Sorry, Grover Norquist – Warren Buffett has other ideas.
Sorry, Grover Norquist. Warren Buffett has other ideas. As the fiscal cliff debate heating up in Washington, one of most influential figures in U.S.A, Warren Buffett slams Anti-tax evangelist Grover Norquist today, in a NYT op-ed, calling for a minimum tax on the rich, “SUPPOSE that an investor you admire and trust comes to you with an investment idea. “This is a good one,” he says enthusiastically. “I’m in it, and I think you should be, too.”
Would your reply possibly be this? “Well, it all depends on what my tax rate will be on the gain you’re saying we’re going to make. If the taxes are too high, I would rather leave the money in my savings account, earning a quarter of 1 percent.” Only in Grover Norquist’s imagination does such a response exist.”
This weekend, there was growing feeling that the anti-tax crusader and his pledge were quickly becoming irrelevant as several party bigwigs said they would abandon the vow and analysts openly questioned his continued relevance. “Grover Norquist is an impediment to good governing,” Republican political strategist Matthew Dowd said.
The billionaire investor, Warren Buffett’s calls on Congress for the cutoff point in U.S. President Barack Obama’s proposal to end the Bush-era tax cuts to increase to $500,000 from $250,000.
“I support President Obama’s proposal to eliminate the Bush tax cuts for high-income taxpayers,” the business magnate, investor and philanthropist wrote in an op-ed piece published in The New York Times Monday. “However, I prefer a cutoff point somewhat above $250,000 — maybe $500,000 or so.”