Wednesday, June 27, 2007

Buffett's tax rate/

Tax Prof comments on Warren Buffett's tax rate.
Warren Buffet complained that he paid a 17.7% tax rate on his $46 million of taxable income in 2006, while his employees paid an average 32.9% tax rate (his receptionist's tax rate was 30%).

I think it worth remembering Buffett's 17.7% is a tax bill of near $8,000,000. While the secretary is paying maybe $33,000 if her salary is a hundred thousand. Does Buffett really get 250 times more service from his tax dollars? (h/t to Instapundit)

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