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by Reclix
5726 days ago
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Interesting thought on the tax loophole closing (when considered a bit more broadly). If we must put up with high taxes, then what's the point if only the people who can afford clever accountants can find a way to shuffle money to loophole their way into lower tax brackets? I used to work for a Hollywood account, and every single actor has their own company for this reason. Wasn't it Warren Buffet that mentioned he pays less taxes than his secretary? Or is this propaganda that I've been duped into believing? |
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Whether it's a good example, propagandistic, etc., is another story, but on the factual question of whether he said it, he did. The main reason isn't so much loopholes as source of income: employment income (what his secretary gets) is taxed at a higher rate than investment income (what Buffett gets).