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Thursday, 28 June 2007

Buffett Tax Gripe

Filed under: News |

I find this ironic in a way that Warren Buffett, the third-richest man in the world, complains about the US tax system because he pays less in overall tax than his secretary and cleaner. He uses his tax attorneys to take advanatage of every loophole which currently exists in US Tax Law.
Perhaps he should look at it from a different angle: if he’s so adamant that he should pay more taxes, then why not simply write an additional check on April 15 every year, payable to the United States Treasury, for $X,XXX,XXX,XXX.XX (say, at least a billion dollars), and put in the memo line “For Reduction of the National Debt.” See? Problem solved, and he’ll feel better too after having redistributed his own wealth. Isn’t that what all his whining and moaning was all about?

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