Stop Coddling the Super Rich- Warren Buffett

Right- he can defer his own income from BH if he chooses, but whenever it does come out whether today or in 5 years, that tax rate is averages 17% because of HOW and WHERE it came from. That is what his main message is.

If he defers his income for later- with the current tax code he could use the same loop holes then too.

Let's agree to disagree.
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I agree that we can agree to disagree. Just my whole point was he's not telling the whole story. When he makes that statement, everyone comes to the conclusion that the super wealthy Warren B is paying less percentage wise in taxes than his office workers and the reality is that's just not true. That was all I was saying.
 
Another un-truth is when anyone talks about taxing the "rich".
We don't tax wealth in this country. Well, at least before you die. "Rich" people pay no taxes unless they have income. That is, unless they die.

If WB is proposing a pre-death wealth tax, let him spell it out.

Bottom line is that he supported Obama and he cannot admit he made a terrible mistake. He's not alone.
 
A company you own paying taxes is not the same as you paying taxes. Corporations are a separate legal entity for a reason and it's unfair to erase that separation merely to aid your argument.
 
If you set up the corporation under Subchapter S then the income flows through to the shareholders and there is no federal income tax.
 
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