Warren Buffetts Berkshire Hathaway made $29 billion off the Republican tax cuts

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. 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. 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.

That the tax bill would make such an enormous difference for Berkshire Hathaway, which as of 2017 has $702 billion in total assets, is not a surprise: That is largely how it was designed. The bill is most beneficial to corporations, including Berkshire, and the wealthy, particularly the ultra-wealthy, such as Buffett, who according to Forbes has an estimated personal net worth of $86.9 billion.


https://www.vox.com/policy-and-politics/2018/2/24/17048378/warren-buffett-berkshire-hathaway-tax-cuts

This is just totally fucked up, because back in the day when there was a 90% tax rate, he would have still took home 8.6 billion---------------------------"ayn rand" is alive and fucking people over............and paying exactly how much to defense, firefighters, police, parks, roads, bridges, hospitals, etc...................not fucking much......................