Buffett on GOP Health Bill: ‘You Could Entitle this, the Relief for the Rich Act’

EXCERPT:

WOODRUFF: “One of the things the Republicans are looking at, as you know very well, is doing away with the so-called ObamaCare surcharge on people earning a higher income.”
BUFFETT: “Yes.”
WOODRUFF: “So, Republicans are looking at taking that away, or doing away with that, which would mean a tax cut, you have said —“
BUFFETT: “Yes.”
WOODRUFF: “— for people like you.”
BUFFETT: “Yes. 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.”