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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 CriticalThought View Post
    Provide me a link with Buffet's own words that shows that this is his argument.
    What else could he be arguing? He has almost no ordinary income so that can't be the problem. Ordinary income is taxed on a progressive basis so which tax is too low for Buffett?
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    re: Warren Buffett's Berkshire Hathaway Owes Taxes Going Back To 2002 [edited]

    Quote Originally Posted by CriticalThought View Post
    Provide me a link with Buffet's own words that shows that this is his argument.
    Buffett: "Well, the precise program which will -- I don't know what their program will be. My program would be on the very high incomes that are taxed very low. Not just high incomes. Somebody making $50 million a year playing baseball, his taxes won't change. Make $50 million a year appearing on television, his income won't change. But, if they make a lot of money and they pay a very low tax rate, like me, it would be changed by a minimum tax that would only bring them up to what the other people pay."


    Warren is good at being careful with what he says. So he says that with his ideas those making $50 million a year playing baseball would not pay any more in taxes. Is this Obama's plan? No.

    Now people like him would see higher taxes under his ideas. He doesn't make much more than $50 million. What is the difference? Capital Gains vs regular income.

    Warren Buffett Does Not Endorse "Buffett Rule" | RealClearPolitics

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

    Quote Originally Posted by 1Perry View Post
    Buffett: "Well, the precise program which will -- I don't know what their program will be. My program would be on the very high incomes that are taxed very low. Not just high incomes. Somebody making $50 million a year playing baseball, his taxes won't change. Make $50 million a year appearing on television, his income won't change. But, if they make a lot of money and they pay a very low tax rate, like me, it would be changed by a minimum tax that would only bring them up to what the other people pay."


    Warren is good at being careful with what he says. So he says that with his ideas those making $50 million a year playing baseball would not pay any more in taxes. Is this Obama's plan? No.

    Now people like him would see higher taxes under his ideas. He doesn't make much more than $50 million. What is the difference? Capital Gains vs regular income.

    Warren Buffett Does Not Endorse "Buffett Rule" | RealClearPolitics
    That is a highly misleading headline, since he states he does support the Buffett rule in the interview. What he does not support is another proposal altogether.

    Edit: and you get major credit for actually discussing what Buffett is talking about instead of being afraid to like most of those in this thread.
    Last edited by Redress; 10-13-11 at 03:59 PM.
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    re: Warren Buffett's Berkshire Hathaway Owes Taxes Going Back To 2002 [edited]

    Quote Originally Posted by Redress View Post
    That is a highly misleading headline, since he states he does support the Buffett rule in the interview. What he does not support is another proposal altogether.
    I can't see that.

    CNBC: "Are you happy that the way it is being described. Is the program that the White House has presented a million dollars and over your program? "

    Buffett: "Well, the precise program which will -- I don't know what their program will be.


    It would be hard to say that he supported something that he states he doesn't even know what's in it.

    Edit: and you get major credit for actually discussing what Buffett is talking about instead of being afraid to like most of those in this thread.
    It's easy to do when you agree with him.

    I made the arguement that capital gains should be taxed the same as regular income before Buffett did (publicly at least).

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

    Buffett is playing by the rules as they are now established, while advocating they be changed in the interest of fairness

    this is not unlike a(n American League) baseball manager who opposes the designated hitter batting for the pitcher but who still uses a designated hitter. if he batted his pitcher it would disadvantage his team. but to be sure, if the rule were changed, he would delight in putting his pitcher in the batting order instead

    Judge Learned Hand has a classic quote about paying one's taxes. a quote which is germane to this discussion:
    Any one may so arrange his affairs that his taxes shall be as low as possible; he is not bound to choose that pattern which will best pay the Treasury; there is not even a patriotic duty to increase one's taxes.
    this is true from someone loaded, like Buffett, and someone who is not, such as me
    i personally would want the mortgage deduction eliminated from the tax rules. doesn't mean i would refuse to take that deduction while the rule still allows it. my playing by the rules does not make me a hypocrite. and neither is Buffett. he is a wise citizen who is offering sage tax policy advice to his nation
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    re: Warren Buffett's Berkshire Hathaway Owes Taxes Going Back To 2002 [edited]

    Quote Originally Posted by 1Perry View Post
    I can't see that.

    CNBC: "Are you happy that the way it is being described. Is the program that the White House has presented a million dollars and over your program? "

    Buffett: "Well, the precise program which will -- I don't know what their program will be.


    It would be hard to say that he supported something that he states he doesn't even know what's in it.



    It's easy to do when you agree with him.

    I made the arguement that capital gains should be taxed the same as regular income before Buffett did (publicly at least).
    The program with the Buffett rule is similar to an AMT. It only effects those with a low effective tax rate which he does support.
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    Quote Originally Posted by Fiddytree View Post
    Uh oh Megyn...your vagina witchcraft is about ready to be exposed.

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

    Quote Originally Posted by Redress View Post
    The program with the Buffett rule is similar to an AMT. It only effects those with a low effective tax rate which he does support.
    He's speaking about those whose main income comes from capital gains. I haven't seen his speak specifically how making them more equal would be accomplished. He alludes to something like a AMT but I have no idea how that would pertain to C.G.'s. Make them the same and his complaint goes away.
    Last edited by 1Perry; 10-13-11 at 05:48 PM.

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

    Quote Originally Posted by 1Perry View Post
    He's speaking about those whose main income comes from capital gains. I haven't seen his speak specifically how making them more equal would be accomplished. He alludes to something like a AMT but I have no idea how that would pertain to C.G.'s. Make them the same and his complaint goes away.
    The White House proposal is an AMT.
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    Quote Originally Posted by Fiddytree View Post
    Uh oh Megyn...your vagina witchcraft is about ready to be exposed.

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

    Quote Originally Posted by Redress View Post
    The White House proposal is an AMT.
    The White House proposals are a moving objects full of ambiguity.

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

    Quote Originally Posted by conservativeguy View Post
    What else could he be arguing? He has almost no ordinary income so that can't be the problem. Ordinary income is taxed on a progressive basis so which tax is too low for Buffett?
    He's an Obama slurper pure and simple. He wants democrats to win national elections and figures kissing Obama's ass and supporting Obama's class warfare will help get his party elected



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