Monday, September 19, 2011

Time to audit Buffett's books

The “Buffett Rule” Isn’t Supported By The Evidence:

Because Warren Buffett paid less tax than his secretary, either his secretary's salary is higher than Buffett's or he's cooked his reported income somehow.
2. For federal income taxes, most secretaries would probably be paying an average federal tax rate of 9-12%, and most of the “super-rich” bosses with incomes of $200,000 or more would be paying average federal income tax rates about three times higher than their secretarial staff members, i.e. 25% or higher.

Bookmark and Share

No comments:

Post a Comment