The GOP’s plan to repeal and replace Obamacare has been receiving criticism from both sides of the table. As it’s being reported that the Republicans’ proposed replacement would strip millions of Americans of life-saving healthcare and raise premiums, it should hardly be called a health care bill at all – and billionaire Warren Buffett has just come up with a name that is far more suitable.
The renowned investor spoke out against Trumpcare on PBS Newshour, criticizing the legislation and appropriately renaming it according to its true values – “Relief for the Rich Act.” Using his own finances and tax return to make a point, Buffett said:
“Well, I brought my tax return along for the last year. I filed this on April 15. And if the Republican — well, if the bill that passed the House with 217 votes had been in effect this year, I would have saved — I can give you the exact figure. I would have saved $679,999, or over 17 percent of my tax bill.
There’s nothing ambiguous about that. I will be given a 17 percent tax cut. And the people it’s directed at are couples with $250,000 or more of income. You could entitle this, you know, Relief for the Rich Act or something, because it — I have got friends where it would have saved them as much as — it gets into the $10-million-and-up figure.
But I might point out — it might be an interesting question. I think members of the Senate and the House get $174,000 a year. But most of them have — if you look at the disclosures, they have substantial other income. If they get to higher than $250,000, as a married couple, or $200,000 as a single person, they have given themselves a big, big tax cut, if they — if they voted for this.”
Coming from a billionaire like Buffett, this is major. He couldn’t have summarized this bill any better – it is just one big tax cut for the rich, and for Republicans to support this just highlights their greed.
You can watch Buffett tear the GOP apart below:
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