Buffett calls Obamacare replacement 'a huge tax cut for guys like me'

B

Bill

Malarkeyville
:whome:



By Trevor Hunnicutt

May 6 Berkshire Hathaway Inc Chairman Warren Buffett on Saturday fumed that healthcare costs are eating away at the U.S. economy like "tapeworm" and said the Republican approach to overhaul Obamacare is a tax cut for the rich.

The U.S. House of Representatives on Thursday narrowly approved a bill to repeal and replace Obamacare, a victory for Republican President Donald Trump who has called the 2010 law a "disaster."

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."​

The Republican bill would repeal most of the taxes that paid for the law formally known as the Affordable Care Act. The party's leadership has promised that the new American Health Care Act, which faces a likely overhaul and uncertain passage in the Senate, would address growing healthcare costs.

Buffett said rising healthcare costs are crippling the competitiveness of U.S. companies abroad.

Unlike in many other countries where much of healthcare spending is publicly financed, employers provide health insurance coverage for nearly half of Americans and often face sky-rocketing rates.

Buffett said healthcare costs have risen much faster in the United States than in the rest of the world and "will go up a lot more."

"Medical costs are the tapeworm of American economic competitiveness," he said. "That is a problem this society is having trouble with and is going to have more trouble with."

Buffett is a Democrat who vocally supported Hillary Clinton's unsuccessful bid for the presidency against Trump. The fourth richest man in the world with a net worth totaling $74.3 billion, according to Forbes magazine, Buffett has vowed to donate nearly his entire fortune to charity.

Berkshire Vice Chairman Charlie Munger added that he thinks neither political party "can think rationally" about healthcare because they "hate each other so much." (Reporting by Trevor Hunnicutt; Editing by Jennifer Ablan and Mary Milliken)
 
"Guys like me"

How many people are worth north of $50 billion? Not too many guys like him
 
many of the right wing voters who hated "Obama care" now know their healthcare improvements CAME from "Obama care".



just like that lady who hoisted the sign "keep your government hands off my medicare" now knows
 
evince said:
many of the right wing voters who hated "Obama care" now know their healthcare improvements CAME from "Obama care".



just like that lady who hoisted the sign "keep your government hands off my medicare" now knows
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I had excellent coverage PRIOR to Obamacare. Unlike you, I didn't need some affirmative action half breed to do a damn thing for me.
 
Bill said:
:whome:



By Trevor Hunnicutt

May 6 Berkshire Hathaway Inc Chairman Warren Buffett on Saturday fumed that healthcare costs are eating away at the U.S. economy like "tapeworm" and said the Republican approach to overhaul Obamacare is a tax cut for the rich.

The U.S. House of Representatives on Thursday narrowly approved a bill to repeal and replace Obamacare, a victory for Republican President Donald Trump who has called the 2010 law a "disaster."

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."​

The Republican bill would repeal most of the taxes that paid for the law formally known as the Affordable Care Act. The party's leadership has promised that the new American Health Care Act, which faces a likely overhaul and uncertain passage in the Senate, would address growing healthcare costs.

Buffett said rising healthcare costs are crippling the competitiveness of U.S. companies abroad.

Unlike in many other countries where much of healthcare spending is publicly financed, employers provide health insurance coverage for nearly half of Americans and often face sky-rocketing rates.

Buffett said healthcare costs have risen much faster in the United States than in the rest of the world and "will go up a lot more."

"Medical costs are the tapeworm of American economic competitiveness," he said. "That is a problem this society is having trouble with and is going to have more trouble with."

Buffett is a Democrat who vocally supported Hillary Clinton's unsuccessful bid for the presidency against Trump. The fourth richest man in the world with a net worth totaling $74.3 billion, according to Forbes magazine, Buffett has vowed to donate nearly his entire fortune to charity.

Berkshire Vice Chairman Charlie Munger added that he thinks neither political party "can think rationally" about healthcare because they "hate each other so much." (Reporting by Trevor Hunnicutt; Editing by Jennifer Ablan and Mary Milliken)
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Which will allow businesses to expand and for jobs to be created........................

