cancel
Showing results for 
Search instead for 
Did you mean: 
Highlighted
Veteran Advisor

Warren Buffet says he doesn't pay enough taxes

Well, according to the NY Post, that might be because he DIDN'T pay all his taxes.  According to the article, he owes back-taxes from as far back as 2002.

I just wonder if he'll be able to negotiate a better deal than us peons would be able to get.  I have a feeling if I owed taxes back 9 years that I'd be in 'heap big trouble' as Tonto would say.

 

 

http://www.nypost.com/p/news/opinion/editorials/warren_buffett_hypocrite_E3BsmJmeQVE38q2Woq9yjJ

 

 

4 Replies
Highlighted
Veteran Advisor

Re: Warren Buffet says he doesn't pay enough taxes

He personally doesn't owe the taxes, his company does.  Don't think that is the same thing.

Highlighted
Veteran Advisor

Re: Warren Buffet says he doesn't pay enough taxes

If the company decides not to pay the IRS what it wants, who do you think they'll go after?

 

He is the #1 shareholder in the company, and the one who calls the shots, so I would say it falls on his shoulders.

 

If Nebrfarmr Farms, Inc.  would owe the taxes, and a Mr. Nebrfarmr was the majority shareholder, I would expect they would be going after Mr. Nebrfarmr.

 

I heard an announcer on the radio comment the rumor going around Omaha was that something close to a Billion dollars total were owed.   But for now, just rumor.


However, if true, it would put Mr. Buffet in a pickle, because to get that billion, he'd have to cash in some stock, which would raise his capital gains (if it were Berkshire Hathaway stock, it would be over 90% capital gains), which would lead to another big tax bill.  Probably explains why they are negotiating the terms on paying it off.

Highlighted
Honored Advisor

Re: Warren Buffet says he doesn't pay enough taxes

Yeah, maybe if Buffett would pay what he owes in taxes he wouldn`t think that he`s so undertaxed Smiley Very Happy   We had a politician that was a bit of a `landbarron` and got behind with his property taxes and his name was in the paper. The area joke was `If he`d pay up his taxes the county wouldn`t be in trouble`. 

Highlighted
Senior Advisor

Re: Warren Buffet says he doesn't pay enough taxes

Buffet is just another tax cheat liberal democrat. The party of the rich, by the rich, for the rich.