Buffett: 'We Need More Taxes'

“Good Morning America” consulted one of the news media’s favorite investors on July 10 asking Warren Buffet to advise their audience.

ABC correspondent Bianna Golodryga interviewed the liberal billionaire Warren Buffett about investing and the economy. During the questioning, Buffett backed President Obama’s call for increased taxes on the wealthy.

After talking about education and investments Golodryga said, “And while he’d be forced to deduct less from his charitable organizations, the worlds’ largest philanthropist is also breaking ranks with many of his fellow billionaires by supporting the president's stance on raising taxes.”

Buffett told Golodryga: “We need more taxes, too. If people are deterred from making a contribution because they only get a 28 percent deduction rather than a 35, when they’ve their capital gains only taxed at 15 percent against a much higher rate in the past, I would say that you're gonna to hear from people who say they're going to withdraw giving billions, who in the past have probably given $12.86 or something of that sort.”

Golodryga clarified, “So to you, this is just, it's semantics?” Buffett replied that arguments against the tax increase were “a red herring.” But charities that would receive less might not exactly agree with Golodryga or Buffett.

Using the media darling Buffett to cheerlead for Obama and higher taxes is nothing new for Golodryga or the networks.

During a 2008 “Nightline” segment about the “ [1]the super rich,” Golodryga declared that Buffet was “concerned about the burgeoning wealth gap.” And in 2007, Golodryga touted Buffett as a “ [2]Robin Hood” for looking into the percentage of taxes he pays compared to his staff.

In that appearance, Golodryga gushed over Buffett’s advocacy of the estate tax and “Good Morning America” co-host Diane Sawyer praised Buffett for being on “your side over taxes and fairness.”

But it is not just ABC that has aired Buffett’s calls for increased taxes. The billionaire investor also appeared on NBC’s “Nightly News” in 2007 to advocate raising taxes on the rich. Buffett declared, “The taxation system has tilted toward the rich and away from the middle class in the last 10 years. It’s dramatic and I don’t think it’s appreciated. And I think it should be addressed.”

CBS’s “The Evening News” featured a segment in 2008 about Obama economic advisor Buffett calling for [3]higher taxes. Correspondent Chip Reid said, “Despite his billions, he says the rich are under-taxed.”