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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 conservativeguy View Post
    Nobody in the history of the US has avoided more income and inheritance taxes than Buffett......nobody.
    Joe Kennedy might argue that point if he was still around



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

    The Buffet Rule just became the Buffet Fool. You can stick a fork in 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
    Anyone who can't see the irony of Warren Buffett sounding off about how the rich should be paying more taxes while his own company, the second largest corporation on planet earth, owes the Internal Revenue Service $1 billion in back taxes, simply isn't being honest.

    World's third wealthiest person in the world; the majority stockholder in the company in question (worth $105 billion); has another little side business worth $79.7 billion (Berkshire Hathaway Junior); is personally worth $47 billion today; ...and his company has wrangled with the IRS for years to avoid paying $1 billion in taxes. And he's still not paid it.

    If he were like the rest of us, he would have had to pony up immediately and wrangled later.

    He should go to NYC and surrender to Occupy Wall Street.
    He just cant pony it up

    Berkshire Hathaway has a responsibility to maximize returns to all shareholders, Buffets personal believes are outweighed by the responsibility to pay as little in taxes to ensure gains for the shareholders, all of them. If Buffet decided to have BH pay more in taxes the other shareholders could sue BH for not looking out for their interests
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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
    He just cant pony it up

    Berkshire Hathaway has a responsibility to maximize returns to all shareholders, Buffets personal believes are outweighed by the responsibility to pay as little in taxes to ensure gains for the shareholders, all of them. If Buffet decided to have BH pay more in taxes the other shareholders could sue BH for not looking out for their interests
    Which is fine. But the old man should have known to stay out of politics and taxes. And Obama should have known not to adopt a Buffet Rule as a cornerstone of his class warfare JOBS bill.

    Looks to me like two idiots with one bullet here. Self-inflicted too.

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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.
    You didnt go far enough...

    "He said in an interview that the roughly $23 million difference between his AGI and taxable income was due largely to deductions he took for charitable giving and local taxes.
    Two key reasons he only paid 17.4%, however, is because a lot of his income came from investments, which are taxed at a lower rate than wages, and because payroll taxes are assessed only on wage income."

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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
    He just cant pony it up

    Berkshire Hathaway has a responsibility to maximize returns to all shareholders, Buffets personal believes are outweighed by the responsibility to pay as little in taxes to ensure gains for the shareholders, all of them. If Buffet decided to have BH pay more in taxes the other shareholders could sue BH for not looking out for their interests
    At the very least, he should have paid the taxes and argued later....just like the rest of us would have to do.
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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
    He just cant pony it up
    Which is fine if the only problem was the 1B Birkshire Hathaway money, but apparently he does the exact same thing with his personal wealth which establishes a pattern. I wouldn't care if he didn't open his mouth complaining about it.

    Berkshire Hathaway has a responsibility to maximize returns to all shareholders, Buffets personal believes are outweighed by the responsibility to pay as little in taxes to ensure gains for the shareholders, all of them. If Buffet decided to have BH pay more in taxes the other shareholders could sue BH for not looking out for their interests
    Well, other companies have responsibilities to their shareholders as well and they seem to get the tax bill payed appropriately and on time, no excuse for Buffett to have a different outcome, especially after he complains it's not enough taxes. Thus hypocrite.
    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 Eighty Deuce View Post
    Which is fine. But the old man should have known to stay out of politics and taxes. And Obama should have known not to adopt a Buffet Rule as a cornerstone of his class warfare JOBS bill.

    Looks to me like two idiots with one bullet here. Self-inflicted too.
    Why should he have done what you said? Because you dont like his politics

    It is fine to criticize what he said about taxes and if he has not paid personal taxes or taxes from a private business he solely owns then this thread would have a leg to stand on. But as BH is a publically owned company Buffet and the other executives can not make decisions that will negatively effect shareholder returns without a valid reason. Paying more in taxes for political reasons would not be a valid reason
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    re: Warren Buffett's Berkshire Hathaway Owes Taxes Going Back To 2002 [edited]

    Quote Originally Posted by LaMidRighter View Post
    Which is fine if the only problem was the 1B Birkshire Hathaway money, but apparently he does the exact same thing with his personal wealth which establishes a pattern. I wouldn't care if he didn't open his mouth complaining about it.

    Well, other companies have responsibilities to their shareholders as well and they seem to get the tax bill payed appropriately and on time, no excuse for Buffett to have a different outcome, especially after he complains it's not enough taxes. Thus hypocrite.
    Really Buffet has not paid personal taxes and is being chased down by the IRS because of it? Do you have a link


    Notice that alot of other companies dont pay taxes at all. Companies having long running tax disputes is not unusual as they do try to minimize the taxes paid through the use of every tax law possible, and depending on the interpretation by the auditors it may or may not stand up.
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    re: Warren Buffett's Berkshire Hathaway Owes Taxes Going Back To 2002 [edited]

    Quote Originally Posted by MaggieD View Post
    At the very least, he should have paid the taxes and argued later....just like the rest of us would have to do.
    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
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