Warren Buffett’s tax-hike hypocrisy
There’s been no more consistent shill for the Obama administration than the super-rich Warren Buffett. With Obama’s consistent appeals for raising taxes on “millionaires and billionaires,” the voice of someone who would be affected by those tax increases seemingly adds credibility to the argument.
But here’s the thing: Warren Buffett owes back taxes going back to 2002! His corporation, Berkshire Hathaway, has unresolved tax issues that go back almost a decade!
It’s a free country, and Warren Buffett is free to voice his support for Pres. Obama. He’s also free to try to keep his company’s taxes as low as possible. In fact, I’d expect nothing less from someone who has acquired the wealth that Mr. Buffett has over his lifetime. That being said, it’s blatantly disingenuous to claim that you want to pay higher taxes when, in fact, you owe the IRS for almost 10 years of tax revenue!
This hypocrisy is indicative of the culture of the left. They want to grow the size of government, and they want to do it with other people’s money! At the end of the day, Warren Buffett knows what he’s not willing to say: higher taxes is bad for business. If we really want to restart this country’s economic engine, government needs to get out of the way of job creation in the private sector. Obama’s call for higher taxes on “millionaires and billionaires,” by which he means anyone making $250,000 or more, will only continue to hurt this economy.
And using Warren Buffett as a mouthpiece belies the fact that even the President’s most ardent supporters don’t really believe in his economic policies.
51 Responses to “Warren Buffett’s tax-hike hypocrisy”
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Hey Warren, start by paying what you owe!!
I’ll vote for that. I have never been able to understand this attraction the American people have had for Buffett. Something happened a few years ago so that people became enamoured with making money, and Buffett was a money maker – with other people’s money. He’s a con man from the “git go”. Pay up Warren, then you MIGHT have some legitimate position to talk about others paying taxes. Even if we know that forcing others to pay more taxes benefits your bottom line. Hypocrite!
I have lost a lot of respect for Warren Buffett. He should practice what he preaches.
it’s so EASY to take/spend other people’s money.
Warren, if you actually want to help reduce our defecit, write a personal check to to IRS, it’s easy to do.
you are a hypocrite.
I would like to challenge all of those liberals in Congress that think the “rich” should pay higher taxes to lead by example. How much money do you think people like Comrade Chairman Osama bin Bite-me, John Kerry, Dianne Feinstein, Nancy Pelosi et.al. pay to accountants to minimize their tax liability? By their own standards these people and many of their comrades are “rich”. Does anyone else see the hypocrisy here? People like this who want to raise taxes on others should raise their own taxes first If they are to have any credibility at all. Trust me the IRS will not object.
Don’t forget our President who also is also for raising taxes on the rich. While Pres. Obama should be paying 35% he only paid 26.5% in 2010. Prove to me he does not use the same loopholes.
How about Soros who moved his corporate headquarters to the Caribean island to avoid paying U.S. taxes?
There sure seems to be many of Obama’s rich friends that get away with paying little to nothing in taxes.
Why does this not surprise me. It always blows my mind that people Buffett’s age will willingly support a Socialist agenda when they have lived long enough to fully understand what Socialism has done to every society where it has been instituted. How is it that we even have people like this living in this country when there are so many countries that they can choose to live in that meet their ideals, like Russia, China and for those without Buffett’s means just a short boat trip to Cuba. I am sure these countries will welcome these Socialist with open arms and they will most certainly be very happy to distribute all of their wealth.
You are correct. Buffett is another obama lap dog, like Iimmell of GE. Buffett is getting inside information and deals on his investments. Buffett bought part of B of A because he knew the feds were going to dump more money into the bank. They have sold their soul to the devil. Obama has now accumulated the following: Kenyan, Marxist, Muslim, Soros-union controlled dictator with ever passing day. Can treason be applied to any of these players?
VOTE OUT THE RICH
Great Piece and at a very good time. My sister brought this up to me just recently and I said to her “then let Buffet put his money where his mouth is and pay more taxes. It probably won’t help our financial situation, but it might ease his conscience.
Warren Buffet this is the United States of America not Warren Buffets America. This country belongs to we the people and not you.
