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Oh, would you look at that. A gaffe. Seems everybody makes them, huh.
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.
Buffett rocks.
That's why is so well loved.
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
...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.”
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.
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.
What is the buffet rule? Dodge taxes for ten years?
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?
Warren Buffett - Wikipedia, the free encyclopediaBuffett 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'.