Warren Buffett attacks tax rates as being too low?

“Mr Buffett said that he was taxed at 17.7 per cent on the $46 million he made last year, without trying to avoid paying higher taxes, while his secretary, who earned $60,000, was taxed at 30 per cent.” (see Times Online article)

Sounds like Warren Buffett has a perfect argument to lower his secretary’s tax rate to 17.7% (or lower). How about that Warren? Of course, that is unlikely to happen since Buffett has made his stance clear – that he wants everyone to pay MORE taxes, not less.

While the Times Online artcile is headlined “Buffett blasts system that lets him pay less tax than secretary” that is clearly misleading. He was paying at a lower rate. He is, of course, free to pay the 30% that his secretary paid if he is as concerned as he claims. Think that would happen? Just as Buffett blasts the estate tax reform, while at the same time ensuring his estate has to pay no income taxes, he is un-happy about tax rates he is paying, and yet still never volunteers to pay more.

Warren Buffet hypocritical? You think?

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