This page has been archived and commenting is disabled.

Uncle Warren Unhappy With WSJ Claims He Pays Only 10.5% Tax On BofA Dividend; He Really Is Paying A Whopping 14.175%

Tyler Durden's picture




 

Kindly-looking, ukulele strumming, no tax paying, birthday celebrating, grandfather figure Warrenn Buffett is angry...

Omaha, NE (NYSE: BRK.A; BRK.B)—An editorial in today’s Wall Street Journal says that “Berkshire Hathaway will enjoy an effective tax rate of 10.5% on the $300 million in dividends it will receive each year from Bank of America.” That statement is incorrect.

 

Virtually all of the stocks that Berkshire owns are held in its property-casualty subsidiaries, and that will be the case with the Bank of America preferred.

 

The tax treatment for dividends paid by U.S. corporations to property-casualty insurance companies was materially changed by a law passed in 1986. The changes were described in detail in the chairman’s letter included in Berkshire’s 1986 annual report.

 

A minor change in rate was made in 1993. Since that time dividends that insurers receive from U.S. companies incur an effective tax rate of 14.175%. For Berkshire, that rate will apply to dividends it receives from Bank of America.

Well... glad we cleared that up.

 

- advertisements -

Comment viewing options

Select your preferred way to display the comments and click "Save settings" to activate your changes.
Tue, 08/30/2011 - 11:53 | 1615131 DK Delta
DK Delta's picture

Warren Buffett is a sickening hipocrite and I really don't like to hate on people.

Tue, 08/30/2011 - 12:00 | 1615156 BaBaBouy
BaBaBouy's picture

.

A Perfect Mirror Of American UpperClass Unbounded Greed ...

Tue, 08/30/2011 - 12:05 | 1615171 66Sexy
66Sexy's picture

Blood sucking Warren Buffet expecting a profit from banker bailouts. He pays alot less than that, he is GETTING taxpayer money. I hope they fukc him over. BAC will bring all these bastards down with it, once they realize there aint enough taxpayer revenue to bail out BAC, let alone anyone else... 

Wow, wouldnt that be a bitch if everyone took out huge loans, bought physical gold, defaulted those loans, shorted banks, hoarded guns and ammo, and stopped paying taxes?

Do your part to save america.

Tue, 08/30/2011 - 12:16 | 1615229 BaBaBouy
BaBaBouy's picture

.

Drive GOLD to $35,000 and bring Bluffet Et AL Keynesian Elitists All down ...

 

 

Tue, 08/30/2011 - 13:23 | 1615575 TheTmfreak
TheTmfreak's picture

Well if we only raised taxes on the rich then this wouldn't be a problem. Oh wait... Warren Buffet thinks they already pay enough taxes as it is?

 

 

Tue, 08/30/2011 - 13:59 | 1615745 spiral_eyes
spiral_eyes's picture

I am very happy to see Warren Buffett being dragged into the mud. He's about to lose 5 billion because he wanted Becky Quick's ass. I mean I want Becky Quick's ass, but I'm not going to pay $5 billion for it.

http://azizonomics.com/2011/08/26/warren-buffett-credit-anstalt/ 

Tue, 08/30/2011 - 15:20 | 1616121 James
James's picture

When Warrens back-taxes issue surfaced yesterday story went on to state that his Geico Insurance Co. iis in fact an acronym for Government. Employee. Insurance. Company.

The "Oracle" is in fact nothing more than a evil stooge for government to transfer citizens wealth back to them.

To me, the true measure of a man is decided by the direct correlation of the amount of people who want to piss on his grave  at his death.

Tue, 08/30/2011 - 12:22 | 1615283 Ergo
Ergo's picture

Yep.  Bloodsuckers.  A low tax rate for the super-rich, and a high tax rate for the working serfs. 

And Warren gets a phone call with the President first, just to make sure his investment is protected by taxpayers.  It's easy to make money like that. 

