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Thursday, August 11, 2016

ICYMI: Warren Buffett's Actual Tax Rate Much Closer To 31%, While His Office Workers Pay 21% - Forbes

By Investigative Project, Oct 23, 2013

In August, 2011, Warren Buffett wrote an opinion piece in the New York Times in which he made the assertion that his 2010 “federal tax rate” of 17.4% was 18.6 percentage points less than the 36.0% average rate paid by the twenty other workers in his office.

Buffett’s piece garnered substantial media attention and, in the months since its publication, his “federal tax rate” assertion has been woven into the fabric of American politics.  His analysis was the basis for the “Buffett Rule,” a tax plan proposed by President Obama that would implement measures under which everyone making more than $1 million in income per year would pay a minimum effective tax rate of 30%.


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