Obama Phones Buffett Following Cancer Diagnosis

File photo. Official White House photo by Pete Souza(WASHINGTON) -- President Obama phoned billionaire Warren Buffett on Wednesday to wish him well, White House Press Secretary Jay Carney told reporters on Air Force One.

Buffett was diagnosed with stage 1 prostate cancer and will be treated in the coming months. Buffett told shareholders in his company Tuesday that the condition was not life-threatening.

Obama’s tax plan, the Buffett Rule, failed in a Senate vote this week. The Buffett Rule would have made certain that anyone making over $1 million would be subject to a minimum 30 percent tax. It was inspired by the notion that Buffett’s secretary paid a higher percentage in tax than the billionaire did.

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