As reported by the New York Times, Buffett criticized the measure “as a giveaway to wealthy individuals like himself”, and said the American Health Care Act was essentially “a huge tax cut for guys” like him. Obamacare helps provide insurance for Americans by taxing the wealthy, but the Republican replacement does away with such provisions.
Buffett further argued that health care costs in general are parasitic, calling them “the tapeworm of American economic competitiveness”, and adding that rising costs are more problematic than high taxes.
This is not his first foray into the health care debate. Buffett used similar terminology back in 2013 saying, “Healthcare costs in the United States are like a tapeworm eating at our economic body. We have a health system that, in terms of costs, is really out of control.”
Buffett is not alone in his criticism of the American Health Care Act. Many in the medical profession have spoken out against the bill, citing harm to Americans as insurance becomes unaffordable and access to care is out of reach.