Salient to Investors:
- Warren Buffett disagrees with the importance of taxes and for some investors he is surely correct.
- Millions of people, including perceptive investors, are currently putting their money in accounts that pay around “a quarter of 1 percent” because the expected after-tax income adjusted for risk on alternative investments is too low.
- US bankers are holding $1.418 trillion in excess reserves that they are not required to hold because they prefer a risk-free quarter of 1 percent from the Federal Reserve.
Read the full article at http://www.huffingtonpost.com/robert-auerbach/warren-buffetts-tax-confu_b_2287905.html?utm_hp_ref=business