Warren Buffet, Time Traveler

Oh, would you look at that. A gaffe. Seems everybody makes them, huh.

When Buffet pays off that billion he owes, get back to us.

Citation please.

Christ, if I don't get tired of asking.

It has been posted on this board many times, I think you can handle a simple search with Buffet owes a billion in taxes as the criteria.

If you are going to defend by default at least become aware of what you wish to defend.
 
Buffett rocks.

That's why is so well loved.

Most Americans don't love any politician or their puppets. You are a fool.

[ame=http://www.youtube.com/watch?v=ovTdRq2_vxA&feature=youtube_gdata_player]PUPPET BREAK-UP (dir. by Sam Macaroni) - (Your Favorite Martian music video) - YouTube[/ame]
 
Warren Buffet makes millions of dollars a day in capital gains... he pays less in taxes on that than someone who is paying their payroll tax.

Warren also pays his secretary very handsomely... he is required by law to pay himself a salary too. He pays himself the equivalent of the lower payed employees, which is less than his 'secretary' is payed. So yes, he pays less in payroll taxes than she does, but she didnt invest millions or billions into the company, and he did... he makes a ton in capital gains, and pays his 'fair share' (supposedly).




Update: Warren Buffett’s Company Owes Nearly $1 Billion in Taxes | TheBlaze.com
 
Last edited:
Warren Buffet makes millions of dollars a day in capital gains... he pays less in taxes on that than someone who is paying their payroll tax.

Warren also pays his secretary very handsomely... he is required by law to pay himself a salary too. He pays himself the equivalent of the lower payed employees, which is less than his 'secretary' is payed. So yes, he pays less in payroll taxes than she does, but she didnt invest millions or billions into the company, and he did... he makes a ton in capital gains, and pays his 'fair share' (supposedly).



Update: Warren Buffett’s Company Owes Nearly $1 Billion in Taxes | TheBlaze.com

Obama is going to have a hard sell as he DEMANDS Congress adopt the "Buffet Rule"...



According to Berkshire’s 2010 annual report,
...the company has been in a near decade-long struggle with the IRS over its own taxes. Using public documents, a certified public accountant detailed Berkshire’s tax problems to Americans for Limited Government researcher Richard McCarty, revealing the damage could be close to $1 billion. Netright Daily adds:
According to page 56 of the company report, “At December 31, 2010… net unrecognized tax benefits were $1,005 million”, or about $1 billion. McCarty explained, “Unrecognized tax benefits represent the company’s potential future obligation to the IRS and other taxing authorities. They have to be recorded in the company’s financial statements.”
He added, “The notation means that Berkshire Hathaway’s own auditors have probably said that $1 billion is more likely than not owed to the government.”

[ame="http://www.youtube.com/watch?v=9yiay9qgqPU"]Weekly Address: It's Time for Congress to Pass the Buffett Rule - YouTube[/ame]

Fair shot Mr. President? Investment? Strong Military you're cutting back to the bone?

:eusa_hand::eusa_liar:

The man is such a LIAR.
 
If people had any idea of how Buffett amassed his fortune and why he wants to increase capital gains taxes they'd have a significantly better perspective of this tax issue.

Berkshire Hathaway evolved from a failing textile company to a multinational insurance conglomerate by using an investment scheme that makes the housing bubble's MBS and derivatives schemes seem altruistic by comparison. Simply explained: Buffett has used the 70 different insurance companies owned by Berkshire to operate insurance and reinsurance arrangements that profit at virtually zero risk by deliberately driving up insurance premiums in the US. Ironic indeed that the single individual directly responsible for the bloated scam that is our US health insurance industry is the same person that's now being trusted by the left to restructure our US financial services industry.
 
If people had any idea of how Buffett amassed his fortune and why he wants to increase capital gains taxes they'd have a significantly better perspective of this tax issue.

Berkshire Hathaway evolved from a failing textile company to a multinational insurance conglomerate by using an investment scheme that makes the housing bubble's MBS and derivatives schemes seem altruistic by comparison. Simply explained: Buffett has used the 70 different insurance companies owned by Berkshire to operate insurance and reinsurance arrangements that profit at virtually zero risk by deliberately driving up insurance premiums in the US. Ironic indeed that the single individual directly responsible for the bloated scam that is our US health insurance industry is the same person that's now being trusted by the left to restructure our US financial services industry.

So He's IMMUNE from his own RULE and a ten year battle with the IRS?

Data collision with Obama is trying to SELL the American people?

Really?
 

Warren Buffett's Berkshire Hathaway Owes Taxes Going Back To 2002
Berkshire Hathaway, the eighth-largest public company in the world according to Forbes, openly admits to still owing taxes for years 2002 through 2004 and 2005 through 2009, according to the New York Post. The company says it expects to "resolve all adjustments proposed by the US Internal Revenue Service" within the next year.
 
If people had any idea of how Buffett amassed his fortune and why he wants to increase capital gains taxes they'd have a significantly better perspective of this tax issue.

Berkshire Hathaway evolved from a failing textile company to a multinational insurance conglomerate by using an investment scheme that makes the housing bubble's MBS and derivatives schemes seem altruistic by comparison. Simply explained: Buffett has used the 70 different insurance companies owned by Berkshire to operate insurance and reinsurance arrangements that profit at virtually zero risk by deliberately driving up insurance premiums in the US. Ironic indeed that the single individual directly responsible for the bloated scam that is our US health insurance industry is the same person that's now being trusted by the left to restructure our US financial services industry.

So He's IMMUNE from his own RULE and a ten year battle with the IRS?

Data collision with Obama is trying to SELL the American people?

Really?

The only reason Buffett isn't sharing a cell with Bernie Madoff is because Berkshire Hathaway's investors threw a cool $92M at Obama's Justice Department IN 2010:

Buffett became a billionaire on paper when Berkshire Hathaway began selling class A shares on May 29, 1990, when the market closed at $7,175 a share.[29] In 1998, in an unusual move, he acquired General Re (Gen Re) for stock. In 2002, Buffett became involved with Maurice R. Greenberg at AIG, with General Re providing reinsurance. On March 15, 2005, AIG's board forced Greenberg to resign from his post as Chairman and CEO under the shadow of criticism from Eliot Spitzer, former attorney general of the state of New York. On February 9, 2006, AIG and the New York State Attorney General's office agreed to a settlement in which AIG would pay a fine of $1.6 billion.[30] In 2010, the federal government settled with Berkshire Hathaway for $92 million in return for the firm avoiding prosecution in an AIG fraud scheme, and undergoing 'corporate governance concessions'.
Warren Buffett - Wikipedia, the free encyclopedia

I defy anyone to read General Re's short wikipedia entry and then tell me Warren Buffett doesn't have buckets of US financial crisis blood on his hands:

Gen Re - Wikipedia, the free encyclopedia

Short story short:

1998 -- In "an unusual move" Buffett acquires a foreign-based reinsurance operation General Re.

2000 -- AIG and a subsidiary of General Re create two sham reinsurance arrangements that add $500M of phony loss reserves to AIG's balance sheets.

2005 -- AIG admits the arrangements with General Re are securities fraud.

2005-09 -- A total of six executives of AIG and General Re are sentenced to prison.

2010 -- Berkshire Hathaway pays $92M to the federal government to avoid prosecution.

Warren Buffett's net worth in 1998 when he acquired General Re? $29.4B

Warren Buffett's net worth in 2008 after AIG suffers a liquidity crisis and gets a multi-billion $ bailout from the federal government? In 2008 Forbes ranks Warren Buffett the richest man in the world with a net worth of $62B
 

New Topics

Forum List

Back
Top