Warren Buffett On Taxation: Listen To My Advice, Not My Accountant’s
On Friday, I learned of this
Mr. Buffett has also already sheltered the bulk of his fortune from federal taxes by putting them into a foundation that will give the money away.
which was definitely puzzling in light of this.
But for those making more than $1 million — there were 236,883 such households in 2009 — I [Warren Buffett] would raise rates immediately on taxable income in excess of $1 million, including, of course, dividends and capital gains. And for those who make $10 million or more — there were 8,274 in 2009 — I would suggest an additional increase in rate.
My friends and I have been coddled long enough by a billionaire-friendly Congress. It’s time for our government to get serious about shared sacrifice.
On the one hand, Mr. Warren Buffett advocates for tax hikes on the rich. On the other, he has arranged to deprive the federal government of a huge chunk of taxes – namely, the taxes on his own estate.
After struggling, ultimately without success, to reconcile the words with the actions, it became impossible to argue with this.
It seems to me that Buffett’s actions imply a clear distrust of governmental taxing and spending programs and their ability to improve society in an efficient manner.
Indeed, Saul Elnadav. And casts his calls for tax increases in a less than credible light.