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Politics : View from the Center and Left -- Ignore unavailable to you. Want to Upgrade?

To: Paul Smith who wrote (140915)	7/15/2010 3:54:04 PM
From: Dale Baker	Read Replies (1) \| Respond to of 542904

Like most affluent people, Buffett gets most of his income from dividends and long-term capital gains, all taxed at 15% instead of the high 30%'s he would pay on income. I think his salary has been $100K for decades now, just a token.

To: Paul Smith who wrote (140915)	7/15/2010 4:31:22 PM
From: JohnM	Respond to of 542904

As for Buffet, if he really pays less tax than his secretary, it must be due to activity by him that reduces his taxes - activity which legislation was passed to encourage. I see that I need to keep repeating what I said because you change it. Apparently you don't read what I write very well. I said the story goes that Buffet pays taxes at a lower rate than his secretary; not that he pays less taxes. And the remainder of those sentences simply underlines the point I'm making. If you've got money in this country, the tax code is your friend. As I've said here far too often, I learned that when we were settling my mother's estate. The process of resetting the values of equity holdings was a huge revelation to me. I had no idea. Naive me.