[{"data":1,"prerenderedAt":1620},["ShallowReactive",2],{"library-ba-fei-te-2003nian-gu-xi-wu-shu":3,"library-sidebar-buffett":83,"library-sidebar-dao":1086,"library-sidebar-models":1388},{"id":4,"title":5,"body":6,"category":69,"date":70,"description":71,"extension":72,"meta":73,"navigation":74,"order":75,"path":76,"seo":77,"seoDescription":71,"seoTitle":78,"slug":79,"stem":80,"__hash__":81,"_collection":82},"buffett\u002Fbuffett\u002Finterview\u002Fba-fei-te-2003nian-gu-xi-wu-shu.md","巴菲特：2003年股息巫术",{"type":7,"value":8,"toc":64},"minimark",[9,13,18,22,25,28,31,34,37,40,43,46,49,52,55,61],[10,11,5],"h1",{"id":12},"巴菲特2003年股息巫术",[14,15,17],"h2",{"id":16},"巴菲特股息巫术2003","巴菲特：股息巫术2003",[19,20,21],"p",{},"2003 年5 月20 日 《华盛顿邮报》A19 版",[19,23,24],{},"年度福布斯400 富豪榜表明，除了偶尔出现少数变动，富人确实越来越富有了。尽管如此，参议院上周投票决定为富人积累更多财富提供更多帮助。参议院决定，个人获得的股息应在2003 年免税50%，2004-2006 年100%免税，然后在2007 年再全额征税。参议院在设计这些\"之\"字形税制时所表现出的思维灵活性令人叹为观止。不过，参议院所做的努力也是显而易见的：如果这些修改获得通过，税收的天平将进一步向富人倾斜。",[19,26,27],{},"作为非濒危物种的一员，请允许我举例说明目前的天平是如何平衡的。我向联邦政府缴纳的税款，包括我的雇主伯克希尔哈撒韦公司为我缴纳的工资税，约占我收入的比例约30%，与我们办公室接待员缴纳的税款比例大致相同。我的情况并非特例，跟许多富人一样，我的收入是资本利得和普通收入的混合体，我也没有受到避税措施的影响，而且我从未使用过避税措施。因此，我的工资、投资和资本利得收入的税率要比我们的接待员略高一些。但她缴纳的工资税占收入的比例要比我高得多。",[19,29,30],{},"她并没有抱怨：我们都知道，我们很幸运出生在美国。但我更幸运的是，我一出生就具备资本配置的天赋，在过去的半个世纪里，这是我在这个国家所拥有的宝贵能力。这种价值大部分归功于美国，而不是我。如果我和这位接待员都出生在孟加拉国，情况就会大不相同。在那里，我们各自才能的市场价值并没有太大差异。",[19,32,33],{},"现在参议院表示，股息领取者应免税。假设这项措施获得通过，伯克希尔哈撒韦公司(现在不分红)的董事们因此决定明年分红10 亿美元。我持有伯克希尔31%的股份，将获得3.1 亿美元的额外收入，不需要再缴纳一毛钱的联邦税，我的税率将下降到3%。而我们的接待员呢？她仍需缴纳约30%的税款，这意味着她为政府反恐、发动战争和养老等方面活动所缴纳的税款比例约为我的10 倍。让我再说一遍：她的总体联邦税率将是我的10 倍。",[19,35,36],{},"在我年轻的时候，肯尼迪总统曾要求美国人为我们的国家\"付出任何代价，承担任何负担\"。面对这一挑战，如果伯克希尔的股息免税，我将支付的3%的联邦总税率似乎有点低。政府官员说，我钱包里突然多出的3.1 亿美元会刺激经济，因为我会将这笔钱用于投资，从而创造就业机会。但他们很容易就忘记了，如果伯克希尔留着这笔钱，它也会投资同样的金额，从而创造就业机会。",[19,38,39],{},"参议院的计划邀请公司(实际上是命令它们)在很大程度上扭曲它们的行为。如果该计划得以实施，股东们就会理所当然地要求他们所拥有的公司在2003 年不再支付股息，因为2003 年的股息将被部分征税，而在2004 年支付这些暂停的股息，因为2004 年的股息将被免税。同样在2006 年，即该计划的最后一年，公司应支付正常股息的两倍，然后在2007 年完全避免支付股息。",[19,41,42],{},"总之，很难想象还有什么比参议院制定的时间表更愚蠢的了。事实上，老布什总统就给这类活动起了个名字：\"巫术经济学\"(voodoo economics)。操纵税制改革的颁布和结束日期是安然式的会计，而最近要求公司公布诚实数字的国会，现在应该认真审视自己的做法。",[19,44,45],{},"削减股息税率的支持者认为，此举将刺激经济。