Interesting. So in other words, Buffet had something like $22 Million in itemized deductions! Call me crazy, but that's a whole lot of deductions that Buffet took advantage of. I have no problem with that, but frankly, did he really have to comb the tax code for that many deductions? In any case, I don't get why Buffet, or anyone else, thinks that income derived from dividends and should be taxed at a rate "higher than your secretary". Dividend income has already been taxed once at the corporate level, why should it be taxed twice? In case someone doesn't know, the secretary's income is a deduction to the corporation, and therefore is only taxed once. Capital gains has long been taxed at a favorable rate. Income derived from capital gains depends upon the recipient taking risk. Obviously the secretary does not take risk to earn her income. Favorable tax rates encourage this risk taking. Do you want to reduce investment? And perhaps it should be pointed out that there are no taxes on capital gains in some parts of the world. Good thing Buffet is evidently more intelligent when it come to investment than discussing tax policy. This guy, and Bill Gates, both ought to be spanked for being such traitors to the capitalistic system from which their wealth stemmed. OldTrader
WB needs to be sued by his shareholders. He is not fulfilling his role as a CEO when he is doing everything he can to make the company make less money and pay more taxes
In a traffic jam, you'll get through if you break the traffic rules. In chaos among 370 million Americans, you can make money only if you break laws.