Warren has been dodging his fair share of taxes for years. This is why he’s so rich. He’s a mouthpiece for Obama because his tax dodging scheme falls in line with the far left policy. Suck it up Warren and get out your checkbook if you think rich Americans should pay more taxes.
How come the IRS hasn’t put pressure on Buffet?
Where can information about people that have NOT paid their Income Taxes be proven?
The left Hypocritically rants about taxing the rich and then allows their left wing rich frends to get by without paying taxes. We have allowed them to take over our government. We must take it back in 2012. Get busy friends of freedom!
Why are men like Buffett and Soros being such hipocrits? They should just shut up and get out of the way.However, they should be forced to pay their back taxes on the way out.Force all of those in congress to come clean, along with Mr. Obama.Is it any wonder that our Nation, that was founded on a belief in God, is being undermined by a bunch of “Greedy Hipocrit’s”. I, at one time owned Bershire-Hathaway stock but sold it because I did not want to be a part of this type of individual, no matter the monetary return.
How often does a liberal or leftist lie whether they are rich, middle class, or poor? The answer is everytime they open their mouths, they are hypocrites, and generous with everybody else’s money except their own.
There r lots of legit criticisms of Buffet but fact that BH has open IRS audits going back 9 yrs is not one. It takes IRS 5 yrs just to get around 2 a corporate audit & several more to resolve adjustments IRS proposes. This is very typical. Plus, Buffet is only one BH shareholder. He can’t make BH cave to IRS claims or other s/hs will sue him.
I believe that the income tax rate should be the same for investment income as for earned income. Earned income is made by atleast doing some kind work. Capital gains are just being at the right place at the right time. I am not against capital gains just I cant see two different rates.
You are all ready taxed on the money why should you be taxed again? There should be no capital gainis tax period! Any time you have paid taxes such as payroll taxes you then take that money and make money you should not have to pay taxes again period!
The Warren Buffet story is being touted around the world especially in India where they think what a great man this is, helping out America by wanting to pay taxes. Bet this story about his owing back taxes is not going to make the news in India or anywhere else. All these millionaires/billionaires talk a whole lot, but not a one walks the talk. Pelosi, Gates, Buffet, Soros (the worst of the lot), Trumka, et al, get into line and start redistributing your wealth and save the country and people you say you care about. Actions speak louder than words.
America is in quite a pickle on one hand you have a president who will do anything to keep power and work around Congress. In his camp you have the poor down trodden at least that is what he would have you believe, and any one not borne hear legally or not.
His last push to stop deportations could help democrats to get the illegal vote to the polls.
This is a plan that has been in the works for decades, very few know this and very few can stop it. The Left has amassed a fortune, on the back of Union members who have no recourse but to pay fees. Fees that have been collected and used for political gain.
There is a perfect storm brewing and if it hits God help us all.
Warren, if you want to pay taxes so much–gp ahead! I am sure the Obama people will be willing to accept your money. Personally, i can’t draw on billions as you can so cool it.
This is “The pot calling the kettle black”, in other words… Rich Liberals and Obama alike, think alike. Their social / economic policies:
1. Class warfare
2. Socialism
3. Demonizing the wealthy
Those who tried all that failed their people: Stalin, Hitler, and now Obama is in the process of the same failures. History repeats itself, to the demise of those who have short memories!
I wonder how many times Pelosi and Ried have been audited, for that, all of those RICH milionaires in congress,incl. Kerry who docked his boat in another state to avoid taxes in Mass., these are the same people who voted themselves 30% raises in 2009 and 2010 while denying Soc. sec. recipiants a COLA yet raise part B premiums and causing supplement premiums to go up as well, this means Soc. sec. recipiants actually took a cut. Most of Cogress is two faced, take it from the average Joe, but don’t touch mine.
