Warren Buffett: Government Shill

[Skull Pilot]

Berkshire Hathaway owes a billion dollars in back taxes.

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

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.”

$1 billion is not an insignificant chunk of change, even for Buffett, representing about 0.2 percent of the company’s $372 billion in total assets.

Berkshire Hathaway Annual report link

http://www.berkshirehathaway.com/2010ar/2010ar.pdf

Now we all know that Buffett scams the tax code by paying himself a paltry 100K a year in salary for running a multibillion dollar company so as to avoid income taxes.

How does he get away with that when my own accountant said that I has better take a salary of 75K for running my business that grosses about 1.2 million a year?

How does a hypocrite like Buffett become the darling of the current administration when he clearly is one of the biggest tax dodgers around?

The answer is simple.

Warren Buffett has entered into a quid pro quo arrangement with the government where he will use his reputation to stump for higher taxes so his billion dollar tax bill will be erased.

So once again people will do anything to raise taxes on everyone but themselves.

As I said before anyone who wants to pay higher taxes is a moron and I don't think Warren Buffett is a moron because he has figured out how to pay less than most.

 

[CaughtInTheMid]

warren buffett may be a lot things. but moron isn't one of them.

 

[Skull Pilot]

I didn't say he was a moron did I?

 

[healthmyths]

warrer buffett may be a lot things. but moron isn't one of them.

He may not be a moron BUT his moronic statement that his secretary pays a higher tax rate then he does is wrong!

AGAIN why is it so hard to get the facts that are easily downloaded from the IRS?
For his secretary to pay more then 15% means she earned between $100,000 and $200,000 a year.

Here are the steps to PROVE his moronic statement was wrong!
1) Download this file:
SOI Tax Stats - Individual Statistical Tables by Size of Adjusted Gross Income

2) Then go to the row for returns between $100,000 and $200,000
13,370,297 tax returns with adjusted taxable income between $100,000 and $200,000.
Basically 13.3 million people averaged taxable income per person $100,000 to $200,000.

These 13.3 million returns paid 16.3% of their taxable income in taxes!
Wait.. THAT's MORE the Buffet's 15% RIGHT???

Tell me something then do you agree with this definition of "rich"

President Obama considers single people making over $200,000 to be rich. He has specifically called for raising taxes on singles making over $200,000 and couples making $250,000 every year he’s been office.
What Income Level Is Considered Rich? | Financial Samurai

Based on the PROOF from the IRS that Buffet's secretary was "RICH" because she paid more then 15% on income defined by OBAMA as anyone making over $200,000
MORONIC STATEMENT!!!

 

[CaughtInTheMid]

I didn't say he was a moron did I?

my apologies. i mis-read.

 

[Truthmatters]

guys Buffet has a FEW investments beyond the company that he runs.

 

[Skull Pilot]

guys Buffet has a FEW investments beyond the company that he runs.

That doesn't change the fact that he scams the tax code by keeping his salary at 100K nor does it change the fact that he owes the government a billion dollars.

Let me ask you, if you owed the IRS a few grand wouldn't your wages be garnished while this ass gets a 10 year pass on a billion?