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

VanceMack said:
I read what he wrote. I read what Obama used as his whole 'Tax the rich' justification. He cherry picked a portion of his wealth to make a point so they could change the laws.
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You might have a point, if he was changing the tax rates. He is not, he wants to implement an form of AMT.
 
LaMidRighter said:
Admitting behavior doesn't excuse it, but while we are at this line of thinking if he was being totally honest and upfront then why would there be that large of a tax dispute? Usually those disputes come up because the IRS has questions about something that doesn't add up, in this case we have a billion somethings that didn't, you don't get that large of a tax bill by being an angel. Face it, Buffett is a grand example of hypocracy. Again, if Buffett is really losing sleep over the loopholes he exploits then why would he do it. I agree in using loopholes, just not doing so while acting like Buffett does basically crying crocodile tears.
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You are building straw men(he is not losing sleep, simply pointing out what he sees as a problem...when you have to dishonestly spin like that, it is telling) and he is not saying any one should pay more than what their tax bill is nor that any one should not take all the deductions they are entitled to.
 
VanceMack said:
Buffet has said he believes HE should be taxed at a higher rate, yet he hires teams of people to squeeze out every penny. He is a hypocrite. If he believes what he has said, then he shoudlnt need to be FORCED to do it...he should simply do it. Personal integrity and hypocrisy isnt governed by what someone else says or does...it is governed by what you the speaker say and do.
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Buffett said he should be billed more, not that he should pay more than he is billed.
 
Redress said:
Then you are not following what he is saying. If you go into a store and see something on sale and think "they cannot make money at this price", are you a hypocrite if you do not pay more for it than the marked price? That is exactly what he is doing, saying that the tax bill he gets is lower than it should be. He is not saying any one should pay more than what they are billed however.
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Not the same. Anyone who takes advantage of the store putting on a ridiculous sale through no action of their own is simply getting a deal. Buffett is complaining about something he has control of, Buffett set his price(taxes) by taking money in capital gains which have the lower rate. A better analogy would be if he took an expired coupon, wrote the next day in the expiration date, took advantage of the situation and said, "people shouldn't alter expired coupons to save money" after himself being guilty.
 
I notice that still no one is able to actually counter Buffett's point with anything other than "but Buffett is a bad guy". Very telling.
 
Redress said:
Those who receive higher salary less capital gains would not be effected by the "Buffett rule". Facts, they kinda kill your rant.
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as usual you actually did not read what I wrote

I was commenting on Buffetts bs about his secretary.

not his moronic "buffett rule"
 
LaMidRighter said:
Not the same. Anyone who takes advantage of the store putting on a ridiculous sale through no action of their own is simply getting a deal. Buffett is complaining about something he has control of, Buffett set his price(taxes) by taking money in capital gains which have the lower rate. A better analogy would be if he took an expired coupon, wrote the next day in the expiration date, took advantage of the situation and said, "people shouldn't alter expired coupons to save money" after himself being guilty.
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False again. It is not Buffett's fault the rules are such as they are, and he is not telling any one they should not follow the rules.
 
TurtleDude said:
as usual you actually did not read what I wrote

I was commenting on Buffetts bs about his secretary.

not his moronic "buffett rule"
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So basically you made a poorly worded rant that has nothing to do with anything.
 
Redress said:
You might have a point, if he was changing the tax rates. He is not, he wants to implement an form of AMT.
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He wants to ignore actual dollars paid and wants to create some sort of idiotic effective rate which is stupid

the entire concept is stupid. there is a sound reason why some income is taxed differently than other forms of income and the rich always pay the highest possible rate on like income
 
I guess Buffet now has the credentials to become one of Obama's czars. :hitsfan:

He could be the "I didn't pay my taxes either" czar.
 
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Redress said:
he is not saying any one should pay more than what their tax bill is nor that any one should not take all the deductions they are entitled to
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Oh, so millionaires should not take all deductions they are entitled to. So what you're saying is that the Buffet Rule has nothing to do with closing loopholes.

I'm sorry...did I wake up to an IRS tax code goof-up where we suddenly become ultra-regressive in taxation?
 
Redress said:
You are building straw men(he is not losing sleep, simply pointing out what he sees as a problem...when you have to dishonestly spin like that, it is telling) and he is not saying any one should pay more than what their tax bill is nor that any one should not take all the deductions they are entitled to.
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I'm calling it as it is, no strawmen whatsoever. Buffett is bitching about something he is doing and could stop today, thus he's a hypocrite. Buffett further bases everything on earned income which has a higher rate than capital gains of which he takes the bulk of his money. Buffett is willing to use blatantly dishonest rhetoric to increase fellow americans taxes while taking the backdoor out. Thus he's a very disingenous hypocrite.
 
Redress said:
You would be wrong. I have been factually correct.
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LOL ... Buffet deliberately injected himself into the top rungs of the political arena. So much so that Obama's JOBS fiasco, and his website as I linked, has a "Buffet Rule" proposed.