Buffett has been blabbering about paying more taxes in support of Obama’s and the Leftist CONgress for weeks. If Buffett wants to pay 34% of his income or that of Berkshire Hathaway, he can Voluntarily write that check for another $7M payable to UNCLE. He doesn’t need to be billed for it by the IRS. Smart People Can Be REAL Maroons! By the way $7M is a P-hole in the snow compared to our budget deficit and Engorged DEBT
Another socialim,liberial thinker, Mr Buffett knows he would be free of taxes because of his tax loops for his corp. It would only serve to tax more people making 250,000.00 or more not the super rich with all their tax loops lets close those loops and then see how much Buffett would then be paying. Oboma has to go with his liberial buddies in the senate and congress, or nest we’ll see musslin law passed in America and loose our Consitution that protect Americans.
Also when most of your expenses are written off as business expenses talk is cheap Warren do all a favor a shut your pie hole!
If Warren Buffet is so concerned about the financial ability of Federal Government to function because of lack of funds, why did he not give to the government the “millions of dollars”
he contributed to the Bill & Melinda Gates Foundation? This only proved
my own observation that Democrats like to
spend other peoples money to help the less fortunate among us. (So long as it is not their own money.)
On what basis do we KNOW that BH owes back taxes? Where did this information come from?
No More Bailouts, to banks or anyone if you purchase a home that really was out of your income bracket and now cannot make the payments because you overbought and fell for that line of, oh you will double your salary in five years and you agreed. I never meet to many persons that ever double there income in five years. if they did most of them overspent that.
So we feel sorry for them but they could have bought a much less expensive home. So NO to Bailout for banks an mortage companies.
Tax,tax,tax,,Tax obama 100% of his income he is not earning it,he is taking from hard working people,giving it to his buddies and thoes who don’t want to work for it.
I don’t understand why everyone keeps overlooking the real agenda. If you make millions or billions your tax people will make sure your income is protected. Make a campaign contribution and get your own private loophole added to the tax code. How does everyone think the tax code got so big.
Even taxing Warren Buffett at 100% would only get a very small portion of his total income. Increasing the rate on a corrupt system just gives those with power more targets to do favors for in return for support or contributions.
The only real answer is elimination of all the loopholes. Mention a flat tax with all of their exemptions and special provisions gone and see how they howl.
Pete, you make one of the most astute points about the nature of our tax system. The tax breaks amount to calculated bribes…and a huge amount of leverage they have over us all to some degree. Good point!
Buffett should put his money where his mouth is and liquidate his holdings giving all the proceeds to the government. Then we would not have hear his idiotic statements about giving more ever again.
Well Warren, Pony up! Get out your check book and start paying those taxes from the last decade and then donate another couple of Billion to the US Treasury. Then we can start to believe your double-speak! This guy, Warren, is in neck deep like Immelt! The hypocrisy of the left is over the top. What amazes me is, these leftist buffoons are the ones dodging the same things they are advocating to impose on US! Wow – Really dude? Pathetic!
I’d like to see the Warren Buffets of the world advocate for a “Wealth” tax which would affect every so called rich person. This would even capture Pelosi, Kerry, Et Al. I believe this might quiet the crys for the “rich” to pay their share.
Warren Buffet, George Soros and Mayor Bloomberg all are insurrectionists and need to be completely investigated and jailed for bilking Americans as well as for violation of their sworn duty to uphold the laws and the USA as well as the Constitution.
Warren Buffet is just another limousine
liberal, champagne socialist, Mercedes
marxist, hypocritical elitist pig!
I am SO sick of wealthy left-wingers
trying to make me pay more in taxes while they dodge the tax bullet every
way they can! Buffet, get out your
checkbook and write a check to the IRS
if you have even a modicum of integrity.
Lead by example or shut up!
I am ashamed to find how the liberals, the Obamas, the Pelosis, the Franks, the Reids, take care of their own. And in politics, it should be expected. However, the transfer of wealth should not be with our taxpayer’s money. Or it could be as simple as disguising the swindle as an Economic Stimulus package. The money is transferred to Unions and Special Interest groups. Then these monies find themselves back into the pockets of the politicians who are supporting these groups. So, the National economy continues to decay, the unemployment continues to hover around 10% and finally the plan to take from those who have it, and bring the Nation to its knees, is put in motion. There may be only one thing that could derail this master plan before our Nation turns the final corner – it is the General Election next November. We need to awaken from this nightmare and vote these terrorist out of office. Then we can begin the recovery and save our real American way of life.
