Yet it has passed largely without comment that the very rich man who says he would like higher taxes on the rich has pulled off a deal designed entirely to avoid a large tax bill. America’s favourite billionaire indeed.

An unfathomable record as an investor. But a man who has also no doubt benefited, especially during the financial crisis, from an element of cronyism. As for his sanctimoneous positions on taxation…it’s always struck me that if he felt under-taxed, nothing prevented him from ponying up an extra $100mm to the Treasury any time he wanted. Of course, he’s not alone among the wealthy left in that contradictory behaviour.

via Buffett gets the better of everyone, version 4,762 | FT Alphaville.