And Warren thinks serfs are silly for owning gold & silver.  Not everyone can buy companies, or invest on preferred terms with banks for low taxes and a guarantee from the President. - Go ahead and own common stock in BoA, Warren.  I double dog dare you.

Tue, 08/30/2011 - 14:45 | 1615999 ATG
ATG's picture

This last decade the silver WEB sold outperformed BRK/A 17x, and the AAPL WEB did not buy outperformed BRK/A 79x

http://stockcharts.com/freecharts/perf.html?BRK/A,$SPX,$Silver,AAPL

 

Tue, 08/30/2011 - 18:33 | 1616831 toady
toady's picture

Doing all that except the loan/default.

Tue, 08/30/2011 - 12:01 | 1615173 EscapeKey
EscapeKey's picture

Just another crony capitalist, though he didn't used to be.

Tue, 08/30/2011 - 12:42 | 1615387 topcallingtroll
topcallingtroll's picture

that is also true.

Power corrupts.  Absolute power corrupts absolutely.  This is why we must have limited government and enforce individual liberty over central planning.

Tue, 08/30/2011 - 13:34 | 1615621 Whatta
Whatta's picture

can we say "fuck warren" here?

just curious.

Tue, 08/30/2011 - 13:56 | 1615729 DCFusor
DCFusor's picture

Yeah, we could, but the beginners need to learn why.  It's for their benefit.

Tue, 08/30/2011 - 15:29 | 1616164 James
James's picture

Bullshit EscapeKey.

It's only coming out now Warrens true colors.

He's always been a piece of shit.

You were bamboozled by, once again, MSM

He was always portrayed as a latter day "Midas"

And we foolishly believed that.

 

Tue, 08/30/2011 - 12:12 | 1615235 slaughterer
slaughterer's picture

I miss the good old days when foreign investors could personally meet Warren'n'Charlie at a special session of the Annual Shareholder Conference for Berkshire Hathaway, before heading off to Piccolo Pete's to discuss foreign investment opportunities with good 'ol' Warren over shakes and burgers.  Those were fine occasions.  Now Warren has to sink his money into Bank of America for a lousy $300,000,000 dividend--it is a sign of the times that Warren is either a.) out of ideas or b.) the global economy has no better opportunities for him to make money.   When are Geithner/Bernanke/Obama going to put the ship back on course for Warren 'n' Charlie?   Or will they just have to "suck it up" until they retire and go to the old folks home?   

Tue, 08/30/2011 - 12:17 | 1615254 EscapeKey
EscapeKey's picture

When are Geithner/Bernanke/Obama going to put the ship back on course for Warren 'n' Charlie?

It IS on course for Warren and Charlie. They get to front run major deals/bailouts, and the risk is handed to the taxpayer/thrifty middle class saver.

Tue, 08/30/2011 - 12:35 | 1615360 topcallingtroll
topcallingtroll's picture

Bravo

Because that is exactly what that bloated ugly scumbag did with BAC

Tue, 08/30/2011 - 12:41 | 1615384 slaughterer
slaughterer's picture

Yes, I know that ;-)

Tue, 08/30/2011 - 12:46 | 1615412 Don Birnam
Don Birnam's picture

Tyler -- heading addendum: "The $ 40,000-a-plate-Obama-fundraiser-just-before-the-Bank-of-America-'We do-not-need-to-raise-capital'-capital-injecting-rub-a-dub-dubbing-does-his-dealmaking-in the tub" Warren E. Buffett.

Tue, 08/30/2011 - 14:50 | 1616023 gabeh73
gabeh73's picture

THis hippocrite oligarch motherfucker pays bribes to the government to explicitly excuse his company from taxes while using his media connections to lobby for higher taxes on "rich" families making 150k/year. 7th ring of hell reserved for scumbags like this.

He also knows better, his dad knew what the federal reserve and our monetary system were designed to do(rape the middle classes and the nouveu rich who hope to challenge the oligarchs one day).

