Posted by
Always To The Right on Friday, June 29, 2007 9:46:46 PM
Read this article and you can see some interesting information about Warren Buffett. Read it.
Billionaire Warren Buffet, sage of
Omaha, is a man we admire as an investor. He's done a brilliant job of
ferreting out value from stocks that are out of favor. He's made many
people rich, and that's a noble thing. But when he mounts a political
dais at a $4,600-a-plate fundraiser for Sen. Hillary Clinton, and
begins saying things that just can't be true, we start to wonder why.
Buffett told Clinton's supporters he makes $46 million a year in
income, but is taxed only at 17.7%. Meanwhile, he claims, his secretary
pays 30% in taxes, and the rates for others who work for him are as
high as 39.7%.
Sounds unjust, if true. But we don't know what tax
system Buffett is looking at. It certainly isn't the one we use here in
the U.S. We went to the IRS' Web site and used its tax calculator. We
put in various incomes, from $50,000 to $350,000 a year — the latter
being quite a bit for a secretary to make in Omaha.