Warren Buffet not only pays for his own Medicare, he also pays for that of thousands of others including his secretary when she retires.
Yes
Actually Buffett paid only $15,300 in payroll taxes which includes social security and medicare. This is because almost all of his income is unearned investment income not subject to social security or medicare taxation.
Exactly. Unlike Social Security, there is no income cap on medicare taxes. But everybody gets the same Medicare benefit.
i am under the impression Buffett and others opted out of Medicare ... never signed up. self-insured.
His earnings are unrealized capital gains. Tax rate is 0%.
so raising rates doesn’t raise his taxes.