New Jersey Governor Chris Christie Offers Warren Buffett Some Tax Advice
publication date: Feb 22, 2012
Billionaire investor Warren Buffett, a Democrat, has once again inserted himself into the recent political tax discussions by drawing attention to folks like his secretary paying a higher effective rate of income tax than he is paying.
Buffett fails to mention that much of his income is taxed at a lower rate because it is from long-term capital gains and dividends, which have already been taxed at the corporate level. Buffett also fails to mention how much more in absolute dollars higher income earners pay in taxes.
New Jersey Governor Chris Christie has some advice for Warren Buffett and his desire to pay more income taxes. I'm kind of surprised Buffett doesn't simply make a gift to the U.S. government if he really wants to pay more taxes rather than donating directly to charities which he has chosen to do instead.