REPORT: Buffett actually was taxed twice on his investment income. First, Buffett had to make the money he invested. Those earnings were taxed as corporate income, at about a 35-percent rate. Then, Uncle Sam took another cut when Buffett invested the money and earned a profit. That’s when Buffett paid the 15 percent capital-gains tax rate. All told, after combining corporate taxes and capital gains taxes, Buffett forked over about 45 percent of his earnings.
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