Warren Buffett's Fellow Billionaires Don't Bite on Million Dollar Tax Challenge

[Modbert]

http://www.cnbc.com/id/21708265/War...es_Don_t_Bite_on_Million_Dollar_Tax_Challenge

In an interview with NBC's Tom Brokaw that aired last week, Buffett took his "I'm not paying enough in taxes, and neither are my fellow billionaires" campaign to a new level, highlighting his contention that he pays a lower tax rate than all of his office employees.

He told Brokaw: "I'll bet a million dollars against any member of the Forbes 400 who challenges me that the average (federal tax rate including income and payroll taxes) for the Forbes 400 will be less than the average of their receptionists."

In its new issue just out, Forbes quotes an email message it received from Buffett (#2 with $52 billion):

"So far only three close friends, all 400 members, have made the calculation for me. They all came up with results similar to mine but have no interest in being identified."

Wonder if anybody else is willing to take up Warren on his challenge.

 

[Revere]

Why should they play games to placate small minds?

 

[Modbert]

Why should they play games to placate small minds?

Clearly you're missing the point about why Warren is doing this.

 

[Big Black Dog]

Why doesn't Warren Buffett just give all of his money to the government and come on down to our level if he thinks he doesn't pay enough taxes.

 

[edthecynic]

http://www.tax.com/taxcom/taxblog.nsf/0971609221721415852572ac0067c130/ed6ea2d2bd49e267852577a80067043b/$FILE/Figure_1.pdf

The number of individual income tax returns showing adjusted gross income of $200,000 or more, but no income tax liability, has been rising rapidly in recent years.
Source: IRS SOI Table 1.4.