Warren Buffett, who is supporting Democrat Hillary Clinton for president, said he stands with fellow billionaire Donald Trump, a Republican, in calling for an end to a tax break helping private-equity and hedge-fund managers.
“In terms of tax policy, I haven’t heard him say anything yet that I disagree with,” Buffett said Tuesday in a televised interview with Bloomberg’s David Westin. “He’s going to spell out his economic program some time in the next few weeks. I wouldn’t be surprised if I agree with quite a bit of his economic program.”
Trump has distinguished himself from Republican rivals by criticizing the rule that lets investment managers who get so-called carried interest treat those profits as capital gains, which face lighter taxes than wage income. Buffett has long said the government needs to reduce wealth inequality in the U.S., a position taken by Clinton, who lamented that the nation’s top 25 hedge fund managers earn more than all U.S. kindergarten teachers combined.
Buffett reiterated support for Clinton, who has come under criticism for her personal e-mail use as secretary of state.
“It hasn’t been handled well, but I’ve handled some things badly in my life too,” Buffett said of the e-mail controversy. “I do not consider that determinative at all of the kind of person she would be as president. I believe that she has a vision for America that’s very similar to mine, in terms of everybody being included in the prosperity we enjoy.”