An Open Letter from IBD to Warren Buffett

There's nice tight writing here by Frank Ryan at Investor's Business Daily to show Warren Buffett why his position on taxes is wrong. Here's a sample:

I would presume that you have also decided to receive dividend income to help reduce your taxable income and thereby your effective tax rate. What your argument fails to mention is that your dividends are paid after taxes paid by the corporation of as much as 33%. The reason that reducing taxes on dividends is necessary is because they are taxed twice previously.

Read the whole thing.

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