THe education system was designed to dumb down the lower 90% so as they become programmed useful idiots who are dependent on the government and the oligarch. The combination of the oligarch and the dumbed down masses were hoped to "build a moat" around the oligarch. This is Warren Buffets plan when he looks at investments...can he get the government to build a moat for his busines to keep out competition.

 

Warren u are going down.

Tue, 08/30/2011 - 11:55 | 1615138 Greater Fool
Greater Fool's picture

Where do I sign up to have 5bp deposited in my savings account? I mean, who would really miss it?

Tue, 08/30/2011 - 11:56 | 1615143 Gandalf6900
Gandalf6900's picture

Too much hate around here people....but does he really pay taxes!!!???

Tue, 08/30/2011 - 12:05 | 1615200 NotApplicable
NotApplicable's picture

There is no such thing where WB is concerned. The man is a master criminal, and has done his utmost to destroy the economy, freedom and social stability by aiding and abetting the racket run by the other criminals in DC.

I can only hope he lives long enough to have to face up to it publicly. Him and his ilk are the most anti-human force on the planet.

Tue, 08/30/2011 - 12:08 | 1615211 66Sexy
66Sexy's picture

NAW, I'm cool with him just dropping dead and not taking it with him...

Tue, 08/30/2011 - 14:00 | 1615752 NotApplicable
NotApplicable's picture

Except that 'it' will still oppress us via all of the various "philanthropies" he funds. Just like with Cecil Rhodes, death will not hinder his ability to destroy, but rather it will allow all of his energies to form a single point of focus.

Tue, 08/30/2011 - 14:10 | 1615801 tarsubil
tarsubil's picture

Indeed, if you strike him down, he shall become more powerful than you could possibly imagine.

Tue, 08/30/2011 - 13:02 | 1615502 sun tzu
sun tzu's picture

Does it really matter if he pays taxes? If he paid 50%, it wouldn't affect him. If we had to pay 50%, we would be starving. That's why he says taxes should be higher. Pure evil

Tue, 08/30/2011 - 11:56 | 1615146 zorba THE GREEK
zorba THE GREEK's picture

Is Warren Buffet Kramer"s father?

Tue, 08/30/2011 - 12:25 | 1615297 Id fight Gandhi
Id fight Gandhi's picture

They both lose money for their followers.

Tue, 08/30/2011 - 11:58 | 1615153 rgd
rgd's picture

bubble bath tarrifs, bitchez!

Tue, 08/30/2011 - 11:58 | 1615157 Gandalf6900
Gandalf6900's picture

nope he's luke skywalkers uncle

Tue, 08/30/2011 - 11:58 | 1615160 The Real Fake E...
The Real Fake Economy's picture

so rumors in the MSM are starting to spread that Obama may finally get around to doing something about all of those underwater mortgages and provide relief, by forcing bank to re-calculate the loans and write down some of them for losses.  anyone else think this is a bunch of bologna?  anyway, is this the fed's/treasury new version of stimulus?  they've tried helping the banks in every which way conceivable all to no avail, so perhaps by helping some of main street, the economy might see a boost?  i don't know that even this will work.  

Tue, 08/30/2011 - 12:11 | 1615224 Missiondweller
Missiondweller's picture

Its exactly what I would expect from a marxist hell bent on "social justice". I'm not sure how I see how this would help the banks though. It would be good for banks to get it off their books but who takes the loss? The taxpayer? banks would go bust if they had to take the loss themselves. Just look at BAC.

Tue, 08/30/2011 - 12:14 | 1615231 EscapeKey
EscapeKey's picture

Yeah, sure, no doubt it will involve a 0.001% relief on mortgages, twice the maturity at slightly lower monthly rates, all backed "by the taxpayer" (and inflation theft), thereby allowing the banks to sell their phony mark-to-unicorn MBS'es to the... taxpayer - at full price.

Isn't it awesome how the class which will bear the brunt of the bailout, will also bear the future risk? By awesome, I meant for the kleptocratic elite.

Tue, 08/30/2011 - 12:22 | 1615285 pods
pods's picture

And all of those refis will of couse clear up the clouded note, thus giving the banks the leverage they need to foreclose when the time comes.

