Ante Up: VA Congressman Takes Buffett Up on His Contribution Pledge
- Posted on January 19, 2012 at 12:45am by
Becket Adams
- Print »
- Email »
Remember when Time reported this about Warren Buffett:
Last fall, Senator Mitch McConnell said that if Buffett were feeling “guilty” about paying too little in taxes, he should “send in a check.” The jab was in response to Buffett’s August 2011 New York Times op-ed, which made hay of the fact that our tax system is so unbalanced, Buffett (worth about $45 billion) pays a lower tax rate than his secretary
… he’s willing to take them up on it…
Buffett has pledged to match 1 for 1 all such voluntary contributions made by Republican members of Congress. “And I’ll even go 3 for 1 for McConnell,” he says. That could be quite a bill if McConnell takes the challenge; after all, the Senator is worth at least $10 million. As Buffett put it to me, “I’m not worried.”
Apparently, Rep. Scott Rigell (R-VA) was curious to see if the chairman and CEO of Berkshire Hathoway was serious about his pledge.
Business Insider reports:
Warren Buffett has written his first check to the U.S. Treasury since announcing his pledge to match Republican donations to pay down the national debt a week ago.
Carol Loomis, Fortune’s senior editor-at-large and long-time friend of Buffett’s, reports that the Omaha investor received a letter from Congressman Scott Rigell of Virginia.
In it, Rigell details the $49,000 he had donated to Treasury in total in 2011 and 2012 and asks Buffett to match both (full letter is below).
Buffett agreed.
Below you will find both the congressman’s letter and Buffett’s response:
Congressman Rigell’s Letter to Buffett
Buffett’s response to Rep. Rigell
Popular Stories
MSNBC Host Snaps in Heated Segment: ‘What in the World Is Riskier Than Being a Poor Person in America?’ 683 Comments
Does Misstated Marathon Claim Prove Paul Ryan Is Dishonest? (POLL) 647 Comments
‘Jumah at the DNC’ Speaker: ‘Muslims Visited America Prior to Columbus’ & ‘It Was a Muslim’ Who Guided Him to the ‘New World’ 523 Comments
Obama: RNC Like Watching ‘Black-and-White TV’ Because Romney ‘Did Not Offer a Single New Idea’ 361 Comments
Roseanne Barr: Most Billionaires ‘Violent Pedophiles’ & ‘Heartless’ Cocaine Addicts 314 Comments
Faith
This Is the Creationists‘ Response to Scientist Bill Nye’s Viral Pro-Evolution Video Claiming They Harm Children 170 Comments- Pakistani Muslim Cleric Accused of Framing Disabled Christian Girl in Koran-Burning Case Read More
- ‘Made Up Religion’: TV Historian Enrages Muslims, Receives Threats After Producing UK Documentary Questioning Islam’s Beginnings 208 Comments
Meet the Controversial German Imam Accused of Brutally Beating His Wife & Pushing Sharia Law Read More
‘Self-Proclaimed Messiah’ & Unification Church Leader the Rev. Sun Myung Moon Has Died — Here’s His Life Story Read More
Business
- Germany’s Upcoming Court Ruling Will be Huge for the EU Read More
Ford Looks to Beat Toyota for Best-Selling Car in 2012 With This Model 146 Comments
Bernanke & QE3: Here’s What You Need to Know Read More- ‘Extortion’: Why Did the Labor Department ‘Drop the Hammer’ on Oregon Farmers? 300 Comments
Scathing New Ad Capitalizes on Rep. Ryan‘s ’Fading Obama Posters’ Remark 124 Comments
Technology
- This Is the Creationists‘ Response to Scientist Bill Nye’s Viral Pro-Evolution Video Claiming They Harm Children 170 Comments
‘TaserDrone’: Hackers Weaponize Quadcopter With Actual ‘Shocking’ Technology Read More
Ever Heard of the Wild ‘Burning Man’ Festival in the Middle of the Nev. Desert? Here’s Your Primer Read More
Stanford Develops Technology ‘Better Than Steroids’ for Athlete Recovery Read More
Have You Pretended to Know What ‘the Cloud’ Is? You’re Not Alone Read More
Submitting your tip... please wait!
Comments (55)
Detroit paperboy
Posted on January 19, 2012 at 8:31amIf we confiscated 100% of Warren Buffets fortune, it would last this Criminal Federal Government five days… Yes 5 days… Thats how completely out of control they are, and this is EXACTLY WHAT OUR FOUNDING FATHERS WARNED US ABOUT !!!!!!!!!!
