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Berkshire Seeks To Avoid 2013 Tax Hike, Buys Back BRK Shares

Tyler Durden's picture





 

Define irony: when the most vocal supporter of a dramatic change to the existing tax policy takes advantage of the last few days of the old one...

  • BERKSHIRE HAS PURCHASED 9,200 OF CLASS A SHRS AT $131,000-SHR
  • BERKSHIRE RAISED PRICE LIMIT FOR BUYBACKS TO 120% BOOK VALUE
  • BERKSHIRE MAY BUY ADDED SHRS AT NO MORE THAN 120% BOOK VALUE
  • BERKSHIRE BOOSTS BUYBACK PRICE LIMIT TO 120% BOOK VALUE VS 110%

A total $1.2 billion spent to avoid a few hundred million in new taxes. And now back to the hypocrticy of the "Buffett tax", and "Patriotic Millionaires for America." In other news, total donations to pay down the debt in Fiscal 2013 (starting October 1): $290,195.03.

Full release:

Omaha, NE (NYSE: BRK.A; BRK.B)—Berkshire Hathaway has purchased 9,200 of its Class A shares at $131,000 per share from the estate of a long-time shareholder. The Board of Directors authorized this purchase coincident with raising the price limit for repurchases to 120% of book value. Berkshire may purchase additional shares in the market or through direct offerings at no more than 120% of book value.

 


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Wed, 12/12/2012 - 10:47 | Link to Comment trav777
trav777's picture

These aren't the droids you're looking for

Wed, 12/12/2012 - 10:55 | Link to Comment monkeyboy
monkeyboy's picture

Aye.

 

Do as I say not as I do.

Wed, 12/12/2012 - 10:57 | Link to Comment HoofHearted
HoofHearted's picture

Fuck you, Warren Buffett!

No, we haven't forgotten about you, Bernank.

Wed, 12/12/2012 - 11:01 | Link to Comment Looney
Looney's picture

Buffy the Vampire

Wed, 12/12/2012 - 11:05 | Link to Comment N. B. Forrest
N. B. Forrest's picture

Evil hypocrite.  I used to respect the guy.  But he's completely gone over to the dark side. 

Wed, 12/12/2012 - 11:16 | Link to Comment monkeyboy
monkeyboy's picture

He was always the dark side.

Search your feelings. You know it to be true.

 

 

Wed, 12/12/2012 - 11:27 | Link to Comment N. B. Forrest
N. B. Forrest's picture

heh... heh...  you are probably right.  He just hid it quite well for so long. 

Wed, 12/12/2012 - 12:26 | Link to Comment Tippoo Sultan
Tippoo Sultan's picture

Warren Buffett announces appointment of new manager to run a portion of the financial conglomerate's equity sleeve. Footage courtesy of Berkshire Hathaway:

http://starwars.com/watch/encyclo_unlimited_power.html

Wed, 12/12/2012 - 20:03 | Link to Comment strannick
strannick's picture

And he's stumping for J. Dimon as new Treasury Secretary.

Wed, 12/12/2012 - 10:48 | Link to Comment GetZeeGold
GetZeeGold's picture

 

 

Only Warren's secretary pays real taxes.

Wed, 12/12/2012 - 11:04 | Link to Comment dolph9
dolph9's picture

Yeah but she probably gets alot of unreported cash income through behind-the-desk action.

Wed, 12/12/2012 - 11:30 | Link to Comment krispkritter
krispkritter's picture

Becky is gonna be so pissed...

Oh, and Fuck You BuffNanke!

Wed, 12/12/2012 - 13:08 | Link to Comment Chuck Walla
Chuck Walla's picture

really? Are we to marvel at Uncle Warren being a cynical old hypocrite?  Or maybe Becky needs some new diamonds to urge on her efforts with that flaccid old tool.

 

FORWARD SOVIET!

Wed, 12/12/2012 - 10:48 | Link to Comment darteaus
darteaus's picture

"Raise taxes on the other rich."

-  Warren Buffet

Wed, 12/12/2012 - 10:57 | Link to Comment Jim B
Jim B's picture

I despise the hpocritcal troll!!!

