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# Price Versus Cost

So Warren Buffett pays lower taxes than his secretary but where does his secretary get all that money she needs to pay her taxes

## Price Versus Cost

Suppose you buy a gallon of gas for \$3. How much did it cost you? You say, "Williams, that's a silly question. It cost \$3." That's where you're mistaken, because there's a difference between price and cost. To prove that price and cost are not the same, consider the following. Suppose you live and work in New York City and routinely pay \$15 for a haircut. Imagine you were told that there's a barber in Boise, Idaho, who can give you the identical haircut for just \$5. Would you start going to the Boise barber? I'm betting you'd answer no because...
Related Tags: Taxes

## Breaking on TOWNHALL

Saturday, December 07 | 06:59 PM ET
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Saturday, December 07 | 06:59 PM ET
Saturday, December 07 | 06:59 PM ET