Report Post »EqualJustice
Posted on January 19, 2012 at 1:23pmYou are onto something the LEFT does NOT understand about TAKING wealth from job creators. YOU WILL LOVE THIS. Send it to all you friends who say TAX the RICH to solve our SPENDING problems… :)
Report Post »http://www.youtube.com/watch_popup?v=JY8LKII_MNA&feature=youtube_gdata_player
RonmeyPaulBotsrOdd
Posted on January 19, 2012 at 8:26amHuh. Has Buffet ever called for a reduction in spending? I think he is still doing the bidding of the IRS via Obama to keep his tax evasion losses minimal. Always – just follow the money.
Report Post »ThoreauHD
Posted on January 19, 2012 at 8:24amHe just threw his money down a union owned hole.
Report Post »MaGerkin
Posted on January 19, 2012 at 8:01amYeah, i agree with a few of you. Donating to the treasury is worthless unless spending actually goes down the same amount at the bare minimum. As far as Buffett’s believe that spending should be 20-21% of GDP, “YIKES” is all i have to say. if that is our goal for federal spending we are really screwed.
Report Post »VerySeniorCitizen
Posted on January 19, 2012 at 7:48pmBuffet ALSO said that Revenue needs to be increased by 18-19% – or didn’t you read that part or his letter. Although, if you did – are you expecting that revenue to ONLY come from those who earn the average of $50K per year – or maybe just quit paying seniors their Social Security and apply that to the debt. I’m waiting for McConnell to cough up his donation!
Report Post »ThePostman
Posted on January 19, 2012 at 7:48amIt is retarded to make a donation to the treasury. Any amount donated simply allows the politicians to over-spend even MORE. It is the equivalent of giving crack to an addict in the hopes the addict will get better. Anyone think Buffett would EVER knowingly engage in a losing proposition? I know him very very well, and he would not.
The solution to this problem is for Americans to stop paying taxes. It is the ONLY solution. Cold turkey, for the sake of the nation. PAYING TAXES is what supports the Buffetts and Soros and Romneys of this world so they can pay virtually nothing.
Report Post »SpankDaMonkey
Posted on January 19, 2012 at 7:41am.
The Headlind should have read……
Ate Up With the Dumbass: VA Congressman Takes Buffett Up on His Contribution Pledge
This is one of those PC White Guilt Moron Traps. You can’t WIN…..
If you don’t give now after this fool fell head first into the trap, You’ll be Branded “GREEDY for keeping what you worked for”. And if you do give they will go “See How Much You Have, now Give More”…………
Report Post »BrerRabbit
Posted on January 19, 2012 at 7:34amWill it really go to pay down the debt or pay for another POTUS vacation trip?
Report Post »ares338
Posted on January 19, 2012 at 7:02amHe will of course get any money he donates back by hook or crook. People don’t have that much money by giving it away! Anything given to charity can be written off and political contributions are always rewarded.
Report Post »smithclar3nc3
Posted on January 19, 2012 at 7:21amWhy match only Republican?
Report Post »@leftfighter
Posted on January 19, 2012 at 7:22amYou know what’s interesting? I‘m doing the math on this and Buffett isn’t at all serious about paying off the debt.
My proof? In his letter, he says he wants outlays to at 20-21% of GDP with income at 18-19%.
Uh- I’m no Warren Buffet or anything, but I‘m pretty sure that would mean we’re still paying out more than we’re taking in.
Hahahahaha! You see what I did there? Instead of calling myself a math wizard, I said “Warren Buffet” because surely, he‘d know that spending more than you bring is doesn’t decrease the debt!
Or not.
Report Post »smithclar3nc3
Posted on January 19, 2012 at 7:23amAnd correct me if I’m wrong but Warren Buffet has be ina court case for over 5 years for the 1 billion in back taxes he already owes.
Report Post »smithclar3nc3
Posted on January 19, 2012 at 7:25ambuffet owes IRS BILLIONS
Report Post »http://www.newsmax.com/InsideCover/buffett-irs-back-taxes/2011/09/01/id/409520
BehindBlueEyes
Posted on January 19, 2012 at 7:33am@SMITHCLAR3NC3
Report Post »Excellent point!
BSdetector
Posted on January 19, 2012 at 7:35amHey Buffet, how about you pay off what you ALREADY OWE, then we can talk about “donations.”