Buffet’s failure to pay taxes helps prove our point that lower tax rates help businesses to grow. Of course his is extreme if true.
A very good point Ira! As a nation, we are tinkering with the successful part of our formula, and adopting new formulas that are proven failures. I take the Prez at his word that he wants to transform the country…by killing it’s success, perhaps?
250,000.00 =’s Millionaire?
WOW the public schools are really bad at math!
I thought 1,000,000.00 = millionaire
But then again Its been a long time since I was in school.
Musilems don’t have loopholes.Thay are required to keep them selves in poverty just to further the jehad
The word “rich” is about like “pornography”—-it is in the eyes of the beholder. Uncle Shaftstein, in the guise of the Obama reptilian regime can define “rich” as anyone who produces. Right out of the pages of Mordechai Levy who is better known by his nom de plume of Karl Marx….the whole idea here is to wipe out the very last trace of the few creative mentalities that yet remain in this country because a truly creative mind is an independent one and that the Mackdaddy cannot tolerate—nor can a nonproductive parasite like Benny the Buttface Bernanke—-or another stink rich idiot, Warren Buffet. The target rings are all painted on the backs of whatever vestigial scraps remain of that once known as the middle class in this palsied country by classifying them as rich while the parasite and nonproductive stink rich will altogether escape that classification by way of the same kinds of loop holes they use to get out of paying the TOTALLY MARXIST federal income tax to that most execrable of all hoaxes in history…the misnomered “federal reserve bank”.
Requiem America
Money is power, as in “if wife makes more than hubby, good chance, in our society, wife wears the pants. Therefore, with every increase in dollars Washington takes from the people, the more anemic we the people are , also in power, and the stronger the rotten, lying, crooked government has become. And even if overnight we handed over 10 trillion $ in increased funds, they would spend all of it, and MORE. The only way to save our country is to SHRINK the government’s size, ergo spending, by 2/3rds. and really govern per constitution.
Warren Buffett is a PHONY. Hey Warren, if you think the government does not take enough money from you, here are a few things you can do:
1) Cut a check to the I.R.S. for additional money over and above what they ask for. They will cash it, and will not try to give it back.
2) Pay your taxes.
I should explain further — I am not
at all wealthy, but when Warren Buffet
and others like him cry “Tax the rich more!” they also mean the middle class,
my strata! It is typical left-speak;
they protect their earnings while
calling for a raid on everyone else’s.
They want to make sure that only THEY
get to be wealthy, because they want
all the money and the power!
I find Warren Buffet is a socialist and Obama lover. I can’t believe he is helping Obama change America,(destroy it) after how he has prospered here. He is the perfect example of hypocrisy and does what it takes to make him richer, at the expense of others.
As a stockholder of Berkshire Hathaway for over 20 years, I do know the corporation has paid a very large sum of taxes. I don’t know about Buffett personally. Basically, I abhor taxes, and believe citizens should strive to make sure political subdivisions always work for the common good with the greatest amount of efficiency. A lazy, uninformed electorate allows the opposite to occur. Concerning the taxation of the rich, I do believe there is value in taxing the very, very rich at a rate of 50%. Once a person has to pay 50% of his income to an inefficient government he will make investments (reduce his tax burden, generate new business, increase employment, etc. The individual will always prefer to place money at risk as opposed to paying the government. When an individual earns (is paid) over $10 million annually, the sin of greed and corruption often creep in. Yes, some people make too much money for their own good. Besides, it would get the damnnable Demorats off our backs about “reducing taxes for the rich.”
Thanks for exposing Buffett’s perfectly legal, yet somehow repulsive, plan to add to his wealth.
I agree with Priscilla above. The extreme
rich should pay their fair share of the
tax burden.
Economist can argue that the less taxes they pay, the funds saved can be used to
invest in capital and create more jobs.
They already have loopholes enough, capital
gains losses, tax breaks to defer taxes.
He should cut a check to help cut the
deficit. Add your comments
Dave Irish, Phoenix,AZ