Source: Inequality.org
by Bob Lord
“An income tax rate of over 100% would be hard for anyone to sustain. At a rate a smidge over 100%, our deepest pockets might be able to get by if they drew down their wealth or borrowed against it. But keeping up, year in and year out, with an income tax rate of over 1,000%, 10 times income? That seems, on its face, totally implausible. Yet the Washington, D.C.-based Tax Foundation would have us believe Warren Buffett did just that for at least five years running, all while enormously growing his own personal wealth. This conclusion about Buffett’s tax situation emerges inescapably out of the claims the Tax Foundation makes in a research paper published just after last year’s November election. The paper’s title (‘America’s Super Rich Pay Super Amounts of Taxes, New Treasury Report Finds’) could hardly lay out the Tax Foundation’s case more starkly.” (03/04/25)
https://inequality.org/article/warren-buffett-annual-tax-rate/