WARREN BUFFET/ NO ONE WOULD HAVE TO PAY TAXES
Warren Buffett
At the 2024 Berkshire Hathaway Annual Meeting, billionaire investor Warren Buffett made headlines with a bold claim about corporate taxes. Noting Berkshire Hathaway’s significant federal tax contributions, Buffett suggested that if 800 other companies matched Berkshire’s federal tax payments, “no other person in the United States would have had to pay a dime of federal taxes-no income taxes, no social security taxes, no estate taxes.”
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Buffett explained that in 2023, Berkshire sent over $5 billion in federal taxes to the U.S. government. He emphasized that his company and its shareholders feel a responsibility to contribute to the country’s economy, particularly because the U.S. system has provided many opportunities and advantages.
“We always hope at Berkshire to pay substantial federal income taxes,” Buffett said, adding that he feels it’s appropriate for the company to contribute this way.