Warren Buffett Takes GOP Dare,Writes Check to the U.S. Treasury to Help Pay Down Debt

[LAGC]

Warren Buffett will be writing a check made out to the United States Treasury for just over $49,000 to help pay down the national debt.

He's matching voluntary contributions made this year and last year by Rep. Scott Rigell, a Republican representing Virginia.

In a letter to Rep. Rigell released today by Berkshire Hathaway, Buffett writes he's "particularly impressed that you took this action before my challenge."

In his challenge, issued in a Time Magazine interview last week, Buffett promises to match voluntary contributions aimed at reducing the deficit by "all Republican members of Congress, and I'll even go three for one with (Senate Minority Leader Mitch) McConnell."

http://finance.yahoo.com/news/impres...204656439.html

Let's see if the Republicans put their money where their mouth is, and sacrifice some of their exorbitant salaries to help pay down the debt.

[mriddick]

http://finance.yahoo.com/news/impres...204656439.html

Let's see if the Republicans put their money where their mouth is, and sacrifice some of their exorbitant salaries to help pay down the debt.

Hello....

He's matching voluntary contributions made this year and last year by Rep. Scott Rigell, a Republican representing Virginia.

I bet comparing income to gift as a % Buffet gave next to nothing when put up to the sacrifice that congressman made.

[CigarGuy]

Saw Rigell on some Fox show last night. He feels half his salary can go to reducing the debt and, as stated, this is the second year he's done it. And Buffet matched both years.

At least poor Warren won't have to put out any money for Dems doing it!

[LAGC]

At least poor Warren won't have to put out any money for Dems doing it!

I bet he would if they asked. I think the key point here is that it shouldn't be a voluntary effort. The rich are way untaxed as it is, they really ought to treat investment income the same as income from people who actually work for a living.

[CigarGuy]

I bet he would if they asked. I think the key point here is that it shouldn't be a voluntary effort. The rich are way untaxed as it is, they really ought to treat investment income the same as income from people who actually work for a living.

For investors to take the necessary risks of loss, they should, and are, rewarded with a lower tax rate.
Further, you do realise that these "investment dollars" are after-tax dollars that the investor has ALREADY
paid tax on, in a lot of cases?

[Mark Ducati]

$49,000 bucks? That's it?

With WB's billions of wealth, wouldn't that be like you or I giving 0.049 cents? Let me see him give $400 million, then I'll be impressed.

[CigarGuy]

Does anyone else wonder if these specific funds given for "debt reduction" will actually go into the same "lockbox"(thank you Al Gore!) as our Social Security contributions are going into?

[Goodman]

I'd be much more impressed if Buffet made the first move and challenged others to follow suit. Why is it others are expected to rise monetarily to his ideas- with him only taking that extra step if others do it first? It throws his sincerity into question IMHO

[1 Patriot-of-many]

Wonder if he's paid the massive back taxes he/his company owes?

[5.56NATO]

Who owes this so called debt, who is it owed to, and why is it owed?

[mriddick]

The debt is from the value of government bonds sold to make up the shortfall in what we spend compared to what we take in?