Report: Buffett's Berkshire Owes $1 Billion In Back Taxes

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Joe Biteme said:
Do really think Buffett will pay it????

I bet Berkshire gets on of those Obama waivers.
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Please. Buffett won't pay it. The shareholders will pay it. Granted, Buffett owns a substantial portion of the company, but so does your pension plan, many mutual funds, and thousands of individuals.

Corporations are inanimate objects owned by people. Corporations don't pay any taxes...the shareholders do in lower earnings or value, and customers do in higher prices for the corporations goods and services.

Buffett stepped in a pile of poo when he brought up higher taxes. I say, let him pay all he wants on a personal basis. On the other hand, when it comes to his stewardship of corporate assets...don't pay a dime more than the dumbassed tax law requires.
 






He isn't saying the corporation isn't going to pay any taxes, the corporation is disputing the computation of the IRS. Example: I was audited for 2004 and 2006. The letteers received in each case said I 'owed' a specific amount. By contesting that, I wasn't trying to avoid my tax, I simply questioned the way they calculated it. So when someone says he's 'embroiled in a tax dispute, it simply means his company is presenting their side of the claim.
I think you giuys know this and there are bett0er ways than this to take a shot at Warren Buffett than this.
 






Vagitarian said:
He isn't saying the corporation isn't going to pay any taxes, the corporation is disputing the computation of the IRS. Example: I was audited for 2004 and 2006. The letteers received in each case said I 'owed' a specific amount. By contesting that, I wasn't trying to avoid my tax, I simply questioned the way they calculated it. So when someone says he's 'embroiled in a tax dispute, it simply means his company is presenting their side of the claim.
I think you giuys know this and there are bett0er ways than this to take a shot at Warren Buffett than this.
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You're exactly right. Buffett has been the preeminent master of building wealth for shareholders, and it's never been any secret that he does it by finding every strategic (including taxes) advantage imaginable. He's simply brilliant at that game, and he has no incentive to be less than straight up on every aspect of his business. His business practices have been beyond reproach.

Where his logic gets derailed is on the personal income tax side when he declares that the big rich guys should be taxed, while he forever and permanently denies the federal government the taxes on his fortune of unrealized capital gains that will never be taxed because he gave it to charity. He's opened up a can of hypocrisy that I suspect he never expected.
 






4DView said:
You're exactly right. Buffett has been the preeminent master of building wealth for shareholders, and it's never been any secret that he does it by finding every strategic (including taxes) advantage imaginable. He's simply brilliant at that game, and he has no incentive to be less than straight up on every aspect of his business. His business practices have been beyond reproach.

Where his logic gets derailed is on the personal income tax side when he declares that the big rich guys should be taxed, while he forever and permanently denies the federal government the taxes on his fortune of unrealized capital gains that will never be taxed because he gave it to charity. He's opened up a can of hypocrisy that I suspect he never expected.
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You're exactly right. He's a wonderful philanthropist and a very smart businessman.
 






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