During an appearance on CNBC Friday morning, billionaire investor Warren Buffett appeared to change course on President Barack Obama’s jobs plan, admitting he had not read the plan and suggesting that he’ll likely oppose parts of it.
The admission is particularly surprising, given Buffett’s recent advocacy of the plan, and namely his support for higher tax rates for wealthy people. He’s even planning to host a fundraiser for President Obama in Chicago next month, so it’s likely his comments on Friday will be sure cause something of a media commotion as pundits and investors argue over where he really stands.
Nevertheless, the president has proposed what being called the “Buffett tax,” aimed at ensuring the wealthiest Americans pay a tax rate that’s at least equal to what middle-class Americans pay. Polls show that a majority of Americans — and even a majority of Republicans — support this move, but it remains to be seen if Democrats and get it through Congress.
This video is from CNBC, broadcast Friday, Sept. 30, 2011.