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Buffet owes a billion in back taxes yet the new proposal is named after him?

Grampa Murked U

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Can I have the Geithner tax plan instead?

Seriously does Obama have any supporters that havnt broken the law or cheated the system?
 

eflatminor

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Buffet pays himself only 100 grand a year and lives in a modest suburban home. His wealth comes from capital gains. Does Obama's plan raise the capital gains tax?
 

oreo

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Buffet pays himself only 100 grand a year and lives in a modest suburban home. His wealth comes from capital gains. Does Obama's plan raise the capital gains tax?

You know I think there's something really weird about someone who continually calls to raise taxes on other's--but is giving the Federal Government a 10 year hard time about paying a past due tax bill. Is it me that's weird or what?--:lol:

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

del

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Buffet pays himself only 100 grand a year and lives in a modest suburban home. His wealth comes from capital gains. Does Obama's plan raise the capital gains tax?

You know I think there's something really weird about someone who continually calls to raise taxes on other's--but is giving the Federal Government a 10 year hard time about paying a past due tax bill. Is it me?--:lol:

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

yeah
 
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Grampa Murked U

Grampa Murked U

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Can I have the Geithner tax plan instead?

Seriously does Obama have any supporters that havnt broken the law or cheated the system?

buffett doesn't owe a billion dollars.


fail

The IRS doesn't think he failed. In fact they think he owes a shit ton of money and he seems to agree based on what he has said. Yet he won't pay?!?

I dunno but it all seems very hypocritical and shady to me.
 

auditor0007

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Buffet pays himself only 100 grand a year and lives in a modest suburban home. His wealth comes from capital gains. Does Obama's plan raise the capital gains tax?

It should, but not to the same level as the income tax rate.
 

del

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Can I have the Geithner tax plan instead?

Seriously does Obama have any supporters that havnt broken the law or cheated the system?

buffett doesn't owe a billion dollars.


fail

The IRS doesn't think he failed. In fact they think he owes a shit ton of money and he seems to agree based on what he has said. Yet he won't pay?!?

I dunno but it all seems very hypocritical and shady to me.

berkshire hathaway is in court over a billion dollar tax bill.

it's a publicly traded corporation.

megafail
 

bripat9643

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editec

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The man plays by the rules of the game.

He recognizes and mentioned that the rules that are serving him so well are not also serving this nation so well.

And for that, some of you hate the guy?

WEll, that shouldn't surprise me given that LOVING TO HATE is pretty much what motivates so many of you folks.
 

Sarah G

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Can I have the Geithner tax plan instead?

Seriously does Obama have any supporters that havnt broken the law or cheated the system?

buffett doesn't owe a billion dollars.


fail

The IRS doesn't think he failed. In fact they think he owes a shit ton of money and he seems to agree based on what he has said. Yet he won't pay?!?

I dunno but it all seems very hypocritical and shady to me.

Who cares what it seems like to you when you sit around here posting lies all day?
 

Rocko

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I think Warren Buffett is an example of a super rich guy, who made it, because of capitalism, and now that he's become super rich he endorses socialism, so no one else can be as successful as him...I know he has a squeaky clean image, but he strikes me as a creepy corrupt guy, and just because he's super wealthy doesn't mean his opinion on taxes is more significant than any other citizen. I'm tired of hearing from Obama how Warren Buffets supports his tax plan.
 

Conservative

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Rocko

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The man plays by the rules of the game.

He recognizes and mentioned that the rules that are serving him so well are not also serving this nation so well.

And for that, some of you hate the guy?

WEll, that shouldn't surprise me given that LOVING TO HATE is pretty much what motivates so many of you folks.

I don't hate the guy, but I don't know if he plays by the rules of the game.

He invested 5 billion dollars in goldman sachs before TARP, and when TARP looked like it didn't have enough support to pass, he publicly put the pressure on the politicians to pass the bill, saying he would not have made the personal investment unless he knew the government was going to do the right thing.

Both the Goldman Sachs 5 billion investment, and the 5 billion Bank of America investment....he was able to get the shares at a discount and get significant warrant coverage free....Its not illegal, but it's an example of how, because he's wealthy he takes advantage of special treatment, and that speaks to the hypocrisy of his view on taxes.

I don't care about all stories the media writes about, how he eats hamburgers and lives in a log cabin...the guy complains he's not being taxed as much as his secretary, but has a army of tax lawyers that look for every loophole in the book to save him from paying.

Again, why does it matter more what Warren Buffet thinks, as opposed to any other citizen??
 

editec

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The man plays by the rules of the game.

He recognizes and mentioned that the rules that are serving him so well are not also serving this nation so well.

And for that, some of you hate the guy?

WEll, that shouldn't surprise me given that LOVING TO HATE is pretty much what motivates so many of you folks.

I don't hate the guy, but I don't know if he plays by the rules of the game.

He invested 5 billion dollars in goldman sachs before TARP, and when TARP looked like it didn't have enough support to pass, he publicly put the pressure on the politicians to pass the bill, saying he would not have made the personal investment unless he knew the government was going to do the right thing.

Both the Goldman Sachs 5 billion investment, and the 5 billion Bank of America investment....he was able to get the shares at a discount and get significant warrant coverage free....Its not illegal, but it's an example of how, because he's wealthy he takes advantage of special treatment, and that speaks to the hypocrisy of his view on taxes.

I don't care about all stories the media writes about, how he eats hamburgers and lives in a log cabin...the guy complains he's not being taxed as much as his secretary, but has a army of tax lawyers that look for every loophole in the book to save him from paying.

Again, why does it matter more what Warren Buffet thinks, as opposed to any other citizen??

Good question.

I suppose the fact that he is one of the richest citizens of all, and the fact that he notes that he is paying taxes at a rate lower than people who make much much MUCH less than him in why some of us THINK that what he says needs to be addressed.

That's my theory, do you have an alternate explaination for why we're talking about him?
 

Rocko

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My point is it's just his opinion, and it shouldn't be worth more than someone else's just because he's a billionaire..

Many ppl (including me) believe confiscatory tax policy on the uber wealthy has potential to affect every class in the private sector.

My opinion on Warren Buffett is maybe he's suggesting higher taxes, because he doesn't want others to get ahead, the way he did...its just a theory, but no one knows what his motivation is, and we didn't elect him to office, so why should he dictate tax policy?

EDIT: The reason why we're talking about him, is he's allowing himself to be used as a prop, for Obama to pass legislaton< and people do value his opinion, my argument is that I din't think they should above anyone else's immersed in this debate.
 
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Claudette

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Yep and doesn't he pay the 15% on cap gains not Fed income taxes??

If he wants to pay more then let him draw a salary and he will pay more.

This "fair share" crap is just that. Crap.

The rich in this country pay the lions share of the Fed taxes as it is. How much more should they pay just because they are wealthy??
 

CrusaderFrank

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Also, Buffet does most of BRK.A acquisitions as stock swaps so there is no tax when he buys billions worth of new assets.

I don't know how Buffett supports the most anti-business, anti-free enterprise, anti-American president in my lifetime.
 

eflatminor

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Buffet pays himself only 100 grand a year and lives in a modest suburban home. His wealth comes from capital gains. Does Obama's plan raise the capital gains tax?

It should, but not to the same level as the income tax rate.

So the answer is 'no'; capital gains rates will not change. Yet our President's plan is named after a guy whose fortune is taxed at a rate not affected by the proposed rate increase. Fantastic.

When Obama goes after loopholes in corporate taxes, he should call it the Immelt plan.
 

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