"Tax Me More" Warren Buffett To Finance Burger King's Tax Inversion Deal

Zero Hedge ^ | 08/27/2014 | Tyler Durden

[SeekAndFind]

President Obama would have proudly proclaimed Warren Buffett a true patriot in his bailing out of the banking system with expensive loans and his 'realization' that those earning more than $1 million should be tax-tax-taxed. However, the "Buffett Rule" appears to have one caveat... if you are making over a $1 billion, you're good to go with tax-avoidance strategies. In one of his career's most hypocritical moves Warren "tax-me-more" Buffett has decided that putting his money where his mouth is no longer makes sense.. and is funding $3billion of Burger King's "tax-inversion" takeover of Canada-based Tim Hortons. Somewhere on a golf course, a Presidential Putter is being snapped across a knee...

As WSJ notes,

The deal would create the world's third largest quick-service restaurant company, with about $23 billion in system sales and more than 18,000 restaurants in 100 countries.

 

 

The new global company will be based in Canada, though each brand will be managed independently after the deal's completion, the companies said.

But, in what appears a straight up challenge to the Obama administration's "Patriot Defense", Warren "Tax Me More" Buffett has decided it is entirely patriotic and capitalistic to sponsor tax avoidance strategies... (as Bloomberg notes)

[BookmanTheJanitor]

someone say tax aversion...oh, inversion...never mind.

[Red Badger]

Don’t tax you,
Don’t tax me,
Tax the man,
Behind the tree....................

[blueunicorn6]

You mean! You mean! Warren Buffett isn’t really the kindly old man handing out treats to little kids?

[GeronL]

he is going to make a killing

[musicman]

"he is going to make a killing"



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[econjack]

You know, if Buffet really feels that way, then let him and his uber-rich friends take out their checkbooks and write Uncle Sam a huge check. Otherwise, STFU because taxes in this country are crushing everyone from small businesses to those of us on fixed incomes, not to mention the adverse affects on business formations.

[GeronL]

lolz

[free from tyranny]

Abandon ship!!!! Everyman for himself!!!!

[SeekAndFind]

Warren Buffett, who has been running around complaining that the government should “stop coddling the super-rich” and should raise taxes, is suing the IRS to avoid $643 million in taxes that the government says Berkshire Hathaway’s NetJets subsidiary owes the government for failing to collect ticket taxes from NetJets customers (who include Mr. Buffett himself).

SEE HERE:

http://nation.foxnews.com/warren-buffett/2011/11/19/buffett-sues-irs

In short, the man is a first class HYPOCRITE.

[griswold3]

So Warren Buffet must have paid the IRS the millions he was challenging as owed.

[RayChuang88]

Does the word hypocrite apply here?

[PGR88]

At Buffett’s level of wealth, you can’t avoid politics. He knows which tune he should sing.

I lost all respect for him when he pulled his behind-the-scenes, crony-capitalist investment in Goldman Sachs and GE Finance, immediately before the US Treasury and the FED bailed both out.

[arthurus]

Buffett was talking about the Personal Income Tax to which he is likely not even subject. He doesn’t have to take any “income,” what with the megamillions in Capital Gains available to him. Billionaires are not so long sighted as they think when they ally with the politicians. The politicians, when they have attained the control they seek will render the billionaires either dead or much reduced figurehead puppets as Herr Hitler and Associates did. Of course that doesn’t apply to the old guys like Buffett and Soros but the Silicon Valley crowd will hit that wall eventually and eventually seems set to come pretty quickly now.

[ek_hornbeck]

Reminds me of George Soros, who says that making profits by shorting foreign currency ought to be illegal, even though he made his fortune by shorting foreign currencies.

[reefdiver]

He sings one tune, his. No loyalty to,anyone but himself.
He bought Obama , shut down the Keystone Pipeline so his Burlington Northern Santa Fe railroad who owns all the tracks that connect to Western Canada. They haul 80% of the oil from Canada to the Midwest and Texas. BNSF charges $30.00 per barrel, the Keystone Pipeline would cost $10.00 per barrel by the state dept own estimate.
Buffett stands to lose 2 Billion a year if the pipeline is constructed

Loyalty to himself

[CincyRichieRich]

obammer is counting on American’s being stupid and blind to know the connection between his administration and Buffet. No different than him saying, “let me be clear...” and doing the exact opposite from what he says.

[PoloSec]

I have been getting very frustrated watching America’s destruction from within...I might just move to Canada myself.

I read somewhere once that Canada would be the last western civilized nation to go down the tubes.

[Cyman]

When I was a kid they called it “talking out of both sides of your mouth”

[longtermmemmory]

IOW buffett says “SUCKERS!”

talk about moral hazard.

This is the mortgage crisis all over.

Taxes are so confiscatory so only the cronies are allowed to avoid them.