On Thu, 28 Sep 2017 17:35:33 -0000 (UTC), Bill
wrote:

wrote:
On Wed, 27 Sep 2017 15:38:03 -0400, Keyser Soze
wrote:

You mean, as in the Eisenhower era, when tax rates were so much higher?

People ignore the fact that there were a lot more loopholes in the
code that allowed anyone but game show winners and a few high salaried
people to shelter most of their income so that 90% rate did not affect
them that much. It is like Buffett (Warren or Jimmy) who pay a tax
rate around 12-15% in spite of a top rate of 39.6%.


Actually their tax rate is really a lot higher. All those dividends taxed
at the 20% capital gains rate were already taxed at the highest corporation
tax rate in the world. 39%. So that makes those double taxed dividends at
about 51%.

Warren says his top to bottom line is 15% so there must be plenty of
loopholes in there. Since Berkshire Hathaway does not produce much, I
doubt he pays much of that 39% either.
After bitching about how low his tax rate is, he still hires the best
accountants money can buy to be sure that rate is as low as it can be.
There is a form he could file and pay more if he really feels so bad
about it but he would rather have the issue than do anything about it.

Jimmy is just a pirate and I am sure he uses Warren's accountant (or
one similarly well skilled) to keep his taxes low.