For the majority of his life, until the Tax Reform Act of 1986, Warren Buffet's "tax skirting" still meant paying more than 25% rates on his income. Effective

For the majority of his life, until the Tax Reform Act of 1986, Warren Buffet's "tax skirting" still meant paying more than 25% rates on his income. Effective tax rates (accounting for inflation) now are lower than they were at any time since 1913 (i.e., since we've had income taxes).