[sumedh]

> "the rich don't pay taxes because of their fancy lawyers and accountants" generally turns out to be false.

So why does Buffett keep on saying that he pays low taxes compared to his secretary?

[kspaans]

Short explanation: capital gains, dividend income is taxed less than normal (wage, salary, etc) income. And I believe Buffett means that he pays a lower effective tax rate than his secretary, not fewer taxes in absolute terms.