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Well Buffett postures about paying more in taxes meanwhile his company isn't paying what they owe under the current rates. What a jerk.
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“We anticipate that we will resolve all adjustments proposed by the US Internal Revenue Service (“IRS”) for the 2002 through 2004 tax years ... within the next 12 months,” the firm’s annual report says.
It also cites outstanding tax issues for 2005 through 2009.
Obvious question: If Buffett really thinks he and his “mega-rich friends” should pay higher taxes, why doesn’t his firm fork over what it already owes under current rates?
Likely answer: He cares more about shilling for President Obama — who’s practically made socking “millionaires and billionaires” his re-election theme song — than about kicking in more himself.
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"Some guys play in all-star games, some guys don't. I don't know who picks all those all-star teams. In all honesty, I don't know who picks the combine, for that matter," Belichick said. "How does (Miami-Ohio offensive lineman Brandon) Brooks not get invited to the combine? How did Vollmer not get invited to the combine? I don't know. We can't really worry about that. We just have to try to evaluate them the best we can."
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[From 1917 until now we have had tax rates for the highest incomes groups up to 92% of their income. That rate was not for just a few years. In 1917 the tax rate was 67% for this group and it was still 70% in 1980. From 1950 to 1963 the tax rate was 91% (92% in 1952 and 1952). During the Reagan presidency the tax rate topped out at 69.13%. The top tax rate in 2010 was 35%. The lowest tax rate during the last 90 years was 24% in 1929, the year the Great Depression began. So why are people concerned that the wealthiest Americans are getting taxed too much when they are being taxed at the historic low that they are now?]
[From 1917 until now we have had tax rates for the highest incomes groups up to 92% of their income. That rate was not for just a few years. In 1917 the tax rate was 67% for this group and it was still 70% in 1980. From 1950 to 1963 the tax rate was 91% (92% in 1952 and 1952). During the Reagan presidency the tax rate topped out at 69.13%. The top tax rate in 2010 was 35%. The lowest tax rate during the last 90 years was 24% in 1929, the year the Great Depression began. So why are people concerned that the wealthiest Americans are getting taxed too much when they are being taxed at the historic low that they are now?]
Of course this does not take into account what deductions and 'loopholes' were part of the tax code.
If you were interested in the real story you would look at the % of taxes paid by people in the different quintiles . That would tell a different story.
Funny how the defenders of Lear Jet Libs consider the behavior of the fund run by the current hero having tax problems with underpayment to be out of context hilarious.
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"Some guys play in all-star games, some guys don't. I don't know who picks all those all-star teams. In all honesty, I don't know who picks the combine, for that matter," Belichick said. "How does (Miami-Ohio offensive lineman Brandon) Brooks not get invited to the combine? How did Vollmer not get invited to the combine? I don't know. We can't really worry about that. We just have to try to evaluate them the best we can."
...Funny how the defenders of Lear Jet Libs consider the behavior of the fund run by the current hero having tax problems with underpayment to be out of context hilarious.
He doesn't run a fund, but I'm curious -- did you actually look at the annual report or did you just accept the Post's complaints at face value?
Don't worry, I'm not actually curious, because I know the answer.
By whining about this without actually delving into it, you're just showing yourself to be the hypocritical partisan we know you to be, not to mention again showing your utter lack of business acumen.
By the way, I know you think "Lear Jet Liberal" is clever, but again, Lear Jets really just aren't that hot (for those with resources, of course).
[From 1917 until now we have had tax rates for the highest incomes groups up to 92% of their income. That rate was not for just a few years. In 1917 the tax rate was 67% for this group and it was still 70% in 1980. From 1950 to 1963 the tax rate was 91% (92% in 1952 and 1952). During the Reagan presidency the tax rate topped out at 69.13%. The top tax rate in 2010 was 35%. The lowest tax rate during the last 90 years was 24% in 1929, the year the Great Depression began. So why are people concerned that the wealthiest Americans are getting taxed too much when they are being taxed at the historic low that they are now?]
If you're trying to give the impression that people paid 92% of their income (for example) in taxes, your post is purposefully misleading. We've never had a tax rate of 92% of all income earned in this country. People were taxed in steps. They would pay "X%" on the first $1 million and then higher rates would kick in.
Don't get me wrong, I fully support higher tax rates on the mega-wealthy.
He doesn't run a fund, but I'm curious -- did you actually look at the annual report or did you just accept the Post's complaints at face value?
Don't worry, I'm not actually curious, because I know the answer.
