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Munger Pushes Back on Wealth Tax, Says It’s Oversimplified

  • Berkshire vice chairman says political fights aren’t helping
  • He spoke after Daily Journal annual meeting in Los Angeles
Charlie Munger
Charlie MungerPhotographer: Patrick T. Fallon/Bloomberg
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Charles Munger, the longtime business partner of Warren Buffett, is skeptical of recent Democratic proposals to tax the wealthiest Americans.

“A lot of civilizations work very well with low taxes on the rich,” Munger, 95, said in an interview Thursday after the annual shareholder meeting in Los Angeles of the Daily Journal Corp., where he serves as chairman. “So it’s a very complicated subject” and there’s a lack of evidence that one system is better than another.