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Buffet’s Tax Return

A few weeks ago Warren Buffet made the comment that his tax rate was lower than the rate his secretary pays. This, of course, caused all kinds of commentaries and articles. For those of you following this, Warren Buffet agreed to release his income tax information. While it doesn’t really affect any of us I thought some of you might find it interesting. According to his tax return he made $62,855,038 last year. His taxable income was $39,814,784 and he paid $6.9 million in Federal income taxes, or 17.4% of his entire taxable income.