Wednesday, January 25, 2012

Why doesn't he pay her in stock so she too can pay cap gains tax?

Despite Unfair Tax Burden, Warren Buffett's Secretary Was Just Able To Buy A Second Home


Despite a heavy tax burden, Warren Buffett’s secretary last year was able to purchase a second home in Arizona, a residence complete with a swimming pool and a “professional PGA putting green,” according to real estate records.

Debra Bosanek, 55, and her husband Gerald bought the 2100-square-foot home in Surprise, a city outside Phoenix. The Bosaneks paid $144,000 for the four-bedroom, two-and-a-half bath property (the purchase was financed, in part, by a $115,200 mortgage).

The principal Bosanek residence is in Bellevue, Nebraska, several miles from Buffett’s corporate headquarters in Omaha. The couple’s 2568-square-foot home, built in 2000, also has four bedrooms and two-and-a-half baths. But the modest property, which Sarpy County assessors last year valued at $217,716, offers no outdoor amenities for swimmers or golfers.

Bosanek, who last night attended the State of the Union speech, has become the face of President Barack Obama’s so-called Buffett Rule, which contends that the secretary of a wealthy individual should not pay a higher tax rate than their boss.

Before Obama people were invited to sit in the family box at the SOTU speech because they were being honored for some heroic achievement. But, Obama has cheapened that for political gain. What a guy.

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