Warren Buffett Quotes Taxes

Consider Berkshire-Hathaway chairman and CEO Warren Buffett. Currently the third-richest person in the world, Mr. Buffett has made some rather eye-opening, condemnatory statements on American taxation laws. Some of the more salient Warren Buffett quotes on taxes are noted below.

In a New York Times opinion piece written in 2011 and titled “Stop Coddling the Super Rich”, Mr. Buffett criticizes Washington legislators for what he considers unfair taxation policies. Stating that he and his peers were spared the “shared sacrifice” exhorted by American leaders, he adds that “While the poor and middle-class fight for us in Afghanistan, and while most Americans struggle to make ends meet, we mega-rich continue to get our extraordinary tax breaks.”

A more recent interview with CNBC saw Mr. Buffett speak on a Republican tax reform plan released in 2017. In his view, the new tax bill, which would eliminate the estate tax (a tax on property passed on after death) could only benefit the rich. Mr. Buffett noted that with the new plan, Mr. Buffett “could leave $75 billion to [descendants]”, and that even if the money were split among a number of them, they would be left with “a couple billion dollars”, sans tax. Stating that “I don’t think I need a tax cut”, Mr. Buffett went on to pose the question, “Is that a great way to allocate resources in the United States?”

With such scathing quotes, Mr. Buffett has made his point of view on the American tax gap quite clear.

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