New York: Strident New Jersey Governor Chris Christie was so annoyed with billionaire investor Warren Buffett for advocated taxing the wealthy more that he literally told Buffett to “shut up.”
During a discussion about taxes, CNN’s Piers Morgan observed that Buffett keeps “screaming to be taxed more.” At this point Christie, who said earlier in the interview that he’d prefer if New Jersey slash all income taxes by 10 percent, made it known that he’s just about had it with Buffett.
“He should just write a check and shut up. Really,” said Christie. “I’m tired of hearing about it. If he wants to give the government more money, he’s got the ability to write a check. Go ahead and write it.” (Watch the video clip here.)
Warren Buffett's proposal to tax the rich isn't popular - with the rich. Getty Images
Some patriotic Americans do indeed write checks out to the government. Last year, at least 815 US households sent generous donations to the Treasury’s general fund in 2011, according to Yahoo! News.
Buffett has often expressed a desire to be taxed at a higher rate. The Oracle of Omaha, as he is known, has advocated taxing the rich at a rate at least as high as that of middle-class Americans in an August op-ed in The New York Times.
Buffett lamented that in 2010, he paid only 17.4 percent of his taxable income to the government, even though people like his secretary and other middle-class earners in his office paid between 33 percent and 41 percent. Buffett paid a lower rate because a large part of his income came from long-term investments, which are taxed at a lower rate than wages.
Since then, the notion of raising taxes on the wealthy has gained some momentum. In his latest budget plan, President Barack Obama offered “principles” for future tax reform that included replacing the alternative-minimum tax that high-income Americans currently pay with a long-term tax plan named after Buffett. The so-called “Buffett Rule” would require those who earn more than $1 million to pay a tax rate of at least 30 percent and prevent them from claiming deductions to push their tax rates down.
Buffett also has a challenge for congressional Republicans: For every dollar one donates to Uncle Sam to help pay down the debt, he will match it.
“So far, only one Republican has taken Buffett up on his offer: Representative Scott Rigell of Virginia, who gave 15 percent of his salary to the Treasury in 2011, and plans to do so again in 2012,” CNN reported. “In a letter to Rigell, Buffett said he would be happy to match both donations.”
Republicans are vehemently opposed to tax the wealthy more, arguing it burdens the people who create jobs.
