[00:01] year. We sent in over $5 billion to the US federal government. same thing, person in the United States would have had to pay
[00:14] a dime of federal taxes, whether income taxes, no social security taxes, no estate taxes. No, it doesn't bother me in the least uh to write that check. And uh
[00:29] America's done for all of you, shouldn't bother you that we do it. So, Warren Buffett just said that if 800 companies paid tax in the same way that his company, Berkshire Hathaway, does, that no person in the United States
[00:44] would have to pay income tax, estate tax, social security tax, none of that. This sounds incredible. Honestly, I like the idea of this. So, I looked into it a little bit. What I found is that Buffett is being theoretical here. He's not
[00:58] referring to 800 specific companies. He's just saying, in theory, this could happen. But, I started digging into this a little bit and found this little gem from the Institute on Taxes and Economic Policy. Their analysis shows that there
[01:10] are 88 companies in this country that brought in a combined $105 billion in brought in a combined $105 billion in profit and yet still paid zero federal income tax. These are companies like 3M, Tesla, Citigroup, United Airlines,
[01:26] Southwest Airlines, Palantir. Some of the biggest and most profitable countries in the whole country paying zero tax. Which means that I, Dave Meyer, me, and you, paid more federal income tax than Walt Disney Corporation,
[01:41] which had 8.3 billion dollars of income last year. Now, I'm not saying these companies are doing anything illegal. They are using the tax code in creative that doesn't mean it feels right that I
[01:55] am individually paying more tax than 88 corporations that made over a hundred think? Do you think we should be shifting more of the tax burden onto corporations and away from individuals? Let me know in the comments.