Buffet just hosed himself in that arena ! Know when to let go of a failed defense, btw ;)
 
Buffet: "Tax me more!"
Government: "Pay what you owe us first."
 
Gipper said:
Oh, so millionaires should not take all deductions they are entitled to. So what you're saying is that the Buffet Rule has nothing to do with closing loopholes.

I'm sorry...did I wake up to an IRS tax code goof-up where we suddenly become ultra-regressive in taxation?
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Huh? Buffett's comments and the Buffett rule have nothing to do with loopholes, but with the ability through capital gains to have a lower effective rate than people with lower incomes, which the Buffett rule seeks to adress with an AMT.
 
Redress said:
False again. It is not Buffett's fault the rules are such as they are, and he is not telling any one they should not follow the rules.
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Who do you think had a say in writing the rules? The answer is the CPA lobby, they do so on behalf of the people with the most money, that would be the wealthy. Since Buffett is advanced in age it is not a far given conclusion he had a hand in at least a few loopholes here and there. Again, he cannot complain about something he does, if he has a problem with it he can change over some of his stock options to earned income and he will pay a much higher percentage, he can stop using all loopholes altogether in order to "pay his fair share", but he doesn't. My arguments hold up I think.
 
Redress said:
So basically you made a poorly worded rant that has nothing to do with anything.
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so basically you jumped to an erroneous conclusion

sort of a pavlovian boardgasm on your part?
 
LaMidRighter said:
I'm calling it as it is, no strawmen whatsoever. Buffett is bitching about something he is doing and could stop today, thus he's a hypocrite. Buffett further bases everything on earned income which has a higher rate than capital gains of which he takes the bulk of his money. Buffett is willing to use blatantly dishonest rhetoric to increase fellow americans taxes while taking the backdoor out. Thus he's a very disingenous hypocrite.
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Actually, Buffett is referring to total income, not just earned income. The discussion is over effective tax rates. If the Buffett Rule was implemented, Buffett's taxes would go up.
 
LaMidRighter said:
Who do you think had a say in writing the rules? The answer is the CPA lobby, they do so on behalf of the people with the most money, that would be the wealthy. Since Buffett is advanced in age it is not a far given conclusion he had a hand in at least a few loopholes here and there. Again, he cannot complain about something he does, if he has a problem with it he can change over some of his stock options to earned income and he will pay a much higher percentage, he can stop using all loopholes altogether in order to "pay his fair share", but he doesn't. My arguments hold up I think.
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When the speed limit was 55, I drove 55 and stated I thought it was too low. Am I a hypocrite too?

Can you actually argue against the Buffett plan? Do you think attacking him will affect whether the Buffett plan is a good idea or not?
 
Redress said:
Actually, Buffett is referring to total income, not just earned income. The discussion is over effective tax rates. If the Buffett Rule was implemented, Buffett's taxes would go up.
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Simply put, he could do that voluntarily this second, but doesn't. He doesn't voluntarily pay more money that he says he regrets not owing while his company owns a 1B$ discrepancy to the IRS(implies a little cheating), if he wants to pay more he can and in fact there is a voluntary box in forms that he could pay more than he owes to the IRS(they won't turn down free money) and yet he has the nerve to volunteer everyone else's earned income. My point stands.
 
LaMidRighter said:
Simply put, he could do that voluntarily this second, but doesn't. He doesn't voluntarily pay more money that he says he regrets not owing while his company owns a 1B$ discrepancy to the IRS(implies a little cheating), if he wants to pay more he can and in fact there is a voluntary box in forms that he could pay more than he owes to the IRS(they won't turn down free money) and yet he has the nerve to volunteer everyone else's earned income. My point stands.
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No, your point has failed miserably. The issue is with the tax rules, not with what any one person does.
 
Redress said:
When the speed limit was 55, I drove 55 and stated I thought it was too low. Am I a hypocrite too?

Can you actually argue against the Buffett plan? Do you think attacking him will affect whether the Buffett plan is a good idea or not?
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Not a good analogy. You thinking the speed limit is too low costs no one money, Buffett's thinking would and his actions have made him money doing what he's "against". In fact, while the dispute of the 1B.U.S.D. goes on Buffett will still make money even if he eventually have to pay. He is miking this thing for everything it's worth.
 
Redress said:
No, your point has failed miserably. The issue is with the tax rules, not with what any one person does.
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Incorrect, he is using the tax rules while he gripes about them and has options already to facilitate his beliefs(options he doesn't use).
 
Redress said:
I notice that still no one is able to actually counter Buffett's point with anything other than "but Buffett is a bad guy". Very telling.
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He says one thing and does another. I didnt say he was a 'bad guy'...I said he is a hypocrite. He is also a liar...he doesnt pay less in taxes than his secretary either in amount or percentage. He dissembles and omits To make a point...one you all too readily embrace because it fits what you want to hear...make the rich pay more taxes.

On the other hand...Im sure you dont drill deeply into conservatives talking points and take them all at the value they intend...from their certain point of view...too...right?
 
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