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Monday, Apr 21, 2014
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T-Bone Pickens  
Poth  
February 1, 2012 11:11am
 
When people such as Warren Buffet come out and say that they pay tax at a rate of 15%, it is not only misleading, but a total distortion of the facts and frankly a flat out lie. He is telling you the tax that ends up on his personal tax return. Berkshire Hathaway pays federal tax at an effective rate of 35%. So before old Warren gets his dividend check, the amount of investment earnings available to be distruted have been reduced by 35% (plus state taxes). If Warren were telling the truth, he would state that his overall tax rate is 40%. Also if Warren believes he should pay more tax, instead of distorting the facts to accomplish his political points of view, he should just pay more. The US Treasury would be happy to accept his donation.
     
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