Presumably Mr. Buffett could adjust their incomes to include more dividend income or to defer more income from taxes each year by use of a salary-deferral plan, as well.
U.S. multinationals often pay far less than 35% because of various breaks, including the option of deferring the payment of U.S. taxes on foreign earnings until they are brought to the U.S. Those companies could pay higher taxes under Obama administration proposals to limit the benefits of deferral.
An open question: whether Mr. Slott will pay his conversion taxes at this year's top rate of 35% or elect a one-time deferral into tax years 2011 and 2012.