- Nov 26, 2011
- 123,587
- 55,673
- 2,290
First, let's flash back to 2011, when Warren Buffett said this:
"Last year my federal tax bill — the income tax I paid, as well as payroll taxes paid by me and on my behalf — was $6,938,744. That sounds like a lot of money. But what I paid was only 17.4 percent of my taxable income — and that’s actually a lower percentage than was paid by any of the other 20 people in our office. Their tax burdens ranged from 33 percent to 41 percent and averaged 36 percent."
Today, Warren Buffett is investing $3 billion in a venture by Burger King to take over a Canadian company, Tim Horton. Burger King is then planning to move its corporate headquarters to Canada for tax purposes.
You have to kind of shake your head when US corporate taxes are higher than Canada's.
Warren Buffet: Tax Dodger.
Burger King Warren Buffett under fire for Canadian inversion deal - LA Times
"Last year my federal tax bill — the income tax I paid, as well as payroll taxes paid by me and on my behalf — was $6,938,744. That sounds like a lot of money. But what I paid was only 17.4 percent of my taxable income — and that’s actually a lower percentage than was paid by any of the other 20 people in our office. Their tax burdens ranged from 33 percent to 41 percent and averaged 36 percent."
Today, Warren Buffett is investing $3 billion in a venture by Burger King to take over a Canadian company, Tim Horton. Burger King is then planning to move its corporate headquarters to Canada for tax purposes.
You have to kind of shake your head when US corporate taxes are higher than Canada's.
Warren Buffet: Tax Dodger.
Burger King Warren Buffett under fire for Canadian inversion deal - LA Times