You may recall that last week, on Piers Morgan Tonight, New Jersey Governor Chris Christie said that Warren Buffett should just write a check and shut up about tax reform.
“Really, and just contribute,” said Christie. “The fact of the matter is that I’m tired of hearing about it. If he wants to give the government more money, he’s got the ability to write a check — go ahead and write it.”
This morning, Buffett was on CNBC’s Squawk Box, and Becky Quick asked him about Christie’s comment. From his response, it basically sounds like Buffett thought Christie’s idea was cute, but beside the point.
“It’s sort of a touching response to a $1.2 trillion dollar deficit,” said Buffett. “The first person to come up with that was Senator McConnell (R-KY). It’s sort of astounding to me that somebody that has the responsibility of being the minority leader in the Senate would think that you attack a $1.2 trillion or so deficit by asking for voluntary contributions. Since he did, I offered to triple his. That’s a side show. The real problem we have is we’re taking in too little money and we’re spending too much. That’s not going to be solved by voluntary contributions. What we need is a policy, a tax policy.” He goes on to do the maths, busting out figures about income collected from the richest in America. “We’re a rich family that’s over promised,” he said. Check out a video of the discussion below.
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