C’mon Warren, tell the whole story. The only reason your net tax rate is so low is because most of your income is from stock dividends. Your salary puts you in the top tax bracket which is 28% and that is what you are paying on your wages. Tell it like it is.
The money that’s paid to you in dividends is taxed at 35% before you even get it. Then you are taxed another 15% on the same money. The government is getting half of the profit the business makes. Isn’t that enough? It’s in the same ballpark as many other countries although they collect it differently. Some tax all 50% at the corporate level and take none from the investor. Others take all 50% from the investor and nothing from the corporation on money they pay out in dividends. In the latter case your bottom line taxes would be nearly 50%. In either case the money collected by the government is the same.
Quit your squawking and do more of what your buddy Bill Gates does. Give more of your embarrassment of riches directly to good causes like hospitals, schools and centers for medical research. By-pass the middle man. Your money will go farther. None of it will be siphoned off for political corruption and you can choose what you want to support. If Obama loses the next election your tax money will be managed by Republicans. Is that really what you want?
- Warren Buffet Calls For Tax Increase (themoderatevoice.com)