Financial News Story of the Day – Warren Buffett to Match Every Dollar Republican Senators Contribute to Debt Problem
Warren Buffett has just slapped all Republicans in the Senate and single-handedly challenged them to a duel by offering to contribute more to taxes, matching every dollar the senators themselves contribute to help America’s debt issues. Even more embarrassing for Senate Majority leader Mitch McConnell, Buffett offered to offer a 3-1 deal for anything McConnell donated. Ouch – you don’t mess with the Oracle. How did the old, rich guy battle all start? Read on for more details…(source: BusinessInsider.com).
Excerpt: “Buffett’s move comes after several Republicans criticized an August op-ed in The New York Times in which he criticized tax policy towards the rich. As an example, Buffett highlighted the fact the he, with his $45 billion net worth, pays a lower tax rate than his secretary.
Senator John Thune responded by saying that if Buffett felt ‘guilty’, he should voluntarily give to the government. Thune introduced the “Buffett Rule Act”, allowing the rich to voluntarily contribute to pay down the national debt.
In speaking with The Times, Buffett called Thune’s plan, “a tax policy only a Republican could come up with.” But he has now put the issue back back in the court of Republican Senators.
Republicans in the Senate, it should be noted, have a combined net worth of approximately $387 million, according to Media Matters.”
Daily Finance Summary – Buffett Challenges, Foreclosure Rates Decline
- Warren Buffett has issued a challenge to all Republican Senators to match everything they contribute towards America’s debt
- Foreclosure rates have fallen to its lowest levels since 2007
- Stocks are relatively flat due to a calm Europe abroad
- Google’s algorithm change ignores Facebook and Twitter