The full Buffett interview will air on a special Thanksgiving edition of 'This Week' focused on The Giving Pledge, a major philanthropic effort spearheaded by Buffet, and Bill and Melinda Gates.
The billionaire brushed aside Republican arguments that letting tax cuts expire for the wealthy would hurt economic growth.
'They say you have to keep those tax cuts, even on the very wealthy, because that is what energizes business and capitalism,' anchor Amanpour said.
'The rich are always going to say that, you know, just give us more money and we'll go out and spend more and then it will all trickle down to the rest of you. But that has not worked the last 10 years, and I hope the American public is catching on,' Buffett explained.