Warren Buffet earns his money the old-fashioned way: by manipulating the Federal Government.
...Sen. Ben Nelson, D-Neb., a Berkshire Hathaway investor, “bragged at a Chamber of Commerce meeting that he took advice from Warren before he voted for the Wall Street Bailout.
Ummhnnnhh, yah. So then what happened?
As economist Susanne Trimbath points out, “We may not want to look too closely at where [Buffett’s] money comes from – like the 15 percent return he’s earning on the $5 billion investment he made in Goldman Sachs the week before they got a $10 billion bailout; or the fact that Berkshire Hathaway was the largest shareholder in American Express Co. when they received $3.4 billion from Uncle Sam.”...
No, he's not the only one. But he sure likes to talk about increasing taxes.
Guilty conscience at work....
Yep, feel you pain, Please read
ReplyDelete"The real Buffett Rule: Tax cuts for corporate jets"
http://campaign2012.washingtonexaminer.com/blogs/beltway-confidential/real-buffett-rule-tax-cuts-corporate-jets/476816
Ohio Rino Republicans Pat Tiberi and Rob Portman join Warren Buffet to screw over the Taxpayer.
Buffett gets special designer taxbreak and avoids the TSA with corporate jets, and we overtaxedpayers get stuck with the TSA & Warren groping us at the same time. TSA wants our junk & the parasite Warren Buffet wants out taxmoney
Let them eat Cake!
Good for Buffet for using capitalism to his advantage.
ReplyDeleteOtherwise, if you're down pouting, what should be done to curb this alleged malfeasance?
like the 15 percent return he’s earning on the $5 billion investment he made in Goldman Sachs the week before they got a $10 billion bailout
ReplyDeleteI notice that neither your link nor any sources linked from that "source" provide any source to back up this assertion.
Goldman issued preferred stock to Buffet. You can Google it, if it's not too much work for you.
ReplyDeleteHe did the same with GE. Billions in preferred stock when the general needed some cash. Let's not forget that if Warren wants to pay more taxes, all he has to do is write a check to the IRS.
ReplyDeleteRight Neomom,
ReplyDeleteIts Voluntary!
Warren can volunteer to pay more!
Listen to Harry Reed in the attached Video
Harry says......
Paying income tax in America is Voluntary....
http://www.youtube.com/watch?v=R7mRSI8yWwg
if Warren wants to pay more taxes, all he has to do is write a check to the IRS.
ReplyDeleteAh jeez! If you think that you are paying too much taxes, all you have to do is just pay less.
Harry says......
ReplyDeletePaying income tax in America is Voluntary....
As inarticulate as Senator Reid is, what he really means is what any IRS agent will tell you: the US tax system relies on "voluntary compliance".
Nobody comes to your house and makes you fill out your tax return. Nobody puts a gun to your head and makes you write a check. Yes there are penalties for not paying your taxes, but you may or may not get caught if you don't pay what you owe. The IRS can't audit every return. Therefore, it works on the premise that the vast majority of tax payers will voluntarily comply with the tax code.
From the Free Dictionary:
The U.S. tax system, which the IRS oversees and administers, is based on the principle of voluntary compliance. According to the IRS, this means "that taxpayers are expected to comply with the law without being compelled to do so by action of a federal agent; it does not mean that the taxpayer is free to decide whether or not to comply with the law."
Reid is inarticulate but his inquisitor is an ignoramus.
Dad,
ReplyDeletedid you see this one?
http://voxday.blogspot.com/2012/04/exits-close.html
........... however harsh the crackdown, however totalitarian the government, strict tax enforcement never works because its objectives are inevitably based upon a static revenue model that fails to account for Man's unwillingness to work and to obey the law when the state claims an excessive share on the fruits of his labor.
Paying the minimum in taxes is NOT voluntary. However, paying extra IS voluntary. The IRS has a special PO Box for voluntary donations. If Warren Buffet is feeling like he should give more he could either a) fire all his tax accountants and do them himself or b) just write a damned check and shut up.
ReplyDelete