Report Post »frankie v
Posted on January 19, 2012 at 6:49amHow childish and ridiculous..Non of this addresses the problem…There is not enough money available to even make a noticeable dent in the deficit…
Report Post »smithclar3nc3
Posted on January 19, 2012 at 7:24amhttp://www.newsmax.com/InsideCover/buffett-irs-back-taxes/2011/09/01/id/409520
Report Post »00gabooga
Posted on January 19, 2012 at 6:41amHow many abortions and/or welfare mansions does that pay for?
Report Post »SpankDaMonkey
Posted on January 19, 2012 at 6:30am.
VA Congressman Takes Buffett Up on His Contribution Pledge
I think this dude just got Raw-Dogged and he don’t even know it……….
Report Post »bets
Posted on January 19, 2012 at 6:15amBuffett owes 1 Billion in back taxes, or his company they should pay up. As for this stupid fight of getting the rich to pay more sounds like what Europe did to their rich folks. Did that get them anywhere? Nope. Because those governments did not change the practices that got them there. This is totally stupid i want my children to be able to become as rich as Buffett and company. As for this government working on trying to make it not possible to pass your wealth down to your children that needs to stop as well. Children should benefit from their parents knowledge and wealth. No matter how great or small that wealth is.
Report Post »BehindBlueEyes
Posted on January 19, 2012 at 6:05amAt one time I considered Warren Buffet a financial genius now I just think of him as a useful idiot with a lot of money.
Report Post »Romans623
Posted on January 19, 2012 at 4:48amNot a big deal. Barry O will slip it back to him under the table.
Report Post »Bobj_1960
Posted on January 19, 2012 at 4:32amAS of 6 months ago, Mr. Buffet owes more than 1 BILLION in back taxes, C’mon, pony up big boy, or or you still trying to negotiate that figure DOWN?
Report Post »bullcrapbuster
Posted on January 19, 2012 at 3:09amIt is stupid to be discussing who pays what in taxes. Is the responsibility of the IRS to see that the laws are obeyed regarding the paying of taxes. Buffett is getting senile. He’s like, see who is dumb enough to give the government the most money to waste. We must have a rash of idealistic teenagers posting here tonight.
Report Post »loriann12
Posted on January 19, 2012 at 6:33amAnd it’s our responsibility to elect someone who we believe will change the tax code. How about a flat tax with only deductions for mortgage interest, medical bills and charitable contributions?
Report Post »Got2bRoni
Posted on January 19, 2012 at 2:44amWay to fall into his snare…
Report Post »abbygirl1994
Posted on January 19, 2012 at 2:06amWait a minute, if Buffet pays less than his secretary, which might be less than what Romney paid, then why would the WH jump on Romney’s taxes.. wouldn‘t it be smarter for Obama jump on Buffet’s taxes? Sounds like Buffet has been screwing the country for quite awhile.
Report Post »lukerw
Posted on January 19, 2012 at 2:01amThis is STUPID! Does No One know how CAPITALISM functions?
Report Post »Floyd ALsbach
Posted on January 19, 2012 at 5:40amWill the Church give me an Amen?
Report Post »smokey888x2
Posted on January 19, 2012 at 1:52amSeems more like a ******* contest with a skunk. The problem with Buffett and liberals is that they think ‘government’ is their religion. It’s not!! Government was never intended to be your religion but most liberals don’t have a church.
Report Post »Rational Man
Posted on January 19, 2012 at 1:47amThis whole thing is so stupid, it gives me a headache.
Report Post »Somebody needs to tell Buffet that most people don’t want to pay more taxes until the government starts spending wisely and less. There are much more worthy causes out there to give to than a runaway government that wastes trillions of dollars. Yea, let me pitch in on another Solindra like failure.
Rigell is an idiot for taking the bait.
We have real serious problems and this is what we get????
Goodbye America……………….
mramise
Posted on January 19, 2012 at 1:45amWell……
Report Post »Free2speakRN
Posted on January 19, 2012 at 1:40amThe percentage of their ‘finacial worth’ would be more fair. I think congress makes too much money as it is, but even so, if Warren wants to match givings, the pains of giving should be as similar as can be.
Example: the woman in the Bible that gave a penny, but it was basically her ‘all’.
Report Post »nzkiwi
Posted on January 19, 2012 at 1:53amVery good point. And I remember that story.
Report Post »bajaman
Posted on January 19, 2012 at 1:11amWhy didn’t he challenge any democrats…………..
Report Post »survivorseed
Posted on January 19, 2012 at 1:06amGood on both of them. Time to man up Mitch, 3 to 1 is good odds.
Report Post »