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Thread: Buffett Gives Kids Foundations $3 billion

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    Re: Buffett Gives Kids Foundations $3 billion

    Quote Originally Posted by washunut View Post
    Do you know when that was and the amount. Did he pay the inheritance taxes that would be owed under Obama's proposals.
    Nope, don't know those details. I remember hearing it during a newsbreak or something but didn't pay attention to any of the numbers. I just know it was a week or two after he got called out for his hypocracy.
    Neither side in an argument can find the truth when both make an absolute claim on it.

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    Re: Buffett Gives Kids Foundations $3 billion

    Quote Originally Posted by Hare View Post
    Few important distinctions to make, Berkshire Hathaway's financial practices are overseen by a board of directors, consisting of a handful of members not named Warren Buffet, meaning Buffet is not exactly in the position to act outside of the general will and consensus of the remaining members, and the taxes in question are of the corporate sort, which renders your accusations of tax dodging on Buffet's behalf absolutely bunk.
    1) He is the head of BH, nothing goes through there without his input 2) His own personal finances were in question.
    Neither side in an argument can find the truth when both make an absolute claim on it.

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    Re: Buffett Gives Kids Foundations $3 billion

    Quote Originally Posted by LaMidRighter View Post
    Nope, don't know those details. I remember hearing it during a newsbreak or something but didn't pay attention to any of the numbers. I just know it was a week or two after he got called out for his hypocracy.
    Why would we know details about apayment he made to the IRS?

    Wouldn't that be private information between him and the IRS?

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    Re: Buffett Gives Kids Foundations $3 billion

    Quote Originally Posted by Mason66 View Post
    Why would we know details about apayment he made to the IRS?

    Wouldn't that be private information between him and the IRS?
    Guess you missed the timeframe portion. He didn't do it out of any ethical compunction to do so, it was to save face.
    Neither side in an argument can find the truth when both make an absolute claim on it.

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    Re: Buffett Gives Kids Foundations $3 billion

    Quote Originally Posted by LaMidRighter View Post
    Guess you missed the timeframe portion. He didn't do it out of any ethical compunction to do so, it was to save face.
    So he told everybody he did it?

    I was just wondering how people know about it.

    I didn't miss anything by the way.

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    Re: Buffett Gives Kids Foundations $3 billion

    Quote Originally Posted by Mason66 View Post
    So he told everybody he did it?

    I was just wondering how people know about it.

    I didn't miss anything by the way.
    Okay, so to put this in perspective. Buffett did not cut those additional revenue checks to the IRS prior to his statements about being undertaxed, and still hadn't cut an additional check until it was pointed out that he doesn't pay in taxes what he advocates, only after that factoid was exposed did the additional payment get sent to the IRS. Forgive me if I'm less than impressed.
    Neither side in an argument can find the truth when both make an absolute claim on it.

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    Re: Buffett Gives Kids Foundations $3 billion

    Quote Originally Posted by washunut View Post
    Buffett gives $3 billion to his kids' foundations - Aug. 30, 2012

    Found this interesting. Warren Buffett of the Buffett rule just passed along $3 billion to his kids through trusts he set up. Now this person who wants folks like himself to pay at least 30% of their income in taxes never paid a penny of taxes on this money. Now that the money is in trust, his kids will be able to live off the money while running their charities and avoided the inheritance tax.

    I find it interesting that someone who have gotten filthy rich by avoiding taxes for decades, both personally and at his company wants others to pay more.

    Just seems like another amoral person eager to spend other people's money.
    Just gotta get this straight... when Romney donates to the Mormon church, he's to be revered for his charity but when Warren Buffett gives $3 billion to a kid's foundation he is to be scoffed at.

    Man this political stuff is confusing.
    Quote Originally Posted by Moderate Right View Post
    The sad fact is that having a pedophile win is better than having a Democrat in office. I'm all for a solution where a Republican gets in that isn't Moore.

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    Re: Buffett Gives Kids Foundations $3 billion

    Quote Originally Posted by poweRob View Post
    Just gotta get this straight... when Romney donates to the Mormon church, he's to be revered for his charity but when Warren Buffett gives $3 billion to a kid's foundation he is to be scoffed at.

    Man this political stuff is confusing.
    Couple of things PR. 1) Buffett rails against exactly what he does, I don't believe Romney is a pro tax advocate 2) It's not just "a" kids charity but rather a charity run by his kid's, this comes after he stated he wouldn't give his children a large inheritance. The second part is a problem, his kid's will make probably 6 figures for the rest of their lives as heads of the charitable trusts and the money is tax free, thus it's been sheltered from the inheritance tax Buffett also has professed to like.

    This is without even stating the other unethical practices Buffett is known for. He's slimy.
    Neither side in an argument can find the truth when both make an absolute claim on it.

    LMR

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    Re: Buffett Gives Kids Foundations $3 billion

    Quote Originally Posted by LaMidRighter View Post
    Couple of things PR. 1) Buffett rails against exactly what he does, I don't believe Romney is a pro tax advocate 2) It's not just "a" kids charity but rather a charity run by his kid's, this comes after he stated he wouldn't give his children a large inheritance. The second part is a problem, his kid's will make probably 6 figures for the rest of their lives as heads of the charitable trusts and the money is tax free, thus it's been sheltered from the inheritance tax Buffett also has professed to like.
    My bad. What I get out of his tax position is that he plays by the rules but he thinks the rules should be changed. I don't see anything wrong with that. It's like if I were to run for office railing against the citizens united ruling but still warmed to superpacs doing work on my behalf... It could be called hypocritical or it could be that I'm not so stupid that since the rules changed I'm not fool enough to bring a knife to a gunfight.



    Quote Originally Posted by LaMidRighter View Post
    This is without even stating the other unethical practices Buffett is known for. He's slimy.
    I don't know about his slimyness. Probably need to read more on that.
    Quote Originally Posted by Moderate Right View Post
    The sad fact is that having a pedophile win is better than having a Democrat in office. I'm all for a solution where a Republican gets in that isn't Moore.

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    Re: Buffett Gives Kids Foundations $3 billion

    Quote Originally Posted by poweRob View Post
    My bad. What I get out of his tax position is that he plays by the rules but he thinks the rules should be changed. I don't see anything wrong with that. It's like if I were to run for office railing against the citizens united ruling but still warmed to superpacs doing work on my behalf... It could be called hypocritical or it could be that I'm not so stupid that since the rules changed I'm not fool enough to bring a knife to a gunfight.
    I can see where people view things that way, but I have a major disagreement with it. To me you walk the same line you tow, for instance if someone claims they pay too much in taxes and does what it takes to lessen their burden the message and actions are consistent, I have no respect for someone who says they pay too little in taxes and milk every loophole they can afford. It's kind of like a gentleman's agreement before a boxing match and then the guy who asks for it headbutting and taking low blows when the ref's head is turned away.





    I don't know about his slimyness. Probably need to read more on that.
    There's not much out there readily available but he is an economic shortcutter, BNSF was a huge beneficiary of the pipeline slowdown, Birkshire Hathaway purchased that rail company years ago. I would have to dig to find more but Buffett is no saint.
    Neither side in an argument can find the truth when both make an absolute claim on it.

    LMR

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