Warren Buffett On Billionaires

18.08.11 | warren buffettaxesdebt ceilingcharlie rosebillionairesincome taxpayroll taxcapital gainsdodd-frank

“If you make money with money, you get taxed at very low rates-15% dividends and capital gains, no payroll tax. If you make money with muscle or hard work or sweat of your brow, you get taxed at rates that move on up. Most of the people, middle class gets taxed at rates of either 15% or 25% on their income tax but then they get extremely hit hard on the payroll tax, and that’s what brings the rates in our office up to an average of 36%, if you leave me out.” –Warren Buffett on Charlie Rose 8/15/11