| Baalzamon said: Yes, they are paying lower tax rates, but it isn't just as simple as lower tax rates. When you have huge businesses like these people (heck, even I am self employed and write stuff off), you are generally writing off shit loads of stuff, so a lot of your income won't even be considered taxable. |
That may play a role, but from what Buffett himself says, its probably not anywhere big enough to create the result he's referring to, in addition, the writeoffs of Berkshire hathaway would probably apply to its own corporate taxes and not his taxes, since a corporation is a seperate legal entity, he seems to indicate tat his taxes seem to be affected by the difference in tax rates of different sources of his wealth, and it proably applies to a lotof other wealthy people as well.