By whining about this without actually delving into it, you're just showing yourself to be the hypocritical partisan we know you to be, not to mention again showing your utter lack of business acumen.
By the way, I know you think "Lear Jet Liberal" is clever, but again, Lear Jets really just aren't that hot (for those with resources, of course).
I recognize the fact that Berkshire Hathaway admits the IRS is going after them for unpaid taxes and that they cut a deal for a few years and are still negotiating with the IRS. Do you think they are lying to their shareholders about not paying their taxes?
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"Some guys play in all-star games, some guys don't. I don't know who picks all those all-star teams. In all honesty, I don't know who picks the combine, for that matter," Belichick said. "How does (Miami-Ohio offensive lineman Brandon) Brooks not get invited to the combine? How did Vollmer not get invited to the combine? I don't know. We can't really worry about that. We just have to try to evaluate them the best we can."
I recognize the fact that Berkshire Hathaway admits the IRS is going after them for unpaid taxes and that they cut a deal for a few years and are still negotiating with the IRS. Do you think they are lying to their shareholders about not paying their taxes?
Thanks for continuing to show both how little you understand about running a business and how little you care about facts when it comes to your narrow political ideology.
Large, complex corporations don't file EZ forms. As I know you're aware, the tax code is a bit complex -- but apparently that's lost on you now (conveniently).
Huge difference b/t the "IRS going after them" and "negotiating."
When you decide to look at what, exactly was said in the annual report, let us know. Until then, this is yet another non-issue trash thread you've started, just because a rich man left your beloved pubbies' plantation.
You've also conflated the issues of Buffett's personal taxes and the taxes of the public corporation he's the head of. But, again, that's no surprise -- only question is whether it's due to your confusion or if it was intentional out of partisanship.
Thanks for continuing to show both how little you understand about running a business and how little you care about facts when it comes to your narrow political ideology.
Large, complex corporations don't file EZ forms. As I know you're aware, the tax code is a bit complex -- but apparently that's lost on you now (conveniently).
Huge difference b/t the "IRS going after them" and "negotiating."
When you decide to look at what, exactly was said in the annual report, let us know. Until then, this is yet another non-issue trash thread you've started, just because a rich man left your beloved pubbies' plantation.
You've also conflated the issues of Buffett's personal taxes and the taxes of the public corporation he's the head of. But, again, that's no surprise -- only question is whether it's due to your confusion or if it was intentional out of partisanship.
They didn't pay their "fair share", bottom line spin aside as you defend you Lear Jet Lib hero.
BTW why does he pay his accountants and tax attorney's their job is to comply with the law. You think Mr Buffet the person who feel the rich should pay would instruct his people to err on the side of caution to ensure he wasn't cheating the taxpayers, he also should have had his people pay what was due rather than trying to screw the taxpayers, by fighting the IRS in a negotiation.
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"Some guys play in all-star games, some guys don't. I don't know who picks all those all-star teams. In all honesty, I don't know who picks the combine, for that matter," Belichick said. "How does (Miami-Ohio offensive lineman Brandon) Brooks not get invited to the combine? How did Vollmer not get invited to the combine? I don't know. We can't really worry about that. We just have to try to evaluate them the best we can."
They didn't pay their "fair share", bottom line spin aside ....
False.
Keep pretending that you aren't aware of what's going on here. Your partisanship is plain as day.
Quote:
Originally Posted by patsfan13
...as you defend you Lear Jet Lib hero.
...
And as you attack the wealthy man because he wandered off your pubbie plantation.
btw, your lear jet librul moniker remains stupid. Ask any wealthy republicans which jets they fly.
Quote:
Originally Posted by patsfan13
...BTW why does he pay his accountants and tax attorney's their job is to comply with the law. ...
Why does he pay accountants and tax attorneys? What -- do you think he should be filing Berkshire Hathaway's taxes?
Keep showing your blind partisanship.
Quote:
Originally Posted by patsfan13
... You think Mr Buffet the person who feel the rich should pay would instruct his people to err on the side of caution to ensure he wasn't cheating the taxpayers, he also should have had his people pay what was due rather than trying to screw the taxpayers, by fighting the IRS in a negotiation.
Nobody is being screwed, and nobody is being "cheated." If there were, it wouldn't be a negotiation, and you'd see criminal charges.
And keep conflating his personal returns with corporate. In the corporate world, a CEO has a responsibility to shareholders -- are you aware of that concept?
6Likes
Warren Buffett, hypocrite
. That would tell a different story.
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