Night Of The Guilty Plutocrat
One last horror story before Halloween's up. Warren Buffett, the world's third richest man, is complaining that his taxes are too low:
Let's be very clear. Buffett's income is derived almost exclusively from dividends and interest on his substantial investments---he's not living on the nominal W-2 paystub he pulls.
Under the 2003 Bush tax cuts, dividend income is taxed at 15% for everybody----that's why his tax rate is 17.7%. These capital-related cuts have been the only reason the US economy and stock market have been so resilient since certain market dislocations in 2001.
So to hell with Warren Buffett and his guilt.
UPDATE: Welcome, Instapundit readers and thanks, Glenn! Here's another millionaire with a plan.
UPDATE: Off topic, but have you seen my pal's Weblog 2007 Best New Blog Nominee, Nice Deb? You should!

















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