Billionaires, billionaire Warren Buffett charged last summer. pay taxes at lower tax rates than their receptionists. Oh no they don’t, pushed back billionaire Stephen Schwarzman, who claimed to pay 36 percent of his income in federal taxes. Harrumphed Schwarzman, chairman of the world’s largest private equity company: “I’m not feeling undertaxed.” He’s also apparently not feeling too confident about his tax claims. Last week, the Wall Street Journal revealed that Blackstone, Schwarzman’s private equity company, is reducing its financial stake in a Florida bank simply to avoid having to publicly disclose Schwarzman’s personal financial info to the Securities and Exchange Commission, the federal watchdog agency over Wall Street.
1. Billionaires do pay taxes at lower tax rates than their receptionists.
This is TRUE. My 1st husband (who is fairly wealthy) pays a lower rate than I do. (I'm just an ordinary middle class woman).
About 10 years ago we met for coffee, and the subject came up (it wasn't a political discussion - he was just nosy and wanted to know how I was doing financially). I asked him why that was, and he responded that it was "just the way it is." And no, he doesn't think it's right, but he does think that life is not fair, and too bad for me, an attitude which reflects why we're no longer together.