So banks will pay a little, get 10-20 more years of interest, and have all those pesky impeded mortgages go away.

That is why WF wanted me to refi so damn much, as they know they severed the security interest in my house.

pods

Tue, 08/30/2011 - 12:33 | 1615347 Leopold B. Scotch
Leopold B. Scotch's picture

I just can't wait until the government owns all the housing stock and rents it back to us at a fair price.

Tue, 08/30/2011 - 12:57 | 1615475 pods
pods's picture

There is a school of thought that this in fact is already the case.  

pods

Tue, 08/30/2011 - 14:02 | 1615762 NotApplicable
NotApplicable's picture

Last I heard it was only 96%, so they've still got some work to do.

Tue, 08/30/2011 - 14:03 | 1615773 DCFusor
DCFusor's picture

That's only if you think rising property taxes are "reasonable" in times when everyone else has to belt-tighten.  Even those of us who aren't in that debt game and just own outright.

So, a bunch of people get po'd and go down to the county courthouse in my tiny county, to protest that though their valuations are all down, their taxes aren't, and demand a re assessment.  County says fine -- reassess, now we just raise the rates, FU, citizens.

At what point do we realize we outnumber them.  It's like the plane hijack situation.  Yeah, the first guy in the rush to disarm the hijacker probably gets it, but if we all do the rush, we get the bad guy for certain.  Ahh, the governments insure we don't and can't trust one another in the clutch, so we wisely (!) choose not to try and just take it.  I get it.

Tue, 08/30/2011 - 15:34 | 1616194 James
James's picture

I'm of that school pods.

Tue, 08/30/2011 - 12:13 | 1615242 OpenEyes
OpenEyes's picture

I believe that the rumors are Barry will propose that all homeowners can re-finance at today's lower rates (particularly those who are underwater or would not otherwise qualify to re-fi).  This is NOT for the benifit of the home owners, it's for the banksters!  This will allow them to continue to carry those mortgages on their balance sheets as performing assets.  For the homeowner, it's more like "hey, we'll give you more time to pay us back for the inflated mortgage that you have on the house that is losing xx% per year in equity"

Tue, 08/30/2011 - 15:05 | 1616062 gabeh73
gabeh73's picture

you r correct. The banks lose when people squat for 8 months...sell the copper and appliances...stop maintenence and then leave the keys for the bankers....take all the savings and put it into gold and silver.

 

The bankers will try to stop it with various schemes designed to look average joes.

Tue, 08/30/2011 - 12:21 | 1615279 A Man without Q...
A Man without Qualities's picture

They are trying to do something, but it's actually a cover to fix the MERS mess.  

Tue, 08/30/2011 - 12:25 | 1615298 pods
pods's picture

Bingo.  This is the reason.  

(sorry if I like jumped you above, escapekey's argument made me think of it)

pods

Tue, 08/30/2011 - 12:37 | 1615369 topcallingtroll
topcallingtroll's picture

real men never apologize

Tue, 08/30/2011 - 12:56 | 1615468 pods
pods's picture

Define real man.

 

Tue, 08/30/2011 - 14:03 | 1615769 NotApplicable
NotApplicable's picture

Someone who never apologizes.

Tue, 08/30/2011 - 15:21 | 1616127 gmrpeabody
gmrpeabody's picture

oops..., sorry. I was gonna post that, but you beat me to it.

Tue, 08/30/2011 - 12:00 | 1615166 Poetic injustice
Poetic injustice's picture

No, he deferrs them to 10 years forward. After 10 years...

Tue, 08/30/2011 - 12:00 | 1615169 Translational Lift
Translational Lift's picture

Stuffit Buffit.......

Tue, 08/30/2011 - 12:01 | 1615172 Dr. Hannibal Lecter
Dr. Hannibal Lecter's picture

Fuck Unka Warren.  Where's Kevorkian when ya need him?

Tue, 08/30/2011 - 13:40 | 1615652 Jonas Parker
Jonas Parker's picture

Kevorkian is where I wish Warren was...

