GO
Loading...

Jon Stewart vs Warren Buffett's Conservative Critics

Friday, 19 Aug 2011 | 1:31 PM ET
Jon Stewart on Comedy Central's The Daily Show
TheDailyShow.com
Jon Stewart on Comedy Central's The Daily Show

Warren Buffett has been accused by conservatives of waging "class warfare" and using "intellectual tax dodges" with his "Stop Coddling the Super-Rich" call for higher tax rates on incomes over a million dollars a year.

The Wall Street Journal's editorial board attacks him for trying to pull a "middle-class bait-and-switch" by advocating higher taxes "only on the rich" while:

"... somehow he ignores that (President Obama's) tax increase starts at $200,000 for individuals and $250,000 for couples. Mr. Obama ought to call them 'thousandaires,' but that probably doesn't poll as well."

The Journal contends Obama "needs to levy his tax increase at such a lower income level because that's where the money is." That is, there aren't enough taxpayers with million dollar-plus incomes to generate significant revenue.

On Fox Business, host Eric Bolling suggested Buffett is "completely a socialist" and argued it's not "fair" that "forty-seven percent of Americans are paying zero" in taxes.

Last night on Comedy Central, the Daily Show's Jon Stewart came to Buffett's defense, countering the arguments that a tax on the rich would "only" generate $700 billion over 10 years, and that America's "poor" aren't paying their "fair share."

It's in two parts:

Current Berkshire stock prices:

Class B:

Class A:

For more Buffett Watch updates follow alexcrippen on Twitter.

Email comments to buffettwatch@cnbc.com

  Price   Change %Change
BRK.A
---

Featured