Hillary Clinton proposed a 30 percent tax on the wealthiest Americans while speaking at a rally along with billionaire investor Warren Buffett in Omaha, Neb., on Wednesday.
The tax, known as “the Buffett rule,” requires those making over $1 million per year to pay the increased tax. Buffett, who has argued millionaires shouldn’t make more than their secretaries, endorsed Clinton at the event.
“Right now there has been too much that allows to let the wealthy get wealthier at the expense of other people,” Clinton said.
Although Buffett is one of the wealthiest men in the United States, he spoke at length about income inequality, endorsing Clinton’s proposals to strengthen the middle class and raise wages for those making the least amount of money.
“She is very smart, but there’s a few candidates that are probably smart too,” Buffett said of Clinton. “All of the candidates are extremely hardworking, you have to be. But the difference is that you will not hear, I will guarantee you, those figures I just recited about income and tax rates at a Republican debate. And Hillary when she’s elected will never forget those.”
While Buffett has yet to financially contribute to the Clinton campaign, the rally is scheduled the same day as a fundraiser he is hosting for her in Omaha.
“I can’t think of better way to start an event than to hear from Warren Buffett,” Clinton said after his introduction. “One of the reasons I’m so proud to have his support along with his many accomplishments, is that he’s never lost sight of what made this country great.”
