Billionaire Warren Buffett thinks that the Bush-era tax cuts for the superrich have had their day. Buffett, CEO of Berkshire Hathaway and one of the richest people in America,
told Politico’s Mike Allen after a small business program commencement ceremony at LaGuardia Community College, in Long Island City, Queens that it takes time for economic “wounds” to heal. He said he still supports President Obama.
“I’d vote for him all over again. … I think he’s got the same vision about America I do. … I think he has the same social goals, very much, that I do,” Politico reported.But as lawmakers keep sparring over tax cuts on Capitol Hill, Buffett said that he thinks it’s “almost a cinch that they will be extended for the people – I don’t know if it’ll be exactly [making less than] $250,000, or whatever the number may be, in the end.”
Buffett added he doesn’t think that letting the tax cuts for more than $250,000 in income expire amounts to “a tax increase for people up and down the line.”
“I think there should be tax increases for people in the high income levels,” he said.