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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 Lord Tammerlain View Post
    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
    He shapes policy for the company and I believe he is a principle. So yes, he does owe money.
    Neither side in an argument can find the truth when both make an absolute claim on it.

    LMR

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

    I don't know why you are surprised. I'm sure that if you looked into it, his firm is not at all unique in this aspect. I bet if the IRS would go after corporations for backed taxes like they do individuals, our budget problems would be solved at least for the next 10 years. Garnish their Profits LOL!

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

    Quote Originally Posted by LaMidRighter View Post
    He shapes policy for the company and I believe he is a principle. So yes, he does owe money.
    Yes he shapes the policy for the company to large extent

    But it is a tax bill owed by BH not Buffet. If the dispute does go in BH's favor the IRS will collect the money from BH not Buffet. It is not owed by Buffet, but by a company he is the manager of, and a major shareholder in
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    re: Warren Buffett's Berkshire Hathaway Owes Taxes Going Back To 2002 [edited]


    Unrecognized tax benefits doesn't equate to the disputed amount with the IRS. It's an estimate base on assumptions that may or maybe not be realised. So how much of that amount is actually under dispute is what I want to know, and that will actually verify the article's claim.

    FYI, if that's all they have to base this claim on, most companies will have a certain amount of unregconised tax benefits.
    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 Lord Tammerlain View Post
    Yes he shapes the policy for the company to large extent

    But it is a tax bill owed by BH not Buffet. If the dispute does go in BH's favor the IRS will collect the money from BH not Buffet. It is not owed by Buffet, but by a company he is the manager of, and a major shareholder in
    Doesn't matter. In lieu of Mr. Buffett's comments anything owed is on his shoulders independent of the payor. Fiduciary responsibility be damned in this case because he is already arguing for the opposite of his shareholders best interests by advocating for higher taxes on the wealthy. Every dollar the company loses comes out of a shareholders pocket and his decisions are responsible.
    Neither side in an argument can find the truth when both make an absolute claim on it.

    LMR

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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. 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.

    Well, you should help yourself first. Why use so many emotional appeals? Are you angry at Buffet or do you not have actual arguement to make? Buffet talked about capital gain tax. And if he wants to raise the corporate income tax, again he's entitled to his opinion, and his company would not be put at a disadvantage since the rule will apply to all companies.

    Legality very much matter, if you want to argue that Buffet should go against the law to pay taxes his company is disputing, then you are not arguing like a sane person.
    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 LaMidRighter View Post
    Doesn't matter. In lieu of Mr. Buffett's comments anything owed is on his shoulders independent of the payor. Fiduciary responsibility be damned in this case because he is already arguing for the opposite of his shareholders best interests by advocating for higher taxes on the wealthy. Every dollar the company loses comes out of a shareholders pocket and his decisions are responsible.
    His arguements for higher taxes are made by him as a private individual and if I am not mistaken are directed towards more private individuals rather then companies

    Buffets comments about taxes being too low is independant of the taxes owed or not owed by BH
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    re: Warren Buffett's Berkshire Hathaway Owes Taxes Going Back To 2002 [edited]

    Quote Originally Posted by LaMidRighter View Post
    Doesn't matter. In lieu of Mr. Buffett's comments anything owed is on his shoulders independent of the payor. Fiduciary responsibility be damned in this case because he is already arguing for the opposite of his shareholders best interests by advocating for higher taxes on the wealthy. Every dollar the company loses comes out of a shareholders pocket and his decisions are responsible.

    Buffet doesn't have a Fiduciary duty to make sure people who own shares in his company pay less tax, his responsibility is to maximise the returns on the shares they own of his company within the boundary of the law.
    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 Lord Tammerlain View Post
    His arguements for higher taxes are made by him as a private individual and if I am not mistaken are directed towards more private individuals rather then companies

    Buffets comments about taxes being too low is independant of the taxes owed or not owed by BH
    That doesn't matter. Plenty of individuals have their money tied into small businesses profits and they aren't seperable. I don't care where Buffett was going he is a hypocrite.

    Quote Originally Posted by nonpareil View Post
    Well, you should help yourself first. Why use so many emotional appeals? Are you angry at Buffet or do you not have actual arguement to make? Buffet talked about capital gain tax. And if he wants to raise the corporate income tax, again he's entitled to his opinion, and his company would not be put at a disadvantage since the rule will apply to all companies.

    Legality very much matter, if you want to argue that Buffet should go against the law to pay taxes his company is disputing, then you are not arguing like a sane person.
    Hardly an emotional appeal. The fact is he's arguing for less, that is quantifyable once the data is known. An emotional appeal would require an unprovable position based on how I feel. I am using logic.
    Neither side in an argument can find the truth when both make an absolute claim on it.

    LMR

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

    Quote Originally Posted by nonpareil View Post
    Buffet doesn't have a Fiduciary duty to make sure people who own shares in his company pay less tax, his responsibility is to maximise the returns on the shares they own of his company within the boundary of the law.
    If his company loses money due to taxes they MAKE less, not pay less is the point. He does have a fiduciary responsibility to maximize their return.
    Neither side in an argument can find the truth when both make an absolute claim on it.

    LMR

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