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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 Redress
    There is no lie by omission either. He correctly stated his personal income tax, while discussing personal income tax. Corporate income tax is not the same thing as personal income tax.
    Uh...they're linked. Corporate taxation affects executives and notable shareholders. What BH does on an 1120 is material, and will affect what he does on his 1040.

    And you're going to argue taxation with me? I accept the challenge.

    Enter the circle.

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

    Quote Originally Posted by Redress View Post
    Only if you twist facts. He never claimed any one should pay more than they owe, but that the method he uses to keep his tax rates low exists. It's funny how you cannot actually argue against his point and are forced to just attack him and think no one will notice.
    Redress, I respect you but you're the one twisting here. Buffett argues against the system but he still uses it, thus he is being quite disingenuous. That would be like me going to my competition's client and saying he's a wife beating, deadbeat dad, alcoholic and then asking for a rule against that kind of slander after the fact. As has been pointed out, if the loopholes disgust him that much he certainly didn't have to use them.
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    re: Warren Buffett's Berkshire Hathaway Owes Taxes Going Back To 2002 [edited]

    Quote Originally Posted by VanceMack View Post
    From what I have read it was 46m...approx 100k in actual 'salary' and the remainder coming from hedge funds and capital gains...all taxed at different rates. Now...mind you...you have to get through about a dozen or so pages of nothing but conservative web sites to GET to a non Glen Beck type site to do any actual investigation on the Buffet rule and the lie that is 'I pay less than my secretary'. I had to go to one of my favorite very liberal leaning sites (truthdig.com) to get a decent breakdown. Even they are trying to justify the Buffetrule...but still point out the factual breakdowns and disparities. (link at end of post).

    But heres the thing...NOTHING 'makes' Warren Buffet utilize every loophole and tax 'cheat' he can take advantage of. that is the CORE of hypocrisy...saying one thing and doing another. If Buffet BELIEVED his bull****, then he wouldnt be DOING it. The IRS doesnt hunt down taxpayers and tell them...oh....hey...you missed a ton of deduction opportunities. No...in fact...Buffet hires at least one and Im certaina FIRM full of people to find those loopholes and claim every single one of them.

    E.J. Dionne, Jr.: Why They Hate Warren Buffett - Truthdig
    I got the 62 number from here: Warren Buffett releases tax figures to GOP - The Hill's Blog Briefing Room

    Buffett revealed in a letter sent to Huelskamp that his adjusted gross income was $62,855,038 last year and that he paid $15,300 in payroll taxes,
    It is only hypocrisy if you fail to understand his point. His point is that these methods of reducing taxes are there, not that people should not use them.
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    re: Warren Buffett's Berkshire Hathaway Owes Taxes Going Back To 2002 [edited]

    Quote Originally Posted by LaMidRighter View Post
    Redress, I respect you but you're the one twisting here. Buffett argues against the system but he still uses it, thus he is being quite disingenuous. That would be like me going to my competition's client and saying he's a wife beating, deadbeat dad, alcoholic and then asking for a rule against that kind of slander after the fact. As has been pointed out, if the loopholes disgust him that much he certainly didn't have to use them.
    I do not think you understand what the word disingenuous means either. He has been quite clear that he does these things. That is the point, that those things are there.
    We became a great nation not because we are a nation of cynics. We became a great nation because we are a nation of believers - Lindsey Graham

    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
    His personal income for 2009 I think it was was 62 million. Care to try again.
    This one is from the HuPo no less...

    "It is certainly possible that Bosanek pays a higher portion of her income in taxes than Buffett. (In his recent New York Times op-ed, Buffett says he pays the lowest rate of all the staffers in his office.) Even with the gifted stock, she likely makes most of her money in wages. Buffett makes nearly all his money from investments, benefiting from a spate of breaks and loopholes. But as a general point, Buffett is wrong: In aggregate, richer earners do pay higher rates."

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

    Buffett revealed in a letter sent to Huelskamp that his adjusted gross income was $62,855,038 last year and that he paid $15,300 in payroll taxes,
    Congratulations. He paid FICA.

    Gold star for Buffy.

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

    So really, the company that Buffet is CEO of, mind you he's not their accountant, owes back taxes. There's nothing in this article to suggest that Buffet knew about this practice or signed off on it or that the tax issue comes from willful malice or a simple mistake. All we know is that he is involved in it, and you disagree with him.

    None of this has anything to do with the validity of his message.
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    re: Warren Buffett's Berkshire Hathaway Owes Taxes Going Back To 2002 [edited]

    Quote Originally Posted by VanceMack View Post
    This one is from the HuPo no less...

    "It is certainly possible that Bosanek pays a higher portion of her income in taxes than Buffett. (In his recent New York Times op-ed, Buffett says he pays the lowest rate of all the staffers in his office.) Even with the gifted stock, she likely makes most of her money in wages. Buffett makes nearly all his money from investments, benefiting from a spate of breaks and loopholes. But as a general point, Buffett is wrong: In aggregate, richer earners do pay higher rates."
    Buffett made no claim about the aggregate. You should read what he wrote.
    We became a great nation not because we are a nation of cynics. We became a great nation because we are a nation of believers - Lindsey Graham

    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
    I do not think you understand what the word disingenuous means either. He has been quite clear that he does these things. That is the point, that those things are there.
    I get the point, though. It's like me saying that I shouldn't be able to get free cokes out of the machine because of a glitch while I use the glitch everyday to get free cokes. If I'm going to call out the practice I should be prepared to set an example until the glitch is corrected. There's nothing to stop him from sending more money to the IRS, or to correct his practices to avoid loop holes. He chooses not to while simultaneously complaining that they exist. It certainly makes him look a little dishonest about his concerns, if not his intent.
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    re: Warren Buffett's Berkshire Hathaway Owes Taxes Going Back To 2002 [edited]

    Quote Originally Posted by Redress View Post
    I got the 62 number from here: Warren Buffett releases tax figures to GOP - The Hill's Blog Briefing Room

    It is only hypocrisy if you fail to understand his point. His point is that these methods of reducing taxes are there, not that people should not use them.
    Criminy...seriously? He is claiming something that he is guilty of doing is wrong and shouldnt be done. If he believes it, he shouldnt be DOING it. Integrity...consistency...would be doing what you say you believe regardless of whether or not you CAN.

    And BTW...unless he can lay down his tax paperwork next to his secretaries...he's still full of crap with his claim.

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