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[–] derram 0 points 1 point (+1|-0) ago 

https://archive.fo/r9P2q :

Warren Buffett’s Berkshire Hathaway made $29 billion off the Republican tax cuts - Vox

'Warren Buffett’s multinational conglomerate, Berkshire Hathaway, made an extra $29 billion in 2017 thanks to the Republican tax bill, the billionaire investor said in his annual letter to shareholders released on Saturday. '

'Of the personal benefit the tax cut would give to him, he said, “I don’t think I need a tax cut.” According to the Tax Policy Center’s analysis of the tax bill, the top 0.01 percent of earners would see an average tax reduction of $193,380 in tax savings in 2018. '

'The rest was thanks to the GOP tax cut, passed in December, which dropped the corporate income tax rate to 21 percent from 35 percent. '

'For reference, that’s nearly half of the conglomerate’s entire net gain last year.“A large portion of our gain did not come from anything we accomplished at Berkshire,” Buffett, 87, wrote. '

'Of the $65 billion the company made last year, $36 billion was from its operations. '


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