Christie to Oracle of Omaha: 'Write a check and shut up'

MAR 20, 2012
By  Bloomberg
New Jersey Gov. Chris Christie said last week that billionaire investor Warren E. Buffett, who has called for the nation's wealthiest people to pay more taxes, should “just write a check and shut up.” “I'm tired of hearing about it,” Mr. Christie told CNN's Piers Morgan in an interview that aired last Tuesday. “If he wants to give the government more money, he's got the ability to write a check,” Mr. Christie said. “Go ahead and write it.” Mr. Christie, a 49-year-old first-term Republican known for a blunt and caustic style, has proposed a 10% income tax cut for every New Jersey resident. Democrats who control the Legislature contend that his plan would favor the rich. A family with a $50,000 annual income would save $80 under his plan, while someone earning $1 million would save $7,200, they said. Democrats “want you to be angry because your neighbor makes more than you do,” Mr. Christie said Wednesday at a town hall meeting in Palisades Park, N.J. “That's not the New Jersey I know, and it's not the America that I know.” Mr. Buffett, the 81-year-old chairman of Berkshire Hathaway Inc., has urged Congress to raise taxes on millionaires to cut the U.S. deficit. In a New York Times Op-Ed last year, he wrote that his federal income tax bill was $6.94 million, or 17.4% of his taxable income, a lower rate than that paid by any of the other 20 employees in his Omaha, Neb., office. Mr. Buffett, a Democrat, endured scorn from Republicans last year after he called the Tea Party approach to budget talks “insane” and proposed raising $500 billion by taxing the richest Americans. President Barack Obama has called for a minimum rate of 30% for those with income of $1 million or more a year. The proposal has been dubbed “the Buffett Rule.” Carrie Kizer, Mr. Buffett's assistant, didn't return an e-mail or telephone call seeking comment on Mr. Christie's statements. Mr. Christie's past comments have brought him national attention. In October, he spurned calls to run for president and has endorsed former Massachusetts Gov. Mitt Romney for the Republican nomination.

OTHER OUTBURSTS

Mr. Christie has called a lawmaker “numbnuts,” urged reporters to “take the bat out” on a 76-year-old legislator and described union leaders as “political thugs.” The governor, who vetoed a bill to legalize gay marriage and wants it put to a popular vote instead, told its supporters last month that blacks would have been pleased to have their civil rights decided that way. “People would have been happy with a referendum on civil rights rather than fighting and dying in the streets of the South,” Mr. Christie told reporters Jan. 24 in Bridgewater, N.J. He was accused of ignorance by leaders such as Rep. John Lewis, D-Ga., a veteran of the civil-rights movement who was beaten by Alabama state troopers. Mr. Lewis traveled to Trenton, N.J., to denounce Mr. Christie. Jon Stewart, a New Jersey native and host of the satirical “Daily Show,” lampooned Mr. Christie last Tuesday night for his veto. “I was very proud last Friday to say the state Legislature, the state where I grew up, voted to legalize gay marriage,” Mr. Stewart said. “Unfortunately, like most events in New Jersey, it was immediately thrown off course by a loud Italian guy.”

Latest News

Hybrid Realta Wealth nabs ex-Ameriprise leader for national recruiting strategy
Hybrid Realta Wealth nabs ex-Ameriprise leader for national recruiting strategy

The independent wealth firm says its latest hire will lead its business development team in recruiting elite advisor talent.

Yields jump to 4% for 10-year US Treasuries as traders weigh 'no landing' scenario
Yields jump to 4% for 10-year US Treasuries as traders weigh 'no landing' scenario

Could the US economy not only avoid slowdown but reignite inflationary influences?

US real estate investors likely to find financing challenging
US real estate investors likely to find financing challenging

High costs of borrowing for homes, cautious lenders for CRE barriers to investing.

Tricky earnings season will test $8T S&P rally
Tricky earnings season will test $8T S&P rally

Third quarter results may not live up to expectations.

Wall Street unsure about Pfizer, but Starboard just bought $1M stake
Wall Street unsure about Pfizer, but Starboard just bought $1M stake

Will activist investor help solve drugmaker's post-pandemic challenges?

SPONSORED Leading through innovation – with Tom Ruggie of Destiny Wealth Partners

Uncover the key initiatives behind Destiny Wealth Partners’ success and how it became one of the fastest growing fee-only RIAs.

SPONSORED Client engagement strategies, growth and retention in the down markets

Key insights from Gabriel Garcia on adapting to demographic shifts and enhancing client experience in a changing market