Wed, 12/12/2012 - 10:58 | Link to Comment FL_Conservative
FL_Conservative's picture

Socialism is for the PEOPLE, not the ruling class.

I don't know when the average person is going to finally realize that these people (the crony capitalist and their political puppets) don't give a flying FUCK about their welfare.  The ONLY thing they care about is how THEY can get enriched.  As I said yesterday, they're every bit as bad as union leadership.  And until we out-manuver them.....somehow.....NOTHING will ever change.

Wed, 12/12/2012 - 11:00 | Link to Comment Vashta Nerada
Vashta Nerada's picture

Marx chose his words carefully.  Note that he said dictatorship of the proletariat, not dictatorship by the proletariat.

Wed, 12/12/2012 - 11:02 | Link to Comment otto skorzeny
otto skorzeny's picture

it is getting to seem like carrions picking over a carcass-which is ironic in the US since the eagle is a carrion.

Wed, 12/12/2012 - 10:53 | Link to Comment Dr. Engali
Dr. Engali's picture

Fucking hypocrite ...just goes to show that in the words of Leona Helmsley... taxes are for little people.

Wed, 12/12/2012 - 11:04 | Link to Comment BurningFuld
BurningFuld's picture

No Shit...Buck up Uncle Warren and throw a few Billion in that tax fund you dick. Unless of course you think the money could quite possibly just be squandered?

Wed, 12/12/2012 - 10:48 | Link to Comment spastic_colon
spastic_colon's picture

buffett is an effing blowhard.....plus the buyback will boost earnings....what a dick

Wed, 12/12/2012 - 10:51 | Link to Comment darteaus
darteaus's picture

When Warren Buffet - the only billionaire from investing - starts playing politics, then one can only assume that: It now pays more to play politics than invest.

Wed, 12/12/2012 - 16:47 | Link to Comment Freddie
Freddie's picture

Buffett's old man was a Repub Senator from Nebraska.  Buffet is a Dem and O lover.  His investing skills are really skills on gaming the govt and the tax system.  He has not beaten the S&P like most hedge fund scum.  Stevie Cohen beats the S&P because he trades with insider information.

 

Wed, 12/12/2012 - 10:53 | Link to Comment Vashta Nerada
Vashta Nerada's picture

In a sane world Buffett would already be serving a sentence for insider trading over his actions in 2010.

Wed, 12/12/2012 - 10:59 | Link to Comment otto skorzeny
otto skorzeny's picture

why-when they can fry small fish like Martha Stewart and G-Rod?

Wed, 12/12/2012 - 10:51 | Link to Comment Cursive
Cursive's picture

It's a good thing for them that Buffy and Munger are old.  When the real violence starts, they'll probably both be in the grave already.

Wed, 12/12/2012 - 10:58 | Link to Comment otto skorzeny
otto skorzeny's picture

just die old man

Wed, 12/12/2012 - 11:49 | Link to Comment Joe Davola
Joe Davola's picture

He probably has it worked out that he'll check out this year just to avoid the increased estate taxes - for the rest of them evil richie riches.

Wed, 12/12/2012 - 10:58 | Link to Comment Richard Head
Richard Head's picture

Buffett: just die already.

Wed, 12/12/2012 - 11:00 | Link to Comment otto skorzeny
otto skorzeny's picture

my thoughts exactly

Wed, 12/12/2012 - 10:59 | Link to Comment Flakmeister
Flakmeister's picture

Any billionaires recently kicked off?

Notice how it said "estate"....

Wed, 12/12/2012 - 11:00 | Link to Comment caimen garou
caimen garou's picture

why should that surprise anyone, talks the talk but the buffets will not walk the walk!

Wed, 12/12/2012 - 11:09 | Link to Comment Mercury
Mercury's picture

Sorry but how is a company buying back its own shares with post-tax money a tax dodge?

