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View Diary: BREAKING: Warren Buffett just released his tax return!!! (105 comments)

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  •  What about payroll taxes? (0+ / 0-)

    If you throw in the employer half of payroll taxes (which I had to do when self-employed), that's 15.2% right off the top, no deductions or credits.

    Think many middle-class folks paid 2.2% or less in "income taxes"?

    I always include the employer half of payroll taxes, since I look at it as a part of the compensation.  Looked at that way,  you probably pay ~25% of AGI.  And even if you don't, you probably still paid about the same as Buffet says he paid.

    I am become Man, the destroyer of worlds

    by tle on Wed Oct 12, 2011 at 01:52:58 PM PDT

    [ Parent ]

    •  And if I add Buffett's taxes to mine, (0+ / 0-)

      I pay, like, 1,000,000% of my AGI in tax!  The thing is, though, that I don't pay Buffett's taxes and I don't pay the employer portion of FICA.  So there's no reason to add them to the calc.  W/ my portion of FICA, I pay ~15%, which is still less than Buffett.

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