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

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.
 
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.

I'd prefer he did a Jihadist suicide vest thing in the midst of them
 
Nobody in the history of the US has avoided more income and inheritance taxes than Buffett......nobody.
 
I thought I couldn't be more surprised and amused at the OP, then I read Redress immediately and shameless spring to Buffet the billionaires defense. It's like the twilight zone.
 
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
 
The Buffet Rule just became the Buffet Fool. You can stick a fork in it.
 
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
 
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.
 
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."
 
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.
 
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.
 
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
 
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.
 
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
 
Really Buffet has not paid personal taxes and is being chased down by the IRS because of it? Do you have a link
Buffett uses capital gains to offset his tax bill while complaining about it. Not that he's being chased by the IRS.


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.
And the heads of THOSE companies are not spouting off about being taxed too little, you kind of omitted that little detail.
 
Buffett uses capital gains to offset his tax bill while complaining about it. Not that he's being chased by the IRS.


And the heads of THOSE companies are not spouting off about being taxed too little, you kind of omitted that little detail.

He is using the current tax system to minimize what he has to pay in taxes, no one is disputing that, and most people would assume anyone paying more in taxes then required to would be a moron. Buffet simply has stated that the rich should be required to pay more in taxes. Others spout off that the rich should pay less in taxes. Other sides of the same coin. If some can say taxes are too high, others can say taxes are too low. No difference to me
 
He is using the current tax system to minimize what he has to pay in taxes, no one is disputing that, and most people would assume anyone paying more in taxes then required to would be a moron. Buffet simply has stated that the rich should be required to pay more in taxes. Others spout off that the rich should pay less in taxes. Other sides of the same coin. If some can say taxes are too high, others can say taxes are too low. No difference to me
Buffett could pay more this very second if he wanted to by doing 3 things. 1) Shift earned income from capital gains to a salary 2) Stop using loopholes and pay his "fair share" that he goes on about and 3) Volunteer to pay more annually on his returns, that is an actual option.
You'll have to excuse me if his failure to do any of those three things personally while leading a company to do the same loophole chasing against his OWN rhetoric doesn't draw a whole lot of sympathy from me.
 
Buffett could pay more this very second if he wanted to by doing 3 things. 1) Shift earned income from capital gains to a salary 2) Stop using loopholes and pay his "fair share" that he goes on about and 3) Volunteer to pay more annually on his returns, that is an actual option.
You'll have to excuse me if his failure to do any of those three things personally while leading a company to do the same loophole chasing against his OWN rhetoric doesn't draw a whole lot of sympathy from me.

He is not talking about charity here nor not taking advantage of the laws as they are. He is saying the system the laws should probably change in regards to taxation.
 
Buffett could pay more this very second if he wanted to by doing 3 things. 1) Shift earned income from capital gains to a salary 2) Stop using loopholes and pay his "fair share" that he goes on about and 3) Volunteer to pay more annually on his returns, that is an actual option.
You'll have to excuse me if his failure to do any of those three things personally while leading a company to do the same loophole chasing against his OWN rhetoric doesn't draw a whole lot of sympathy from me.

And you would notice I said that Buffet using the current tax laws to pay the minimum that he has to. That is not in dispute

He has stated that the tax laws shoud be changed that would require he would have to pay more
 
He is not talking about charity here nor not taking advantage of the laws as they are. He is saying the system the laws should probably change in regards to taxation.
I get that, what my point is getting to is that he doesn't put into action what he advocates which he could do immediately. He advocates what he won't do while he sees fit to volunteer other people in his bracket who may or may not agree, it is insulting that he says one thing while doing the other.
 
And you would notice I said that Buffet using the current tax laws to pay the minimum that he has to. That is not in dispute

He has stated that the tax laws shoud be changed that would require he would have to pay more
Geez. Then he needs to settle his companies tax bill, pay up, and then shut up.
 
Geez. Then he needs to settle his companies tax bill, pay up, and then shut up.


America the land of the lack of free speach for those you dissagree with

Brings a tear to the eye
 
You know - in mah town. We close down businesses who don't pay up.

Mmm hmm. Just sayin.

And we puts a sign on their doorsthat says "closed due to non payment of taxes" - nice bigole letters sos yous can see.
 
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