Warren Buffett in 2010 Won Nearly $ 63 Million But Only 6.9 in Taxes Paid
by Warren Buffett, the third richest man in the world according to Forbes magazinelast year earned almost $ 63 million but only $ 6.9 million paid in taxes, asreported philanthropist himself to defend his plan to increase the tax on the highest incomes in the U.S.. Rep. Tim Huelskamp a letter published Wednesdayin which he broke down his Buffett income tax, which ensures that the billionairewas able to reduce your tax basis in $ 23 million through its charitable contributions and because much of their income comes from investments.
Buffett explained in the letter that $ 62,855,038 in 2010 entered, but only paid $ 6,923,494 in taxes, 17.4% of their taxable income of $ 39,814,784 and another $ 15,300 in base salary deductions. The chairman of Berkshire HathawayHuelskamp told that he would like some of his colleagues richer, as the CEO ofNews Corporation, Rupert Murdoch, follow suit and reveal their statements.
“Clearly many of the wealthiest are paying rates even lower than mine and gettheir records would be useful for our legislators could build a more equitable tax law,” said Buffett. The philanthropist, published last August 15 an editorial in The New York Times in which he requested that the U.S. stop ”baby” with tax breaks to the wealthy and proposed raising taxes on billionaires like him.
Buffett believes that the current system for classifying the profitability of investments and accrued interest thereof, is an unfairness against employees in the U.S., where 80% of tax revenue comes from payroll taxes on employees .The ”Oracle of Omaha” proposes raising the tax on taxable incomes over one million dollars, including dividends and capital gains, and higher taxes even for those citizens who earn more than ten million dollars a year.
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