Forum Post: Buffet's effective tax rate = 11%

My favortie 1%er...

http://www.forbes.com/sites/janetnovack/2011/10/12/warren-buffets-effective-federal-income-tax-rate-is-just-11/

Buffett, the founder and CEO of Berkshire Hathaway, has made himself into a poster boy for tax reform by arguing in a New York Times op-ed and elsewhere that he is taxed at a far lower rate than his office staff and by calling for the “super-rich” to be coddled less and taxed more. That, in turn, has led President Barack Obama to call for tax reform to follow a “Buffett rule” —namely that millionaires should pay taxes at a higher rate than their secretaries and plumbers.

The new figures don’t suggest anything untoward on Buffett’s part and, if anything, strengthen his case. Previously, he had said he paid 17.4% of his taxable income to Uncle Sam, including payroll taxes for Medicare and Social Security.