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To be honest, probably nothing. Rich people are pretty much pros at operating tax shelters, which explains the famous Buffet quote about how he pays a lower tax
by rbranson 16y ago
To be honest, probably nothing. Rich people are pretty much pros at operating tax shelters, which explains the famous Buffet quote about how he pays a lower tax rate than his secretary.
- boredguy8 16y agoNo, it's better/worse than that. Long-term capital gains (held more than one year) are taxed at 15% for someone like Buffet. He paid a lower rate (17.7% combined short-term and long-term) on taxes than his secretary without trying to avoid taxes.