Buf­fett: GOP health bill is tax cut for rich

The Washington Post Sunday - - POLITICS & THE NATION -

Berk­shire Hath­away Chair­man War­ren Buf­fett on Satur­day fumed that health-care costs are eat­ing away at the U.S. econ­omy like a “tape­worm” and said the Repub­li­can ap­proach to over­haul the Af­ford­able Care Act is a tax cut for the rich.

The House on Thurs­day nar­rowly ap­proved a bill to re­peal and re­place the ACA, also called Oba­macare, a vic­tory for President Trump.

Speak­ing at Berk­shire’s an­nual share­hold­ers’ meet­ing in Omaha, Buf­fett said his fed­eral in­come taxes last year would have gone down 17 per­cent had the new law been in ef­fect.

“So it is a huge tax cut for guys like me,” he said. “And when there’s a tax cut, ei­ther the deficit goes up or they get the taxes from some­body else.”

Buf­fett said ris­ing health-care costs are crip­pling U.S. com­pet­i­tive­ness.

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