Warren Buffett was moving into different tax brackets because of how successful his businesses were becoming. He thought the idea of tax paying was good for only those who were not actively working in a higher bracket. That surprised a lot of people, but Buffett knew that giving back to the community should be on a government level.
Warren Buffett did chose to pay his taxes on time to avoid any such penalty that the government would charge his bank account with. Because he went from making millions to billions, Warren Buffet taxes were not your ordinary bill. He didn’t want “plutocracy” to happen due to the fact of all his income.
Buffett paid over 43 million in taxes on the average. That was after he got to the billionaire bracket. Buffett was more concerned with losing his house than losing his business. To other people, he should have been concerned with both. At the time, Buffett didn’t want to worry his family with the issue. But oftentimes, he does have to speak about the tax bracket that he is in because of people wanting to know where all of his tax money is going to.
Warren Buffett chose to directly speak to the United States about investing in gambling. He thought it wasn’t a great idea, but he did see the profit in it. Buffett believed that the tax money should go to other places or businesses that needed help. It didn’t make sense to him as to why the government would rather open a casino than donate money to homeless people.
Warren Buffett did a great job with keeping up with his tax paying responsibilities. He went the extra mile to make sure that the government would consider placing his money into a valuable business. Buffett wanted them to stay away from poor judgments to avoid hazardous situations.