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Buffett also rejected the idea that his own company's structure as a conglomerate helps it reduce the taxes. He said Berkshire Hathaway and all its subsidiaries pay a normal rate of taxes on profits. Berkshire Hathaway owns more than 80 companies; including insurance, utility, railroad, furniture, jewelry, manufacturing, restaurant and apparel companies. Berkshire's insurance and utility businesses typically account for more than half of his company's net income. ___ Online: Berkshire Hathaway Inc.: Carol Loomis' Buffett book: http://bit.ly/VdMokO
http://www.berkshirehathaway.com/
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