Posted on 11/30/2012 1:36:13 PM PST by WilliamIII
Let’s pause for a moment. There seventy thousand pages of tax code on the books...existing for almost a hundred years now, and at least 100k people have contributed to the writings of the current US federal tax code since it’s inception. What we have is a apple pie recipe that has been ruined, and has 2k pages of instructions on how to make a 12-step pie.
Buffett likely participated in various lines of the current tax code and probably saves $300 million a year because of his efforts. He may feel guilty about what happened, but face it....it’s done on a yearly basis.
If you go back and do the research....Ted Kennedy was the king of writing tax code for trust funds. There are thousands of trust funds in the US that benefited from his efforts over the years.
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