No. of Recommendations: 3
So… don’t pay taxes when it’s earned, and don’t pay taxes on it later either?
I wonder if these are the same Congressmen complaining abut the deficit.
The idea behind such legislation being that many seniors today with sizable retirement accounts don’t need to drawdown as much to survive, so there are calls by many to at least reduce, if not eliminate, mandatory RMDs to help with the taxation burden, which ostensibly is probably why the age for when mandatory RMDs kick has been incrementally rising in recent years, now at 73 for those born in my age bracket.
Obviously, one cannot avoid taxes indefinitely. I understand that. Death and inheritance taxes will get you at some point, but deferring tax can also be a sound estate planning tool, especially if the idea is to achieve a step up basis for heirs, or in my case, leaving virtually my entire estate to charity. Philanthropy, as a social remedy to help give back to the needs of others, in lieu of taxation, can arguably be a better tool to address these needs than surrendering to the onerous inefficiencies of government taxation.
(Actually, Warren says he enjoys paying US tax. That he wouldn't have had the same opportunities in other countries. So, the price of admission.)………… So, maybe it's better to pay a lot of tax, because that means you're doing well.
Yeah, but I'm not Warren. It’s easy to enjoy paying tax at his level — I am still not at his pinnacle of success. There is always a catastrophic medical event or litigious event lurking around the corner that can bankrupt any one of us at any time during our lifetimes, so it is comforting to know that you have enough financial wherewithal to endure that hardship. Retaining as as much as possible by paying no more and no less than what we are legally obliged to pay through taxation is consistent with that goal.
Also, see above. The alternative is to defer or minimize taxes to the maximum extent possible, and instead return those fruits to where they can serve a whole panoply of organizations dedicated to societal need, and probably more efficiently too.
Going back to the OP’s original question, who on this board agrees with Ms Decker and supports a possible Berkshire dividend and why?