Buffet is brain dead

http://www.acsh.org/wp-content/uploads/2016/05/Buffett-Coke.jpg
 
buffett said rising healthcare costs are crippling the competitiveness of U.S. companies abroad.

Unlike in many other countries where much of healthcare spending is publicly financed, employers provide health insurance coverage for nearly half of Americans and often face sky-rocketing rates.

Buffett said healthcare costs have risen much faster in the United States than in the rest of the world and "will go up a lot more."

"Medical costs are the tapeworm of American economic competitiveness," he said. "That is a problem this society is having trouble with and is going to have more trouble with."
Click to expand...
OBcare was becoming too expensive,and too much subsidies.
I'll wait and see the final results,but I have no real hop the Repubs will be any better.

Only SP has a chance to get it right
 
George soros should be forced to surrender 90% of all he has. after he is executed. by the powers that be ordained for evil. buffett too.
 
In 2009 liberals were telling us Obamacare was going to lower our premiums and the exact opposite happened.

Now they are saying Trump care is going to kill people. Doesn't that mean the exact opposite will happen?
 
cawacko said:
"Guys like me"

How many people are worth north of $50 billion? Not too many guys like him
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It's guys like him...and I don't mean a Democrat or Republican but plutocrats, who are driving health care reform

Health care has become one of business biggest cost. To put things in perspective the savings to American business from reducing health care by 5% of GDP would be far greater than cutting the corporate tax rate to 15%.

I can see if the current Republican plan or something close to it is enacted that it would drive us into a single payer system for basic care and it will be corporate America that leads the way.
 
anatta said:
OBcare was becoming too expensive,and too much subsidies.
I'll wait and see the final results,but I have no real hop the Repubs will be any better.

Only SP has a chance to get it right
Click to expand...
it will fail for the same weakness that Obamacare has. It doesn't adequately address either the free rider problem or cost.
 
Obamacare is a glaring example of the fickle nature of American voters.

Obamacare was the driving force that cost the Democratic Party an incredible number seats in the House and Senate.

Now, the very same program may be the driving force that puts democrats back in power in both Houses.

BECAUSE of Obamacare, the Republican Party will never be the same.
 
blackascoal said:
Obamacare is a glaring example of the fickle nature of American voters.

Obamacare was the driving force that cost the Democratic Party an incredible number seats in the House and Senate.

Now, the very same program may be the driving force that puts democrats back in power in both Houses.

BECAUSE of Obamacare, the Republican Party will never be the same.
Click to expand...

Party over people...
 
at the end of the day any social scheme like obamacare relies on wealth distribution. I have news for buffet. During obamacare insurance companies made double to triple the profit. While by all accounts the rich got richer in the country. If there is any wealth distributed it did not come from them.

three guesses where it came from? : )
 
Mott the Hoople said:
It's guys like him...and I don't mean a Democrat or Republican but plutocrats, who are driving health care reform

Health care has become one of business biggest cost. To put things in perspective the savings to American business from reducing health care by 5% of GDP would be far greater than cutting the corporate tax rate to 15%.

I can see if the current Republican plan or something close to it is enacted that it would drive us into a single payer system for basic care and it will be corporate America that leads the way.
Click to expand...

If you want reduce healthcare costs stop seeking care
 
blackascoal said:
Obamacare is a glaring example of the fickle nature of American voters.

Obamacare was the driving force that cost the Democratic Party an incredible number seats in the House and Senate.

Now, the very same program may be the driving force that puts democrats back in power in both Houses.

BECAUSE of Obamacare, the Republican Party will never be the same.
Click to expand...

It did cost democrats seats, because the democrats lied to voters in selling Obamacare [see my sig].

Now democrats are complaining about Trump care. Why anyone would believe a word they say is beyond me.
 
Darth Omar said:
It did cost democrats seats, because the democrats lied to voters in selling Obamacare [see my sig].

Now democrats are complaining about Trump care. Why anyone would believe a word they say is beyond me.
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Do you believe Trump when he says that every single American will be covered, with better healthcare, for lower cost?
 
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