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Warren Buffett’s Berkshire Hathaway owes $1 billion in back taxes
Hotair ^ | 09/02/2011 | Tina Korbe

Posted on 09/02/2011 11:45:27 AM PDT by SeekAndFind

C’mon, IRS. “Stop coddling the super rich.” Contrive to successfully extract the taxes they already owe.

Mr. Buffett, I barely want to waste my breath on your blatant hypocrisy.

And, Mainstream Media (by which I mean the NYT, which ran Buffett’s obnoxious op-ed in the first place), WHERE ARE YOU?

From NewsMax:

Billionaire investor Warren Buffett triggered a major debate over taxes recently when he wrote in The New York Times that he should be paying more to the federal government. He called on Washington lawmakers to up tax rates on the rich.

But it turns out that Buffett’s own company, Berkshire Hathaway, has had every opportunity to pay more taxes over the last decade. Instead, it’s been mired in a protracted legal battle with the Internal Revenue Service over a bill that one analyst estimates may total $1 billion.

Yes, that’s right: while Warren Buffett complains that the rich aren’t paying their fair share his own company has been fighting tooth and nail to avoid paying a larger share.

The story of Berkshire’s years-long tax battle, which is generally known in business circles, took on new life this week when a group called Americans for Limited Government (ALG) reported that, according to Berkshire Hathaway’s own annual report, the company is embroiled in an ongoing standoff over its tax bills.

Human Events’ John Hayward opines perfectly:

On top of this tax bill, figure the value of the time IRS agents have invested trying to collect it – they don’t work cheap, and we pay their salaries – and the resources Buffett’s people have invested fighting back. All of which would have been saved if Buffett simply practiced what he preached, and willingly handed over his fortune to the brilliant and compassionate “leaders” he commands the rest of us to support without resistance.

Warren Buffet is no different from the other liars and frauds orbiting Barack Obama. His hypocrisy just runs billions of dollars deeper. When it comes to “shared sacrifice,” you do the sacrificing, and they do the sharing.

Meantime, Dan Primack over at CNN Money whines at the accusations of hypocrisy surrounding another of Buffett’s tax-minimizing moves (investing in Bank of America, which enables Berkshire to pay a 14.175 percent tax rate on the money it receives as dividends from BOA — rather than the typical 35 percent corporate federal income tax rate):

At this point, I’m not really sure who’s allowed to advocate for higher taxes on the rich. Certainly not the lower 98 percent, lest they be accused of engaging in “class warfare.” And apparently not the uber-wealthy like Warren Buffett, who is to be ignored until he donates a cargo plane full of gold bullion to the IRS.

Mr. Primack, anyone is allowed to advocate for higher taxes on the rich, but no one is allowed to controvert the evidence: People respond to the incentives set up by the tax system, including the Oracle of Omaha. That’s why it makes no sense to raise taxes on the folks most able to provide jobs for a job-starved nation. They’ll respond to those tax increases — and it won’t be in a way to save Obama from the high unemployment rate that threatens his reelection.


TOPICS: Business/Economy; Culture/Society; Front Page News; Government; News/Current Events
KEYWORDS: 0bamavoter; 0cheeseburger4buffet; backtaxes; berkshirehathaway; buffet; buffetontaxes; buffett; buffettontaxes; buyinginfluence; buyingtheirs; buyingwaivers; buyingwhitehouse; campaigned4obama; contributor2obama; corruption; democratcorruption; democrats; eatyourpeas; foundations2scams; fraud; hypocrisy; irs; irs4sale; liberalfascism; liberalhypocrisy; liberals; maddow2; obama; obamasupporter; obamavoter; orangejumpsuit; perpwalk; preboughtpardons2; progressives; scamerama; scofflaw; sharedsacrifice; spreadthewealth; superscammer; tax; taxcheatparty; taxes; taxtherich; voted4obama; warrenbuffett; wiltedbuffoon

1 posted on 09/02/2011 11:45:32 AM PDT by SeekAndFind
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To: SeekAndFind

Gee Warren,

Time to pay up and shut up!


