Byron Dorgan: “It reads: Let me, as a member of that non-endangered species, give you an example of how the scales are currently…”

“It reads: Let me, as a member of that non-endangered species, give you an example of how the scales are currently balanced. He means with the Tax Code. Again, this is the second richest man in the world. The taxes I pay to the federal government, including the payroll tax that is paid for me by my employer, Berkshire Hathaway, are roughly the same proportion of my income--about 30 percent--as that paid by the receptionist in our office. My case is not atypical--my earnings, like those of many rich people, are a mix of capital gains and ordinary income--nor is it affected by tax shelters (I've never used any). As it works out, I pay a somewhat higher rate for my combination of salary, investment and capital gains income than our receptionist does. But she pays a far higher portion of her income in payroll taxes than I do. His point is that he and the receptionist pay about the same percentage of their income. Understand, this is the second richest man in the world and his receptionist in his office. Then he says: Now the Senate says that dividends should be tax-free to recipients. Suppose this measure goes through and the directors of Berkshire Hathaway (which does not now pay a dividend) therefore decide to pay $1 billion in dividends next year. Owning 31 percent of Berkshire, I would receive $310 million in additional income, owe not another dime in federal tax, and see my tax rate plunge to 3 percent. And our receptionist?…”