Berkshire Chairman denounces Lawmakers Decision to dismantle Affordable Healthcare Bill

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Warren Buffett

Scribe:  N.Tru Bass



During a Saturday meeting of shareholders Berkshire Hathaway Inc Chairman Warren Buffett said, healthcare cost is a parasite on the American economy. 

The US House of Representatives on Thursday with scathing retort approved a bill to repeal and replace the Affordable Care Act set in place by former President Barack Obama in 2010 in an effort to reform the American health care system. 

Buffett is the fourth richest man in the world with a net worth of more than $74 billion said during the meeting, “So it is a huge tax cut for guys like me," he continued. "And when there's a tax cut, either the deficit goes up or they get the taxes from somebody else."

The successful businessman quipped that health care cost have risen faster in the United States than in the rest of the world and will continue the trend.  He said, "Medical costs are the tapeworm of American economic competitiveness," and further. "That is a problem this society is having trouble with and is going to have more trouble with."

The Berkshire Chairman has sworn to donate nearly all his fortune to charity.  

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