That he spends $2.5 million on a lobbying effort to get Congress to change the law so his company can avoid $643 million in taxes. Ira Stoll has the details here.

I’m glad Buffett got that win. Better that Berkshire Hathaway uses the money than Congress blows it. The trouble is that Buffett keeps saying that many other Americans (those millionaires and billionaires and quite a few people who make less) ought to be hit with higher taxes.

I wish Howard Buffett were still around. Warren’s dad was a strict constitutionalist who represented Omaha in Congress back in the 40s and 50s. In this case, the apple fell miles from the tree.