By Lucy Madison
“I don’t want to see democracy go in that direction,” the Berkshire Hathaway chairman and chief executive officer said over the weekend at his company’s annual shareholders meeting, according to Bloomberg News. “You have to take a stand some place.”
Buffett has served as something of a spokesperson for the Obama administration’s so-called “Buffett Rule,” a proposed tax overhaul that would have mandated income above $2 million be taxed at least at a 30 percent rate, with a graduated boost in the minimum marginal rates for income between $1 million and $2 million.
It would appear, however, that Buffett, who according to Forbes has a net worth of $44 billion, won’t be lending the same support to the pro-Obama super PAC Priorities USA Action.
While he might not be donating to the super PACs, Buffett rejected a call for him to muzzle his political views.