Tue, 08/30/2011 - 12:01 | 1615175 TradingJoe
TradingJoe's picture

I really really really hope to still be alive and somewhat still "young" to either watch or even be part of what's going to shake this country off it's rotten foundations!!! I don't see any other way but the violent one! Anything else would be just plain pittyfull!

Tue, 08/30/2011 - 12:01 | 1615179 YesWeKahn
YesWeKahn's picture

I thought uncle B wanted everyone over 1 million worth pay more taxes. How about he pays 1/2 of his worth first, then we start talking.

Tue, 08/30/2011 - 12:07 | 1615205 Translational Lift
Translational Lift's picture

Lead by example??....I don't think so....He's all BS just like the monkeys he is backing.....

Tue, 08/30/2011 - 12:05 | 1615199 SoCalBusted
SoCalBusted's picture

Private jets don't run on water! 

Tue, 08/30/2011 - 12:06 | 1615203 search
search's picture

Good old Hugh Hendry, once the rich get rich, they build a moral mote around their wealth. Yeah he gives in "intangible ways", just look at Bank of (we dont need capital but give us $5 bill and spin off that China play) America.

Tue, 08/30/2011 - 12:07 | 1615206 lunaticfringe
lunaticfringe's picture

Do not rule out a special Obama tax exemption waiver for Warren. Similar shit has been known to happen.

Tue, 08/30/2011 - 13:08 | 1615524 sun tzu
sun tzu's picture

Obamacare exemptions for unions and corporate cronies

EPA exemptions for GE

Bankruptcy law exemptions for GM

 

Create a thousand new laws and regulations to be selectively enforced against your enemies and the masses. All your friends and cronies will be exmpt from following the laws. Truly a banana republic

Tue, 08/30/2011 - 15:23 | 1616138 gmrpeabody
gmrpeabody's picture

+100

Tue, 08/30/2011 - 12:10 | 1615222 Diamond Jim
Diamond Jim's picture

hey, today is uncle warren's birthday, where is the love ?????  Quit whinning Warren and write a check..........

Tue, 08/30/2011 - 12:11 | 1615225 buzzsaw99
buzzsaw99's picture

BRK has gotten too big for their britchez bitchez.

Tue, 08/30/2011 - 12:11 | 1615228 Silverhog
Silverhog's picture

So who would qualify for a mortgage rewrite? Anyone behind in payments? I can see it coming. Those like myself who continue to make payments dispite hardships will get crabs and ice water.   

Tue, 08/30/2011 - 12:13 | 1615240 Seasmoke
Seasmoke's picture

so what are you waiting for........no guts to take a stand or just like to complain ?

Tue, 08/30/2011 - 13:10 | 1615528 sun tzu
sun tzu's picture

What's he supposed to do, start killing people?

Tue, 08/30/2011 - 12:27 | 1615311 Greater Fool
Greater Fool's picture

The only hints I've heard have to do with adjusting the interest rate. It's not clear that principal adjustments would be part of the final program. (That would be effective, but very very expensive.)

The mechanics of how to actually do the rate adjustments / refis are tricky, though. Past efforts haven't really worked because the servicers and the noteholders (or securitization trustees) aren't willing to spend a lot to do the modifications, and the prior programs have been pretty complex in terms of who is eligible and how you go through the process. They also haven't worked in preventing delinquencies; there's no real evidence that modifying the loan makes delinquency less likely.

Although it might not make Dems happy, if you want the maximum economic impact I think you target the haves, not the have-nots. A refi at current mortgage rates for borrowers not more than 30 days delinquent would be a start. The issue with how you actually do the refi is harder; you can either twist servicers' arms, which has been tried and almost certainly won't work with current accounts, or Fannie / Freddie can buy the mortgages off bank balance sheets / out of SPV's, but to do so they'd probably have to pay well *above* face.

