Warren Buffett to Match Republicans’ Tax Donations
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Scott Eells/Bloomberg via Getty Images(WASHINGTON) — Billionaire Warren Buffett said he will match voluntary tax contributions from Republican members of Congress, and triple that of the Senate Republican leader, Time magazine reported.
In regards to paying less in taxes than those worse off, Sen. Mitch McConnell (R-Ky.) in September said if Buffett, “is feeling guilty about it, I think he should send in a check.”
The CEO of investment firm Berkshire Hathaway, who is worth $39 billion according to Forbes, has long advocated for the rich to contribute a larger share of the country’s tax revenue. He wrote an op-ed in the New York Times in August 2011 regarding tax policy such as advocating for higher taxes on capital gains.
That month, President Obama proposed a plan to reduce the deficit with spending cuts and tax increases on millionaires, dubbed the Buffett Rule.
Sen. John Thune (R-S.D.) then introduced the, “Buffett Rule Act,” an option on tax forms allowing the wealthy to donate more in taxes to reduce the deficit.
Buffett told Time for this week’s cover story that he will match Republicans’ voluntary contributions.
“And I’ll even go three for one for McConnell,” Buffett said.
McConnell is worth at least $10 million, Time reports, a drop in the bucket compared to Buffett, who some critics have accused of playing fast and loose with his own taxes over the years.
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