He cited a longstanding Berkshire Hathaway policy of not interfering in how its subsidiaries are run beyond choosing the CEO, in this case Mark Donegan.
Buffett said he would pass on Sanders' message but would make no recommendation for how Donegan should proceed. "He is responsible for his business," Buffett wrote., and also noting his huge wealth.Sanders wrote: "Warren Buffett is a billionaire worth over $100 BILLION with a tax rate of just 0.10%. "He's spoken eloquently on the crisis of growing inequality. But why doesn't he want to make sure the steelworkers of Special Metals are treated with dignity and respect?"Sanders did not address Buffett's stated reason that he wouldn't intervene because of Berkshire Hathaway's ownership style.as part of an investigation into how the super-wealthy avoid tax.
Per its calculations, the $27.3 million tax he paid on his personal income between 2014 and 2018 was only 0.1% of the amount his total wealth grew in the same period, some $24.3 billion., Buffett's increases in net worth do not attract tax because they mostly come in the form of Berkshire Hathaway stock gaining value.
The company doesn't pay dividends and instead reinvests, which does not attract tax. Buffett defended the arrangement by noting that most of his wealth is due to eventually be given away.
Yet BernieSanders has been living off taxpayers money all his life! Imagine that
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Source: CNBC - 🏆 12. / 72 Read more »