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Buffett said he makes $46 million a year in income and is only taxed
at a 17.7 percent rate on his federal income taxes. By contrast, those who work for him, and make considerably less, pay on
average about 32.9 percent in taxes - with the highest rate being 39.7 percent. To emphasize his point, Buffett offered $1 million
to the audience member who could show that one of the nation's wealthiest individuals pays a higher tax rate than one
of their subordinates. "I'm
willing to bet anyone in this room $1 million that those rates are less than the secretary has to pay," said Buffett. ================================================== Below are examples of two typical Bay Area Engineer families'
income tax returns after the tax planning strategy implementation.
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