NetJets Inc., the private-jet company owned by Mr. Buffett's Berkshire Hathaway Inc., spent more than $1 million over the past three years to lobby Congress to cut a user fee, benefiting the company's well-heeled customers, who buy or lease shares in planes. The reduced fee, part of the recent Federal Aviation Administration bill that took effect earlier this month, will save customers of NetJets and other similar companies roughly $83 million over about four years, according to congressional estimates.As customers of commercial airlines you and I pay a 7.5% tax on our tickets. Private planes owned by Mr. Buffett are now classified as "non-commercial" and pay a lower tax based on fuel consumption. Opponents of Mr. Buffett will undoubtedly call this another example of double standards by limousine liberals / private-jet plutocrats.
Me, I'm just filled with admiration. $1 million in lobbying fees produces $83 million of tax savings. That's why he's Warren Buffett and I still clip coupons.