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Subject:  Re: Is your 401(k) Inadequate For Retirement Date:  7/31/2008  5:48 PM
Author:  fleg9bo Number:  13765 of 20640

Warren Buffett seems to agree. In his annual letter to share owners, he mentioned that his secretary pays a higher percent of her earnings as taxes than he does.

No doubt Warren pays a lot of his taxes at the 15% rate for long-term capital gains and dividends. And he should pay the lower rate because the economic activity that generated the dividends and gains has created a lot of jobs and a lot of wealth for a lot of people (Berkshire shareholders). This kind of behavior should be encouraged so we get more of it. In fact, if it weren't for the stuff Buffet has done, his secretary wouldn't have a job.

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