Skip to comments.Warren Buffett sues over taxes he doesn’t want to pay. Seriously.
Posted on 11/23/2011 5:58:00 PM PST by macquire
I miss the days when the 1% were the 1%. You know, when everyone was wearing monocles to operas and people encrusted everything with diamonds and people wore furs with the heads still attached. People enjoyed being rich. Not all this bs about not paying enough taxes and telling people you want to pay more and then having your real source of wealth, your company, secretly sue the Internal Revenue Service over your way-too-high tax bill.
(Excerpt) Read more at nakeddc.com ...
NetJets, the private-aircraft company owned by Warren Buffetts Berkshire Hathaway Inc. (BRK/A), sued the U.S. over excise taxes and penalties totaling $642.7 million assessed against the company. The Internal Revenue Service improperly assessed the so- called ticket tax, an excise tax on payments made in exchange for air transportation, NetJets said in its complaint in federal court in Columbus, Ohio, dated Nov. 14. NetJets seeks a refund and abatement of the ticket tax. The company claims in its suit that Congress intended the tax to apply to passengers who use commercial or charter aircraft owned by others.
Warren Buffett wants the Little People to pay more taxes but he’s being nickled and dimed to death over a trifling excise tax sum. I guess he finds supporting the government intolerable when it affects his bottom line!
He’s a big Obama supporter. Let him pay through the nose.
Netjets is the world’s largest “PRIVATE JET & PILOT FOR HIRE” for the wealthy. It shuttles some of the most famous and wealthy people in the world around; those that don’t want to buy their own jet and hire their own pilot. If you have 30 million in the bank in NY and suddenly decide on a lark that in 3 hours you would love to be skiing at Aspen Netjets is your ticket.
I’m sure he has some “cosmic rationale” as Billy Joel would say.
I get it, he wants the OTHER billionaires to want to pay their fair share.
EVERY liberal Hollywood actor has a team of Century City tax lawyers to make certain they pay well below the Bush Rates.
Obama paid 8 points less than the Bush rates last year.
Maybe so, but I will wager that Net Jets wins their case on the law. At any rate, why the concern? I think keeping the Federal Government from taking and spending another $643 million would be considered a good thing irrespective of who gets to keep their money.
Warren's Berkshire Hathaway has laid off hundreds of carpet mill workers in the North Georgia area. I think, instead of giving money to a wasteful government, he'd do better to put those people back to work. Sure, the carpet won't sell, but it could be donated to disaster victims who are trying to rebuild their homes. It could be a tax write off. IMHO, the money would go to better use than what the government would do.