{"id":11142,"date":"2024-05-09T02:00:48","date_gmt":"2024-05-08T23:00:48","guid":{"rendered":"https:\/\/ch.jfdi.cc\/?p=11142"},"modified":"2024-05-09T02:00:48","modified_gmt":"2024-05-08T23:00:48","slug":"u-s-corporate-taxes-likely-to-rise-to-tame-deficit-buffett-says","status":"publish","type":"post","link":"https:\/\/ch.jfdi.cc\/?p=11142","title":{"rendered":"U.S. Corporate Taxes Likely to Rise to Tame Deficit, Buffett Says"},"content":{"rendered":"<p><em>By Josh Wingrove, Amanda Albright and Isis Almeida, Bloomberg News (TNS)<\/em><\/p>\n<p>U.S. taxes are likely to rise as lawmakers look to narrow the federal deficit, Warren Buffett said, as Washington prepares for major tax negotiations next year.<\/p>\n<p>The Berkshire Hathaway chairman and chief executive officer, speaking Saturday at the company\u2019s closely watched annual meeting in Omaha, sidestepped directly commenting on the partisan fight over corporate taxes taking shape. But he said his company will pay whatever the rate is, whether the current 21% or something higher.<\/p>\n<p>\u201cWith present fiscal policies, I think that something has to give,\u201d Buffett said. \u201cHigher taxes are quite likely, and if the government wants to take a greater share of your income or mine or Berkshire\u2019s, they can do it. And they may decide that some day they don\u2019t want the fiscal deficit to be this large.\u201d<\/p>\n<p>Tax changes enacted under then-President Donald Trump in 2017 lowered the corporate rate to 21% from 35%, along with a series of other changes. Those included several tax cuts affecting individual filers that are poised to expire, teeing up talks next year on what changes to make\u2014negotiations that could lead to a change in the corporate rate. President Joe Biden has called for raising the corporate rate to 28%.<\/p>\n<p>Buffett is a longtime advocate for higher taxes on the wealthy, having often said it\u2019s not right that his secretary pays a higher tax rate than he does. He echoed that in his comments Saturday. Berkshire paid more than $5 billion in federal taxes last year, he said.<\/p>\n<p>\u201cAnd if 800 other companies had done the same thing, no other person in the United States would have had to pay a dime,\u201d Buffett said. \u201cIt doesn\u2019t bother me in the least to write that check, and I would really hope with all that America has done for all of you, it shouldn\u2019t bother you that we do it.\u201d<\/p>\n<p>He added that a higher tax rate might soothe any shareholder worried about stock sales Berkshire is making now. \u201cAnd if I\u2019m doing it at 21% this year and we\u2019re doing it at a lot higher percentage later on, I don\u2019t think you\u2019ll actually mind the fact that we sold a little Apple this year,\u201d he said, referring to Berkshire\u2019s largest equity holding.<\/p>\n<p>\u201cWe always hope at Berkshire to pay substantial federal income taxes,\u201d Buffett said. \u201cWe think it\u2019s appropriate.\u201d<\/p>\n<p>______<\/p>\n<p>\u00a92024 Bloomberg L.P. Visit\u00a0bloomberg.com.\u00a0Distributed by Tribune Content Agency LLC.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Warren Buffett predicts that U.S. taxes are likely to rise as lawmakers aim to reduce the federal deficit.<\/p>\n","protected":false},"author":6,"featured_media":11143,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"Default","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[1],"tags":[247,8930,492,5663,3348,325,33,3399,166,9358,6195,5801,988,4055,5217,415,9092,4407,2294,4773,381,756,1346,2788,1864,3331,4843,1670,6106,1026,1065,4507,3358,4556,1183,841,9357,544,4100,3519,4928],"class_list":["post-11142","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-other","tag-apple","tag-berkshire-hathaway","tag-biden","tag-chairman","tag-change","tag-check","tag-companies","tag-corporate-taxes","tag-donald-trump","tag-federal-deficit","tag-federal-income-taxes","tag-federal-taxes","tag-fight","tag-fiscal-deficit","tag-fiscal-policies","tag-government","tag-higher-taxes","tag-hope","tag-income","tag-income-taxes","tag-isis","tag-joe-biden","tag-meeting","tag-mind","tag-negotiations","tag-news","tag-president","tag-president-joe-biden","tag-sales","tag-talks","tag-tax","tag-tax-changes","tag-tax-cuts","tag-tax-rate","tag-taxes","tag-trump","tag-u-s-taxes","tag-united-states","tag-visit","tag-washington","tag-wealthy"],"acf":{"keyphrase":"","keywords":"","sourceimg":"","country-category":""},"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.8 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>U.S. Corporate Taxes Likely to Rise to Tame Deficit, Buffett Says<\/title>\n<meta name=\"description\" content=\"taxes. 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