you know warren buffett complains all the time say doesn't pay enough taxes
it
yep although first of all i'll tell ya ought to let you know a little secret
he's lying
warren buffett when he talks about the fact that he doesn't pay taxes
less than one percent of his income
is earned as an individual
less than one percent
ninety nine plus percent of his money is burned through his corporation berkshire
hathaway
warren buffett owns a third of the stock
they pay thirty five percent tax
they pay billions of dollars a year in taxes
that's towards money
as part of it as is
so heat shield is is to pay a
through his corporation
and of course at the corporation does pay a dividend to warren buffett
he pays another fifteen percent tax on that
so israel tax rate is fifty percent
so when he says he's only paying fifty percent he's pay less in the secretary
he's lying
and in fact when he says he wants to pay more taxes
he's lying about that too
more involved than
warren buffett pace himself the salary
a five hundred thousand dollars a year
that's less than a salary i'd pay myself
he's a billionaire
wide as warren buffett work so cheap
as he does a lot of greater taxes
if warren buffett paid himself a_p_ salary
he would have to pay a allot of money in taxes on it like i did he would have to
pay thirty five percent federal any doubt that paid-up i'm not sure what the
taxes are tomas we have to pay those he have to pay the medicare tax right all
those taxes
so he doesn't do that
he leaves it in the company where he owns a third of it
and get this he's actually lots more
work berkshire hathaway trays at twenty times earnings
recipe
so every dollar
that warren buffett doesn't pay himself and salary ants twenty dollars to the
value of berkshire hathaway stock
now if he owns a third of that
that seven dollars for war
so if he doesn't pay in some of the dollar he seven dollars richer
and now when he sells that stock
guess what is tax rate is
fifteen percent
right so warren buffett is going out of his way to arrange his
incom
to minimize his taxes
then he goes in crises not paying enough taxes
anyone succumbing to raise up he can raises taxes anytime you want
display himself a salary
or just write a check
to the government
back to what i really want to talk about
but warrant lauren might not be
the best the contrast
any might not be that's at the end politics
please obviously a good businessmen
he's made a lot of money he's run a lot of company successfully
who do you want
to have warns money warren
or brock obama
i think what did you get it would have put more money into another celinda
getting more involved it would have possibly in the stock
etc warren buffett has all this money to characterize a pickup truck
he lives in a little house
i mean he's not an extravagant died
now when these people say we need to raise taxes we know we can't let the
rich
have a consumption tax right because
then they're not gonna pay taxes costar only gonna pay taxes
on my respect
well yeah
because that's the only money that benefits them
see if warren buffet is burning
hundreds of millions of dollars a year and he's ready and it was the housing
her
if he spent it all that he would pay abhi disruption tax
but at the only spends a little bit of it
in what is he doing with the money that he's not enjoying
well he's using it to grow his business
he's going he caught
why should the government tax that money
seat bailey say we need to tax
we have what i have a tax cut right to stimulate the economy sable we to cut
taxes on the middle class
because they'll spend all that much
c we cut taxes on the reds well they won't spend
they'll invest it
they'll grow the economy they'll create jobs they'll create products
that's what we what
we all want to tax savings we want a tax spending cuts spending as we grow the
economy
spending is the consequence of a growing economy you have to grow it
you have to produce it before you consume it