Warren Buffett To Republicans: I’ll Match Every Dollar You Contribute To Pay Down The Debt


warren-buffet-investment-quote-2-e1374543531589 In the latest issue of Time magazine, Warren Buffett makes an unusual proposal: he will voluntarily contribute additional taxes to help pay down the national debt, but only if Republicans in the Senate do the same.

Buffett has pledged to match all donations on a one-to-one basis, with one exception: for Senate Majority leader Mitch McConnell, he’ll make it three-for-one.

Buffett’s move comes after several Republicans criticized an August op-ed in The New York Times in which he criticized tax policy towards the rich. As an example, Buffett highlighted the fact the he, with his $45 billion net worth, pays a lower tax rate than his secretary.

Senator John Thune responded by saying that if Buffett felt ‘guilty’, he should voluntarily give to the government. Thune introduced the “Buffett Rule Act”, allowing the rich to voluntarily contribute to pay down the national debt.

In speaking with The Times, Buffett called Thune’s plan, “a tax policy only a Republican could come up with.” But he has now put the issue back in the court of Republican Senators.

Republicans in the Senate, it should be noted, have a combined net worth of approximately $387 million, according to Media Matters.

Previous ArticleNext Article
The Moneymunch editorial staff is a team of experienced financial writers and analysts with over a decade of experience in the financial markets. They have previously contributed to popular financial blogs and newspapers, and are passionate about providing accurate and up-to-date information to help both investors and traders make informed decisions. Trust the Moneymunch editorial staff to provide reliable and effective financial advice that can help you achieve your financial goals.

Write a Comment

Comment Policy: We love comments and appreciate the time that readers spend to share ideas and give feedback. However, all comments are manually moderated and those deemed to be spam or solely promotional will be deleted. Your email address will not be published. Required fields are marked *