'At Berkshire we hope and expect to pay much more in taxes during the next decade,' Buffett said in his annual shareholder letter.
If you want to see Berkshire Hathaway’s corporate income tax bill, here’s a tip from Warren Buffett: Buy an airplane ticket.
That’s a big-sounding sum, but Buffett, Berkshire’s CEO and chairman, knows a picture is worth a thousand words. Or 32 billion in this case. So the “Sage of Omaha” has a visualization exercise to make a point about tax policy, who pays and how much they pay.Next, stack $1 billion in $100 bills “— this is getting exciting! — and the stack reaches about 3⁄4 of a mile into the sky.”
While Buffett has discussed Berkshire’s tax bill in other annual shareholder letters, this year’s imagery comes at a contentious moment for the U.S. tax code. “And that means — brace yourself — had there been roughly 1,000 taxpayers in the U.S. matching Berkshire’s payments, no other businesses nor any of the country’s 131 million households would have needed to pay any taxes to the federal government. Not a dime.”
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