Tax doesn’t have to be taxing

Amidst all the UK debate about businesses paying (or avoiding) tax, it was the 50th anniversary of Warren Buffett taking over as manager of Berkshire Hathaway. I was reminded of this quote from the 1998/99 annual letter to shareholders:

“Writing checks to the IRS that include strings of zeros does not bother Charlie or me. Berkshire as a corporation, and we as individuals, have prospered in America as would in no other country. Indeed, if we lived in some other part of the world and completely escaped taxes, I’m sure we be worse off financially (and in many other ways as well).”

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