Wed, 12/12/2012 - 11:06 | Link to Comment swissaustrian
swissaustrian's picture

Presenting:                             

 

                                  The tax pyramid

             Top .1%: tax exempt/bailout money receipients

                        Top 5%: taxed at 10% or lower

                 middle class: taxed like soviet debt slaves

poor: receiving transfer money from the middle class debt slaves

 

 

Wed, 12/12/2012 - 11:13 | Link to Comment Mercury
Mercury's picture

The shape you describe is not that of a pyramid but rather the silhouette of someone with a big, fat ass.

Wed, 12/12/2012 - 12:15 | Link to Comment trav777
trav777's picture

top 5% is like 1.6M in 2009...you HONESTLY think people in this echelon really pay 10% tax or less?  WTF are you smoking?  It is precisely these people, who would generally be in the high %iles in income who ARE paying almost ALL of the taxes.  The so-called "middle class," aka everyone below top 10%, pay next to jack in taxes.

Wed, 12/12/2012 - 11:16 | Link to Comment TideFighter
TideFighter's picture

"Warren, blow my horn and stick that ukulele up your ass."

You've been working on the railroad alright, railroading the fucking rest of us.

http://www.marketsqueeze.com/2012/01/23/warren-buffett-playing-the-ukule...

Wed, 12/12/2012 - 11:22 | Link to Comment Seasmoke
Seasmoke's picture

All you can eat Buffett..... What a fucking pig !

Wed, 12/12/2012 - 11:25 | Link to Comment semperfi
semperfi's picture

BUFFET is just another Marxist, along with Soros.

Wed, 12/12/2012 - 11:49 | Link to Comment mrdenis
mrdenis's picture

Becky Q is sittin' on Warrens fat finger 

Wed, 12/12/2012 - 11:52 | Link to Comment Rentenmark
Rentenmark's picture

Buffet is not the only hypocrite.  I know another Barry supporter who owns a business.  Guess who is trimming their workforce to get below 50 people to avoid Obamacare penalties? You guess it, vote the guy in and then do all you can to not pay for what you voted for.  

Wed, 12/12/2012 - 11:56 | Link to Comment MFLTucson
MFLTucson's picture

Whatever the con man and his minions can do to avaoid taxes so you have to pay more is what that POS Buffett will do.  He is a phony and a crook.

Wed, 12/12/2012 - 12:14 | Link to Comment Intoxicologist
Intoxicologist's picture

The Orsehole of Omaha.

Every day the shit just keeps getting deeper and deeper.  It's hard to be surprised by anything any more.  Pissed off, yes.  Surprised, nope.

Wed, 12/12/2012 - 12:46 | Link to Comment devo
devo's picture

I wish this fucker would die already.

Wed, 12/12/2012 - 13:04 | Link to Comment dscott8186
dscott8186's picture

I can only smile at the gullibility of the majority of voters who elected Obama. Demonstrated once again for the thousandth time, the complicit agreement between the monied supporter and the Democrat politician.  

Remind us again why Obama was against the Keystone Pipeline deal that would have employed thousands at no cost to the taxpayer?  Why Mr. Buffett who owns shares in the railroad transporting oil from the North Dakota Bakken oil fields would suffer a loss of revenue IF said pipeline were built.  

"NEVER GIVE A SUCKER AN EVEN BREAK."

W.C. Fields

Now you should understand why Obama supports the NEA, a teacher's union that encourages failure to the point 50% of the kids don't graduate high school in Obama's Chicago's home district.  Keeping America stupid to be continually fleeced is the goal of the Democrat Party.  I guess you could call this a successful strategy if it weren't so insidiously self centered.

Wed, 12/12/2012 - 15:47 | Link to Comment NuYawkFrankie
NuYawkFrankie's picture

Re Berkshire Seeks To Avoid 2013 Tax Hikes....

Berkshire SNEAKS To Avoid 2013 Tax Hike...  - Fixed

Wed, 12/12/2012 - 16:00 | Link to Comment kragsquest
kragsquest's picture

And Warren does not appear to be buffetted by the media, much.  We know he has been dodging taxes for years....

HOW MUCH IS BUFFETT’S BERKSHIRE HATHAWAY BACK-TAX BILL EXACTLY? ABOUT $1 BILLION

http://www.theblaze.com/stories/how-much-is-buffetts-berkshire-hathaway-...

 

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