2 posted on 09/02/2011 11:47:04 AM PDT by roaddog727 (It's the Constitution, Stupid!)
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To: SeekAndFind
Windbag Warren has always wanted gubmint to spend your money, not his. He ain't that stupid.
3 posted on 09/02/2011 11:48:58 AM PDT by hinckley buzzard
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To: hinckley buzzard

Wilted Buffoon, went into his room, only to find Barry’s Koran.


4 posted on 09/02/2011 11:52:36 AM PDT by WOBBLY BOB (My mind is like a steel trap: rusty and illegal in 37 states.)
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To: hinckley buzzard

spot on!

I figured out WHY Warren is helping O’bummer-

HE WANTS A REDUCED JUDGEMENT ON THE CURRENT
TAXES HE OWES!!!-

AND in fact Warren was Probably - no HE WAS Shook
down by these communists-


5 posted on 09/02/2011 11:54:01 AM PDT by mj1234
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To: SeekAndFind
Paying taxes is only for the little people, now move along and quit disturbing Warren while he counts his money.
6 posted on 09/02/2011 12:01:20 PM PDT by The Cajun (Palin, Free Republic, Mark Levin, Rush, Hannity......Nuff said.)
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To: hinckley buzzard

Warren Buffet is a populist showboat, except for one weakness: he loves flying around in his private jets.

Actually, he’s not the nice old grandpa he wants you to think. His kids worked in the family business, too, just like ours did. Our business is tiny compared to his, but we sure treat our kids with more respect and generosity.


7 posted on 09/02/2011 12:03:15 PM PDT by July4 (Remember the price paid for your freedom.)
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To: SeekAndFind

WHOA!

shut and PONY UP, MR BUFFET!


8 posted on 09/02/2011 12:06:45 PM PDT by onyx (If you enjoy FR, support it! If you support Sarah Palin & want on her Busy Ping List, let me know.)
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To: SeekAndFind

There’s hypocrisy and then there’s Warren Buffett, who takes it to a new level.


9 posted on 09/02/2011 12:08:17 PM PDT by OldPossum
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To: The Cajun
And he wants the IRS to reduce the judgment against him?

COLOSSAL HYPOCRIT = typical demonic-rat

10 posted on 09/02/2011 12:09:03 PM PDT by onyx (If you enjoy FR, support it! If you support Sarah Palin & want on her Busy Ping List, let me know.)
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To: OldPossum

You have that right!

SHAME, SAHME, SHAME ON THAT OLD BASTARD.


11 posted on 09/02/2011 12:10:14 PM PDT by onyx (If you enjoy FR, support it! If you support Sarah Palin & want on her Busy Ping List, let me know.)
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To: SeekAndFind; LucyT; little jeremiah; azishot; Fantasywriter; mojitojoe
Warren Buffett’s Berkshire Hathaway owes $1 billion in back taxes

The Buffet is full of rotten food for thought and his 0b0z0 is running on:

READ MY LIPS...NOOOO...NEWWWW...JOOOOBS

We were always right. Calling 0h0m0 "zero" was on the mark when it comes to what he does; generate the grand total of ZERO jobs.

I wish he were a real zero. He wouldn't have hurt the country that much!

12 posted on 09/02/2011 12:14:53 PM PDT by melancholy (Papa Alinsky, Enslavement Specialist)
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To: SeekAndFind

This is going to spoil Warren’s afternoon nap. And how can he enjoy his tapioca pudding if his stomach’s all upset? He probably won’t be making any macrame plant hangers, either.


13 posted on 09/02/2011 12:17:19 PM PDT by blueunicorn6 ("A crack shot and a good dancer")
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To: onyx
COLOSSAL HYPOCRIT = typical demonic-rat

Now, now, Warren probably borrowed Tim Geithner's defective copy of Turbo Tax when he figured out Berkshire Hathaway's tax liability.

