Re:Why the (US) Rich Are Getting Richer
by rbranson on Tuesday January 11, 2011 @04:58PM
(#2093729)
To be honest, probably nothing. Rich people are pretty much pros at operating tax shelters, which explains the famous Buffet quote about how he pays a lower tax rate than his secretary.
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Re:Why the (US) Rich Are Getting Richer
by boredguy8 on Tuesday January 11, 2011 @05:16PM
(#2093810)
No, it's better/worse than that. Long-term capital gains (held more than one year) are taxed at 15% for someone like Buffet. He paid a lower rate (17.7% combined short-term and long-term) on taxes than his secretary without trying to avoid taxes.