Warren Buffett Says You Wouldn't Owe A 'Dime' In Federal Taxes If 800 Companies Paid The IRS Like Berkshire — And That Includes Social Security Too

Core Viewpoint - Warren Buffett emphasizes the importance of corporate taxation and expresses a willingness to pay higher taxes, highlighting that a significant contribution from profitable companies could eliminate federal tax burdens for individuals [2][3][4]. Group 1: Corporate Tax Contributions - Berkshire Hathaway sent over $5 billion to the U.S. federal government in the previous year, suggesting that if 800 other companies matched this contribution, no individual in the U.S. would have to pay federal taxes [3]. - Buffett articulated that the federal government owns a percentage of business earnings, which can change annually, reinforcing the idea that taxation is a shared responsibility between profitable companies and the government [4]. Group 2: Future Tax Expectations - The current corporate tax rate is 21%, established by the 2017 Tax Cuts and Jobs Act, but Buffett anticipates that this rate may increase due to the growing national deficit and limited political appetite for spending cuts [4]. - Buffett's response to potential tax increases is one of acceptance, stating, "We'll pay it," indicating a straightforward approach to taxation without seeking loopholes or restructuring [4].