Now move along :^)

14 posted on 09/02/2011 12:29:06 PM PDT by The Cajun (Palin, Free Republic, Mark Levin, Rush, Hannity......Nuff said.)
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To: SeekAndFind

Warren Boo-Fay is a cafeteria taxpayer.


15 posted on 09/02/2011 12:31:10 PM PDT by forgotten man (forgotten man)
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To: SeekAndFind

Eat your damned peas, Warren!


16 posted on 09/02/2011 12:39:19 PM PDT by COBOL2Java (Obama is the least qualified guy in whatever room he walks into.)
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To: WOBBLY BOB

Sung to the tune of Rocky Raccoon!
Wait, is that racist? *snicker*


17 posted on 09/02/2011 12:40:48 PM PDT by cardinal4 (Sauron/Saruman 2012; it couldn't be any worse..)
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To: SeekAndFind

Bump.


18 posted on 09/02/2011 12:41:13 PM PDT by EternalVigilance (The GOP elites have already decided for you. Now, eat your peas.)
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To: SeekAndFind

Maybe if these crooks paid their taxes they wouldn’t be begging Congress to tax the hell out of the rest of us.


19 posted on 09/02/2011 12:53:16 PM PDT by kempster
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To: SeekAndFind

Come on Warren pay your ‘fair share,’ and since you want to pay even more write a check for $2 billion instead just one. We could use it for the pigs in Washington and California.


20 posted on 09/02/2011 1:10:16 PM PDT by GOP Poet (Obama is an OLYMPIC failure.)
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To: COBOL2Java
Eat your damned peas, Warren!

:-D. Well said.

21 posted on 09/02/2011 1:11:20 PM PDT by GOP Poet (Obama is an OLYMPIC failure.)
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To: roaddog727

Why doesn’t he pay double? His stockholders would understand. Just another Learjet Liberocrite!

Pray for America


22 posted on 09/02/2011 1:23:24 PM PDT by bray (The Country Club opens with prayers against Palin)
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To: SeekAndFind

I always considered Warren Buffett a parasite. Ben Stein was always talking about what a genius Buffett was, which should have warned me about Stein even before he bacame a full-fledged RAT.


23 posted on 09/02/2011 1:47:11 PM PDT by ozzymandus
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To: SeekAndFind

One share of Berkshire Hathaway (BRK-A) stock is $104,000.00...ONE SHARE.


24 posted on 09/02/2011 1:50:14 PM PDT by reagandemocrat
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To: ozzymandus
Oh, he certainly is a genius; his ideas about investments are very sound, and he can read balance sheets like no other. However, that seems to be the only thing he is good at. He knows nothing about high-tech, and his understanding of economics is very wanting (he is a big Keynesian). Very narrow focus, not uncommon among geniuses (think Einstein).
25 posted on 09/02/2011 1:54:55 PM PDT by cartan
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To: reagandemocrat

....................One share of Berkshire Hathaway (BRK-A) stock is $104,000.00...ONE SHARE.......................

But, that’s not a problem because Buffett will give all of his shares to the Gates foundation, to shield his entire fortune from the taxman -

without the trouble and expense of setting up his own organization and infrastructure, and payroll expenses of distributing his own fortune. Let Bill and Melinda take care of all the issues!


26 posted on 09/02/2011 1:58:43 PM PDT by Noob1999
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To: SeekAndFind
yeah, right, a mere oversight and the check is in the mail! and i won't....
27 posted on 09/02/2011 2:40:43 PM PDT by Chode (American Hedonist - *DTOM* -ww- NO Pity for the LAZY)
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To: SeekAndFind

What needs to happen (fat chance!) is all of these ‘tax exempt’ foundations and other avoidance vehicles need to be cleared off the tax rules.


28 posted on 09/02/2011 5:08:47 PM PDT by brityank (The more I learn about the Constitution, the more I realise this Government is UNconstitutional !!)
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To: blueunicorn6

I hope Warren can still play a good bridge game with his pal Bill Gates without any worries. Bill’s dad also wants to pay more taxes. I wonder if Bill does too?


29 posted on 09/03/2011 1:28:05 AM PDT by tinamina
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