WARREN BUFFETT TELLS GROVER NORQUIST: Here's The Thing You Don't Get About Business And Taxes
Warren Buffett is out with a NYT op-ed calling for a minimum tax on the rich.
We'll get to his specifics in a second, but the part that will get the most attention is his intro, where he calls out Grover Norquist, the powerful activist who gets Republicans to "pledge" that they'll never raise taxes.
Buffett writes that what Norquist doesn't get is that no businessman would ever turn down a good, profitable deal due to tax rates.
SUPPOSE that an investor you admire and trust comes to you with an investment idea. “This is a good one,” he says enthusiastically. “I’m in it, and I think you should be, too.”
Would your reply possibly be this? “Well, it all depends on what my tax rate will be on the gain you’re saying we’re going to make. If the taxes are too high, I would rather leave the money in my savings account, earning a quarter of 1 percent.” Only in Grover Norquist’s imagination does such a response exist.
Read more: http://www.businessinsider.com/warren-buffett-calls-out-grover-norquist-on-taxes-2012-11#ixzz2DLytx5wM
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