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Sunday, February 17, 2019

Berkshire Hathaway’s Charlie Munger says California, Connecticut have been 'stupid' for driving out rich people | CNBC

Warren Buffett's right-hand man says Connecticut and California have driven out a lot of rich people. "I think it's really stupid for a state to drive the rich people out. "They are old, they keep your hospitals busy, they don't burden your schools, police departments or prisons."


Recently, some lawmakers have been pushing for higher taxes on the wealthy, especially Rep. Alexandria Ocasio-Cortez, D-N.Y. , who has proposed a 70 percent marginal tax on incomes over $10 million in an effort to diminish the growing wealth gap.


cnbc.com/2019/02/15/charlie-munger-says-california-connecticut-have-been-stupid-for-driving-rich-people-away.html