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Thread: Warren Buffett's Berkshire Hathaway Owes Taxes Going Back To 2002 [edited]

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    re: Warren Buffett's Berkshire Hathaway Owes Taxes Going Back To 2002 [edited]

    Quote Originally Posted by winston53660 View Post
    According to the rules of this forum the headline should not be allowed.

    Right. So there's no data to back the claim that it's $1billion?
    Quote Originally Posted by Free_Radical View Post

    And I wasn't making an appeal to authority, I was making an appeal to the philosophical body of work of the founders, the worth and content of which should be well-known to anyone with a cursory understanding of basic history and philosophy.

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    re: Warren Buffett's Berkshire Hathaway Owes Taxes Going Back To 2002 [edited]

    Quote Originally Posted by winston53660 View Post
    Link please, because the OP doesn't that.
    I'm tying in all issues related Buffett. There won't be a link with what I'm saying. But let's just think about it, if he says he's paying less than his secretary he's lying because he's in a higher bracket or at least should/could be. He's a hypocrite because he does all of the creative tax dodging he rails against, and the simple dispute with the IRS says he owes the money, when it comes to the IRS you have to prove you don't owe it, they don't have the burden of proof sad to say.
    Neither side in an argument can find the truth when both make an absolute claim on it.

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    re: Warren Buffett's Berkshire Hathaway Owes Taxes Going Back To 2002 [edited]

    Quote Originally Posted by Lord Tammerlain View Post
    They were not and are not his taxes to be paid, they are BH taxes which is in dispute with the government on whether or not they are actually owed or not
    He owes the taxes. That is no longer in dispute. It is included in their latest financial statements. As the major stockholder, Chairman of the Board, and Chief Executive Officer, he has the authority....no, the responsibility to see that the corporation pays its taxes. He chose not to do so. He chose to use the system against itself and protest. Further, instead of paying the tax bill and then protesting, which is the way the rest of us have to do it, he chose not to pay at all. Rather, his company, yes his company, has been in a protracted legal battle for years attempting to avoid these taxes. And this is the not the first time. Last was a 14-year legal battle that ended in 2005.
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    re: Warren Buffett's Berkshire Hathaway Owes Taxes Going Back To 2002 [edited]

    Quote Originally Posted by LaMidRighter View Post
    I know all of that, the fact is when he spouts off stupid **** about not owing enough money he violates that duty by putting their returns at risk if someone takes him seriously. That is the point, the guy is a loud mouthed hypocrite.

    How would their return be at risk when someone takes what he says seriously?

    You have not shown that he's a hypocrite. The company that he's a CEO of is disputing their tax liability with the IRS. It doesn't say that the company is doing anything illegal to avoid taxes. It doesn't say that Buffet is doing anything illegal to avoid taxes. It doesn't invalidate his arguement that the capital gain tax results in him paying a lower rate on his income than his secretary.
    Quote Originally Posted by Free_Radical View Post

    And I wasn't making an appeal to authority, I was making an appeal to the philosophical body of work of the founders, the worth and content of which should be well-known to anyone with a cursory understanding of basic history and philosophy.

    Brian

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    re: Warren Buffett's Berkshire Hathaway Owes Taxes Going Back To 2002 [edited]

    Quote Originally Posted by nonpareil View Post
    Right. So there's no data to back the claim that it's $1billion?
    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.”
    Update: Warren Buffett’s Company Owes Nearly $1 Billion in Taxes | TheBlaze.com
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    re: Warren Buffett's Berkshire Hathaway Owes Taxes Going Back To 2002 [edited]

    Quote Originally Posted by MaggieD View Post
    He owes the taxes. That is no longer in dispute. It is included in their latest financial statements. As the major stockholder, Chairman of the Board, and Chief Executive Officer, he has the authority....no, the responsibility to see that the corporation pays its taxes. He chose not to do so. He chose to use the system against itself and protest. Further, instead of paying the tax bill and then protesting, which is the way the rest of us have to do it, he chose not to pay at all. Rather, his company, yes his company, has been in a protracted legal battle for years attempting to avoid these taxes. And this is the not the first time. Last was a 14-year legal battle that ended in 2005.

    It's undisputedly false. He doesn't own the tax, or at least that's not what the OP claims. Berkshire Hathaway does own something to the IRS and they are disputing the amount.
    Quote Originally Posted by Free_Radical View Post

    And I wasn't making an appeal to authority, I was making an appeal to the philosophical body of work of the founders, the worth and content of which should be well-known to anyone with a cursory understanding of basic history and philosophy.

    Brian

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    re: Warren Buffett's Berkshire Hathaway Owes Taxes Going Back To 2002 [edited]

    Quote Originally Posted by nonpareil View Post
    How would their return be at risk when someone takes what he says seriously?

    You have not shown that he's a hypocrite. The company that he's a CEO of is disputing their tax liability with the IRS. It doesn't say that the company is doing anything illegal to avoid taxes. It doesn't say that Buffet is doing anything illegal to avoid taxes. It doesn't invalidate his arguement that the capital gain tax results in him paying a lower rate on his income than his secretary.
    Economics lesson for you, when his company gets the **** taxed out of it the company will have less money, less money means less to divide up to investors. That's fine in Buffett's case because that piece of trash deserves to reap what he sows personally and anyone who can entertain that piece of **** also deserves the loss. Now, Buffett goes grand scale and says everyone in his bracket should pay more in taxes, those taxes come from profits which means the companies have less, less is the opposite of more which means that the people who have money in other companies will suffer from a smaller pie(less money in their coffers more in the government's remember). Since less will never be more than more and Buffett is an advocate of less, he fails in his fiduciary duty.

    Now, legal or not, which is NOT what anyone has said, Buffett has come out for MORE taxes while he and his company try to pay LESS. If you can't see a problem I can't help you.
    Neither side in an argument can find the truth when both make an absolute claim on it.

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    re: Warren Buffett's Berkshire Hathaway Owes Taxes Going Back To 2002 [edited]

    Quote Originally Posted by MaggieD View Post
    He owes the taxes. That is no longer in dispute. It is included in their latest financial statements. As the major stockholder, Chairman of the Board, and Chief Executive Officer, he has the authority....no, the responsibility to see that the corporation pays its taxes. He chose not to do so. He chose to use the system against itself and protest. Further, instead of paying the tax bill and then protesting, which is the way the rest of us have to do it, he chose not to pay at all. Rather, his company, yes his company, has been in a protracted legal battle for years attempting to avoid these taxes. And this is the not the first time. Last was a 14-year legal battle that ended in 2005.
    Again he does not owe the money

    BH does, which is not his company. It is a public company with other shareholders whose interests Buffet as manager has to take into account
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    re: Warren Buffett's Berkshire Hathaway Owes Taxes Going Back To 2002 [edited]

    Quote Originally Posted by LaMidRighter View Post
    Economics lesson for you, when his company gets the **** taxed out of it the company will have less money, less money means less to divide up to investors. .
    Do you realize how much a share of Berkshire Hathaway costs?

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    re: Warren Buffett's Berkshire Hathaway Owes Taxes Going Back To 2002 [edited]

    Quote Originally Posted by winston53660 View Post
    Do you realize how much a share of Berkshire Hathaway costs?
    Makes even more of my point though. If it costs that much per share then the investors get screwed even more when they lose value to overtaxation that Buffett is going on about.
    Neither side in an argument can find the truth when both make an absolute claim on it.

    LMR

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