While speaking to shareholders in Omaha, Nebraska, Buffett argued that the cost of health care is a bigger issue for American businesses that corporate taxes. 

Warren Buffett
Find out more about Buffett

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

The billionaire investor added that his federal taxes would have decreased by 17 percent last year if the GOP bill were law at the time. 

"That is in the law that was passed a couple days ago," he added. "Anybody with $250,000 a year of adjusted gross income and a lot of investment income is going to have a huge tax cut."

Buffett, who is close with former President Barack Obama, previously went after President Donald Trump for not releasing his tax returns. 

In the past, Buffett has also pushed back against tax policies that favor the wealthy. He was famously quoted saying it's unfair that he pays a lower tax rate than his secretary and other employees. 

50,000 people were evacuated from a German city after 5 WWII bombs were uncovered

WATCH  | Kellan Howell explains why those with pre-existing conditions should pay close attention to the GOP's health care bill

Read Comments
Facebook Twitter Instagram Pinterest Linked In List Menu Enlarge Gallery Info Menu Close Angle Down Angle Up Angle Left Angle Right Grid Grid Play Align Left Search Youtube Mail Mail Angle Down Bookmark