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

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  •  Taxes versus net worth of $39 Billion (1+ / 0-)
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    Lujane

    Warren Buffett is worth $39 Billion per Wiki. His income of $63 million is 0.16% rate of return.  In other words while his net worth may grow by 10% per year (most years it has been much higher) he only pays taxes on the taxable portion which was only $63 Million.  This is true with most mega rich, their assets may be in real estate which grows in value tax free or in stocks which also grow in value tax free.  Only the tip of the iceberg is taxable!  If his net worth grew by 10% that translates to$3.9 Billion increase in net worth and he paid less than 2 tenths of 1 percent in taxes!

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