当然，由于目前政府巨额且不断增长的赤字，大量的刺激措施应该已经在路上了。对于是否有必要在这方面采取更多行动，我没有强烈的观点。",[19,47,48],{},"但如果是这样的话，就不要对直接持有大量股票的人减税。通过401(k)持有股票的小额投资者已经享受到了税收优惠。相反，应该给那些既需要又愿意花钱的人减税。颁布一个社会保障税\"免税期\"，或为低收入人群提供固定金额的退税。向31 万个急需资金的家庭发放1000 美元，其对经济的刺激作用远远大于向我发放同样的3.1 亿美元。",[19,50,51],{},"当你听到减税的言论时，请记住，给某一类纳税人\"减税\"，现在或以后其他人就必须增加同等的负担。换句话说，如果我得到了减税，其他人就要付出相应的代价。政府无法为整个国家提供免费午餐。但是，它可以决定由谁来为午餐费买单。上周，参议院把该法案交给了错误的一方。",[19,53,54],{},"股息免税的支持者喜欢把批评者说成是阶级斗争的鼓吹者。但事实是，对我的阶级而言，他们的建议促进了阶级福利。",[56,57,58],"blockquote",{},[19,59,60],{},"沃伦巴菲特是多元化控股集团伯克希尔哈撒韦公司的CEO，也是《华盛顿邮报》公司的董事，该公司持有伯克希尔股份。©2003 年《华盛顿邮报》公司",[62,63],"hr",{},{"title":65,"searchDepth":66,"depth":66,"links":67},"",2,[68],{"id":16,"depth":66,"text":17},"访谈与文章",null,"巴菲特在《华盛顿邮报》撰文，批评参议院取消股息税的提案，警告财富集中加剧与社会不公。","md",{},true,49,"\u002Fbuffett\u002Finterview\u002Fba-fei-te-2003nian-gu-xi-wu-shu",{"title":5,"description":71},"巴菲特：2003年股息巫术｜巴菲特","ba-fei-te-2003nian-gu-xi-wu-shu","buffett\u002Finterview\u002Fba-fei-te-2003nian-gu-xi-wu-shu","fyY0gVmImf9DXie0FBDJNPSEdcjULGJIgMwU4uSdNWs","buffett",[84,89,92,96,99,102,105,109,112,115,119,122,125,129,132,135,139,142,145,149,152,155,159,162,165,169,172,175,179,182,185,189,192,195,199,202,205,209,212,215,219,222,225,229,232,235,239,242,245,249,252,255,259,262,265,270,273,276,280,283,286,290,293,296,300,303,306,310,313,316,320,323,326,330,333,336,340,343,346,350,353,356,360,363,366,370,373,376,380,383,386,390,393,396,400,403,406,410,413,416,420,423,427,430,434,437,441,444,448,451,455,458,462,465,469,472,476,479,483,486,490,493,497,500,504,507,511,514,518,521,524,525,529,532,536,539,543,546,550,553,557,560,564,567,571,574,578,581,585,588,592,595,599,602,606,609,613,616,620,623,627,630,634,637,641,644,648,651,655,658,662,665,669,672,676,679,683,686,690,693,697,700,704,707,711,714,718,721,725,728,732,735,739,742,746,749,753,756,760,763,767,770,774,777,781,784,788,791,795,798,802,805,809,812,816,819,823,826,830,833,837,840,844,847,851,854,858,861,865,868,872,875,879,882,886,890,894,898,902,906,910,914,918,922,926,930,934,938,942,946,950,954,958,962,966,970,974,978,982,986,990,994,998,1002,1006,1010,1014,1018,1022,1026,1030,1034,1038,1042,1046,1050,1054,1058,1062,1066,1070,1074,1078,1082],{"title":85,"slug":86,"category":87,"order":88},"1956 