Warren Buffett Says You Wouldn't Owe A 'Dime' In Federal Taxes If 800 Companies Paid The IRS Like Berkshire - Hathaway [View all]

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Warren Buffett Says You Wouldn't Owe A 'Dime' In Federal Taxes If 800 Companies Paid The IRS Like Berkshire — And That Includes Social Security Too

https://finance.yahoo.com/news/warren-buffett-says-wouldnt-owe-170106978.html

Berkshire Hathaway, he told the assembled shareholders, sent a check for over $5 billion to the U.S. federal government the previous year. And if just 800 other companies had done the same? “No other person in the United States would have had to pay a dime of federal taxes,” he said. “Whether income taxes, no Social Security taxes, no estate taxes — up and down the line.”

It was the kind of line that makes an arena full of shareholders applaud — not because it was rehearsed, but because it was true.

“We’ll Pay It”
Buffett has long been transparent about how he views the relationship between profitable companies and the government. At the meeting, he framed it in characteristically simple terms. “The federal government owns a part of the earnings of the business we make," he said. "They don’t own the assets, but they own a percentage of the earnings. And they can change that percentage any year.”