Warren Buffett's Secretary Likely Makes Between $200,000 And $500,000/Year

Forbes ^ | 1/25/2012 | Paul Roderick Gregory

[grundle]

Warren Buffet’s secretary, Debbie Bosanek, served as a stage prop for President Obama’s State of the Union speech. She was the President’s chief display of the alleged unfairness of our tax system – a little person paying a higher tax rate than her billionaire boss.

Bosanek’s prominent role in Obama’s “fairness” campaign piqued my curiosity, and I imagine the curiosity of others. How much does her boss pay this downtrodden woman? So far, no one has volunteered this information.

The IRS publishes detailed tax tables by income level. The latest results are for 2009. They show that taxpayers earning an adjusted gross income between $100,000 and $200,000 pay an average rate of twelve percent. This is below Buffet’s rate; so she must earn more than that. Taxpayers earning adjusted gross incomes of $200,000 to $500,000, pay an average tax rate of nineteen percent. Therefore Buffet must pay Debbie Bosanke a salary above two hundred thousand.

I have nothing against Debbie Bosanke earning a half million or even more. Buffet is a major player in the world economy. His secretary deserves good compensation. At her income, however, she is scarcely the symbol of injustice that Obama wishes her to project.

[arista]

When you make your money from capital gains and dividends, yes you are paying a rate of 15% . Yes, this is lower than the income plus payroll tax rate for people earning $50,000+. However, you have to keep in mind that earnings from capital gains and dividends only come from AFTER-TAX corporate profits. Corporations are subject to the 35% tax. What’s left over belongs to the shareholders who then have to pay 15% on whatever they get. So Buffet’s effective tax rate is really more like 45% because those earnings are being taxed twice.

On the other hand, normal wages are paid out of PRE-TAX corporate profits, so those earnings are only taxed once.

This point needs to get out there more often.

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[hinckley buzzard]

She looked pretty healthy to me. Hasn't missed any meals either.

[pieceofthepuzzle]

If true this should be hung around Obama’s neck to further document the shallowness of his message.

[dennisw]

Debbie Bosanke>>>>>

How much Berkshire Hathaway stock does she own that she gets income from? And what is this income taxed at? Has the stock gone up so she has some unrealized capital gains?

[jmax]

As a democrat political operative personally involved in the obama campaign, I think the FEC should require her to reveal a copy of her income taxes.

s/off

[Argus]

I demand that this woman release her tax returns so we can see for ourselves.

[tet68]

I was thinking about this last night, this is not some
girl from the steno pool, she has responsiblility and
is paid well for it, not to mention the benefits and
the CONTACTS.

[pyx]

Here's a relevant question;

When this article in the Washington Times appeared, did Warren Buffett have the same secretary ? Is this the same Warren Buffet whom President Obama likes to cite as a fair-minded billionaire while arguing for higher taxes ..., stands to benefit from the president’s decision to reject the Keystone XL oil pipeline permit.

Surprise, surprise, surprise ! It just might be the same Warren Buffet.

[4rcane]

buffet should pay his secretary more if he’s concerned of injustice.

[DainBramage]

More than the President of the United States. More a two senators combined.

[LauraJean]

That’s how my husband, a CPA explained it to me.

[Mr Ramsbotham]

I don’t know about anyone else, but I’d rather have my rates lowered to make things fair.

[dennisw]

This Obama voting secretary has been working at Berkshire Hathaway since she was 17 years old. She looks about 45-50 so she undoubtedly owns a nice amount of Berkshire Hathaway shares since she is Buffets Secretary. So what is her yearly income from these shares and does she hold on to them to realize those evil capital gains?

She should show us her tax returns or shut up.

[YankeeReb]

I don’t know about anyone else, but I’d rather have my rates lowered to make things fair.

Seems to me a 15% flat tax with all $$$ up to the amount of the national poverty level being exempt from all taxes, would solve the phoney "fairness" issue quite nicely. Simple, logical and you don't need more than 60K pages of code to explain it. That's why it'll never happen.

Everytime these progressive snake oil salesmen carve out exemptions for certain classes or groups, some bright tax lawyer figures a way to avoid it or turn it to his advantage. So, you end up with more regulations on top of the original. Before long you have a tax code that the government can use to make up the rules as you go along. That's the point we're at now.

[bigbob]

dangit, now we’re gonna have threads about Secretary Envy in addition to just Rich People Envy!

[loveliberty2]

Now that she has allowed herself to be “used” by the Obama campaign, what are her perks and reporting obligations?

[Freee-dame]

Before long you have a tax code that the government can use to make up the rules as you go along.

The ability to tax, or excuse from taxes, is where the real power of Congressmen and Presidents come from. The amount of money in campaign donations pales in comparison to the amount that does or doesn't come in as taxes.

[muawiyah]

Let’s use some common sense here. If Buffett wanted to he could pay her in STOCK. She could sell that and pay 15% on the proceeds.