Buffett Sees Republicans Needing to Dial Back Tax Plan Ambitions
- Berkshire chairman says border tax would be a ‘big sales tax’
- Buffett says comprehensive tax overhaul will be too difficult
This article is for subscribers only.
Warren Buffett cast doubt on a controversial centerpiece of House Speaker Paul Ryan’s tax overhaul plan, saying the measure would lead to higher prices for consumers and likely be scaled back because it’s too politically contentious.
The Berkshire Hathaway Inc. chairman told CNBC’s "Squawk Box" that the House Republican border-adjusted concept to tax imports but not exports “would be a big sales tax,” adding that it would hit “items that are not yachts or anything like that; they’re things that the ordinary person buys.”