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巴菲特致合伙人信","1960-ba-fei-te-zhi-he-huo-ren-xin",5,{"title":130,"slug":131,"category":69,"order":128},"巴菲特：1972年巴菲特谈喜诗糖果","ba-fei-te-1972nian-ba-fei-te-tan-xi-shi-tang-guo",{"title":133,"slug":134,"category":95,"order":128},"1998年伯克希尔股东大会","1998nian-bo-ke-xi-er-gu-dong-da-hui",{"title":136,"slug":137,"category":87,"order":138},"1961 巴菲特致合伙人信","1961-ba-fei-te-zhi-he-huo-ren-xin",6,{"title":140,"slug":141,"category":69,"order":138},"巴菲特：1974年击球啊,你这个笨蛋","ba-fei-te-1974nian-ji-qiu-a-ni-zhe-ge-ben-dan",{"title":143,"slug":144,"category":95,"order":138},"1999年伯克希尔股东大会","1999nian-bo-ke-xi-er-gu-dong-da-hui",{"title":146,"slug":147,"category":87,"order":148},"1961年中 巴菲特致合伙人信","1961nian-zhong-ba-fei-te-zhi-he-huo-ren-xin",7,{"title":150,"slug":151,"category":69,"order":148},"巴菲特：1976年巴菲特谈GEICO","ba-fei-te-1976nian-ba-fei-te-tan-geico",{"title":153,"slug":154,"category":95,"order":148},"2000年伯克希尔股东大会","2000nian-bo-ke-xi-er-gu-dong-da-hui",{"title":156,"slug":157,"category":87,"order":158},"1962 巴菲特致合伙人信","1962-ba-fei-te-zhi-he-huo-ren-xin",8,{"title":160,"slug":161,"category":69,"order":158},"巴菲特：1976年怀念恩师格雷厄姆","ba-fei-te-1976nian-huai-nian-en-shi-ge-lei-e-mu",{"title":163,"slug":164,"category":95,"order":158},"2001年伯克希尔股东大会","2001nian-bo-ke-xi-er-gu-dong-da-hui",{"title":166,"slug":167,"category":87,"order":168},"1962年11月 巴菲特致合伙人信","1962nian-11yue-ba-fei-te-zhi-he-huo-ren-xin",9,{"title":170,"slug":171,"category":69,"order":168},"巴菲特：1977年谈通货膨胀","ba-fei-te-1977nian-tan-tong-huo-peng-zhang",{"title":173,"slug":174,"category":95,"order":168},"2002年伯克希尔股东大会","2002nian-bo-ke-xi-er-gu-dong-da-hui",{"title":176,"slug":177,"category":87,"order":178},"1962年12月 巴菲特致合伙人信","1962nian-12yue-ba-fei-te-zhi-he-huo-ren-xin",10,{"title":180,"slug":181,"category":69,"order":178},"巴菲特：1979年谈股市","ba-fei-te-1979nian-tan-gu-shi",{"title":183,"slug":184,"category":95,"order":178},"2003年伯克希尔股东大会","2003nian-bo-ke-xi-er-gu-dong-da-hui",{"title":186,"slug":187,"category":87,"order":188},"1962年中 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