The Buffet rule, read it and weep edition
[One] reason why we hold Berkshire is because of Buffett's uncanny ability to mitigate Berkshire's tax expenses, particularly Berkshire's cash tax payments. We are aware that this is not to be talked about in polite company especially because Buffett has been pounding the table for higher statutory tax rates. …
We think that Warren Buffett said it best when he said if you can eliminate the government as a (39.6%-46%) business partner, the business will be far more valuable.
How about just eliminating government all together? How will Berkshire do in the state of nature
, do we think. Would roaming marauder business partners cost less?
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