No. His quote was essentially that his secretary pays a higher tax rate than him, not more taxes, two different things. The reason is investment income, such as capital gains, typically has a lower tax rate than W-2 income. It should since you are risking your money. Buffett makes his money from investment income.
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Originally Posted by Topspinmo
Why we have 10,000 plus pages of exemptions for rich, rich law makers lawyers write tax laws so they can get out of paying their fair share. Most famous words for one of richest it world said “ my secretary pays more taxes than me”. His secretary don’t make that mush and don’t have army of tax lawyers getting her out of paying cause she can’t use the exemptions that rich can. Yes, there rich slum lords in villages that gets to deduct any expenses on rentals, but I can’t deduct my new roof I was forced to replace.
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