Former General Electric CEO Jack Welch said Wednesday that he doesn’t feel undertaxed.
“I pay over 30 percent every year,” said Welch on CBS’s “This Morning.” “I don’t feel undertaxed in any way at all.”
It was clear that Welch would not be following the model of billionaire Warren Buffett’s friendly relations with the president.
Buffett became the inspiration behind the “Buffett Rule,” which suggests that millionaires and billionaires should pay at least the same rate as middle class wage-earners, after he pointed out his secretary paid a higher effective tax rate than he did.
Although his self-reported tax rate of over 30 percent indicates that Welch might be close to adhering to the rule - the highest tax bracket is 35 percent - the businessman offered no Buffett-esque support for the president.
“I will support any Republican nominee against the current incumbent,” he said, when asked if he could support Santorum if the former Pennsylvania won Michigan and the nomination.
Pushed by host Charlie Rose to say whether he’d be prepared to pay more taxes if they could be sure where the money was going, Welch was dismissive.
“If we thought it would go to deficit reduction and not more silly programs, maybe that would be a good argument,” said the wealthy businessman.
But with that said, Welch wasn’t completely critical of President Barack Obama, saying the president’s plan to reduce the corporate tax rate was a step in the right direction.
“We’re going to have dueling tax proposals. As long as they go in this direction, it’s all good. But there won’t be anything done this year,” said Welch.
And Welch also had good things to say about the president’s foreign policy. “I think the president has done a reasonable job in foreign policy. In my opinion, it’s been one of his strongest areas,” he said.
Former General Electric CEO Jack Welch said Wednesday that he doesn’t feel undertaxed.
“I pay over 30 percent every year,” said Welch on CBS’s “This Morning.” “I don’t feel undertaxed in any way at all.”
It was clear that Welch would not be following the model of billionaire Warren Buffett’s friendly relations with the president.
Buffett became the inspiration behind the “Buffett Rule,” which suggests that millionaires and billionaires should pay at least the same rate as middle class wage-earners, after he pointed out his secretary paid a higher effective tax rate than he did.
Although his self-reported tax rate of over 30 percent indicates that Welch might be close to adhering to the rule - the highest tax bracket is 35 percent - the businessman offered no Buffett-esque support for the president.
“I will support any Republican nominee against the current incumbent,” he said, when asked if he could support Santorum if the former Pennsylvania won Michigan and the nomination.
Pushed by host Charlie Rose to say whether he’d be prepared to pay more taxes if they could be sure where the money was going, Welch was dismissive.
“If we thought it would go to deficit reduction and not more silly programs, maybe that would be a good argument,” said the wealthy businessman.
But with that said, Welch wasn’t completely critical of President Barack Obama, saying the president’s plan to reduce the corporate tax rate was a step in the right direction.
“We’re going to have dueling tax proposals. As long as they go in this direction, it’s all good. But there won’t be anything done this year,” said Welch.
And Welch also had good things to say about the president’s foreign policy. “I think the president has done a reasonable job in foreign policy. In my opinion, it’s been one of his strongest areas,” he said.
Former General Electric CEO Jack Welch said Wednesday that he doesn’t feel undertaxed.
“I pay over 30 percent every year,” said Welch on CBS’s “This Morning.” “I don’t feel undertaxed in any way at all.”
It was clear that Welch would not be following the model of billionaire Warren Buffett’s friendly relations with the president.
Buffett became the inspiration behind the “Buffett Rule,” which suggests that millionaires and billionaires should pay at least the same rate as middle class wage-earners, after he pointed out his secretary paid a higher effective tax rate than he did.
Although his self-reported tax rate of over 30 percent indicates that Welch might be close to adhering to the rule - the highest tax bracket is 35 percent - the businessman offered no Buffett-esque support for the president.
“I will support any Republican nominee against the current incumbent,” he said, when asked if he could support Santorum if the former Pennsylvania won Michigan and the nomination.
Pushed by host Charlie Rose to say whether he’d be prepared to pay more taxes if they could be sure where the money was going, Welch was dismissive.
“If we thought it would go to deficit reduction and not more silly programs, maybe that would be a good argument,” said the wealthy businessman.
But with that said, Welch wasn’t completely critical of President Barack Obama, saying the president’s plan to reduce the corporate tax rate was a step in the right direction.
“We’re going to have dueling tax proposals. As long as they go in this direction, it’s all good. But there won’t be anything done this year,” said Welch.
And Welch also had good things to say about the president’s foreign policy. “I think the president has done a reasonable job in foreign policy. In my opinion, it’s been one of his strongest areas,” he said.
Former General Electric CEO Jack Welch said Wednesday that he doesn’t feel undertaxed.
“I pay over 30 percent every year,” said Welch on CBS’s “This Morning.” “I don’t feel undertaxed in any way at all.”
It was clear that Welch would not be following the model of billionaire Warren Buffett’s friendly relations with the president.
Buffett became the inspiration behind the “Buffett Rule,” which suggests that millionaires and billionaires should pay at least the same rate as middle class wage-earners, after he pointed out his secretary paid a higher effective tax rate than he did.
Although his self-reported tax rate of over 30 percent indicates that Welch might be close to adhering to the rule - the highest tax bracket is 35 percent - the businessman offered no Buffett-esque support for the president.
“I will support any Republican nominee against the current incumbent,” he said, when asked if he could support Santorum if the former Pennsylvania won Michigan and the nomination.
Pushed by host Charlie Rose to say whether he’d be prepared to pay more taxes if they could be sure where the money was going, Welch was dismissive.
“If we thought it would go to deficit reduction and not more silly programs, maybe that would be a good argument,” said the wealthy businessman.
But with that said, Welch wasn’t completely critical of President Barack Obama, saying the president’s plan to reduce the corporate tax rate was a step in the right direction.
“We’re going to have dueling tax proposals. As long as they go in this direction, it’s all good. But there won’t be anything done this year,” said Welch.
And Welch also had good things to say about the president’s foreign policy. “I think the president has done a reasonable job in foreign policy. In my opinion, it’s been one of his strongest areas,” he said.
