During a Monday interview on CNBC’s “Squawk Box,” billionaire investor Warren Buffett called for the wealthy to be taxed more.
Buffett pointed out how good the economy has been, but said it still resulted in a net $1 trillion loss, which he said raising the taxes on the wealthy would address.
“We’re out of whack on it, so you can cut spending and raise taxes,” Buffett stated. “But I would say that the wealthy are definitely undertaxed relative to the general population.”
He added, “If you offered most of the rich people, if they were sane, anyway, and you said if you stay we’re going to take half your net worth and if you leave, you can take it all with you and you’re 88 years old like me — am I going to leave the United States? … I wouldn’t move.”
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