Tue, 08/30/2011 - 12:45 | 1615403 topcallingtroll
topcallingtroll's picture

The banks cannot adjust the principal or the interest rate on a a home loan unless they buy back the specific note out of the MBS and put it back on the bank's books.  This little rule has been the hold up.

Tue, 08/30/2011 - 12:13 | 1615241 mudduck
mudduck's picture

More gas from the Omaha Orifice.

Tue, 08/30/2011 - 12:15 | 1615245 lunaticfringe
lunaticfringe's picture

Hey Warren...you fucking toolbag...this is what we finance with the 30% money they extract from us. http://thecivillibertarian.blogspot.com/2011/08/view-and-drool.html

Tue, 08/30/2011 - 12:16 | 1615253 topcallingtroll
topcallingtroll's picture

I used to like him but now I hate that bloated, ugly scumbag.

I hate him for different reasons than some of you populists.  I hate him for advocating tax increases on people like me just because he is rich.

I ain't rich.  I can't afford to be a socialist Obama supporter.

Tue, 08/30/2011 - 12:35 | 1615357 Leopold B. Scotch
Leopold B. Scotch's picture

If taxes are such a good idea, why'd he bother to give the billions to the Gates Foundation?  If he really meant it, he'd have just allowed the government to tax it from him.

Tue, 08/30/2011 - 12:42 | 1615392 fiddler_on_the_roof
fiddler_on_the_roof's picture

True. A 250K salary in silicon valley and buying a decent house near work will cost more than a million dollar. Add the state/property tax, they do worse than a poor man in Alabama and will have no savings. I don't know where they got the 250K number, it is low.

Tue, 08/30/2011 - 12:47 | 1615417 Nothing To See Here
Nothing To See Here's picture

"The problem with socialism is that it always runs out of other people's money"

- Margaret Thatcher

Tue, 08/30/2011 - 12:59 | 1615486 Flakmeister
Flakmeister's picture

Yeah, just like Sweden and Norway and Germany....

The problem with Thatcherism is that you run out of loopholes that the bankers can exploit....

Tue, 08/30/2011 - 14:22 | 1615878 faustian bargain
faustian bargain's picture

Not defending "Thatcherism", but those socialist 'success' stories are not all they're cracked up to be.

http://www.lewrockwell.com/dieteman/dieteman33.html

With respect to claim that Swedish socialism shows the "success" of socialism, as O'Rourke notes, free trade reigned in Sweden from roughly 1846 until the Social Democrats were elected in 1932. After 1932, Sweden was helped by its neutrality in World War Two. Unlike Germany, Sweden's major cities were not bombed flat. The Social Democrats, then, had a great deal of wealth produced by capitalism and undamaged by war to share as political spoils....

....From 1934 to 1974, 62,000 Swedes were sterilized as part of a national program grounded in the science of racial biology and carried out by officials who believed they were helping to build a progressive, enlightened welfare state...In some cases, couples judged to be inferior parents were sterilized, as were their children when they became teenagers.

....Since the Swedish revelations, other apparently "clean" countries have found similar skeletons in their cupboards. Both Norway and Denmark had similar policies. And this week a Swiss history professor, Hans Ulrich Jost, said Swiss doctors sterilised mentally-handicapped patients (again most of them women) against their will under a law passed in 1928. "Even Hitler requested a copy of the law from the canton and from the government in Berne as a basis for Nazi Germany's own racist laws."

...and Germany is 'Socialist LiteTM'...a mixed economy just like the US. They just happen to have more successful policies vis-a-vis manufacturing and export.

Tue, 08/30/2011 - 14:35 | 1615959 Flakmeister
Flakmeister's picture

Yep.... lots of skeletons

From http://culturekitchen.com/mole333/blog/forced_sterilization_in_america_it_inspired_the

The very first nation to take an official and organized approach to eugenics, involving forced sterilization of "undesirables," was the United States of America. Starting with Michigan in 1897, forced sterilization in the US lasted into the 1960's and was given Supreme Court approval in Buck v. Bell in 1927. More than 60,000 people considered undesirable, including the mentally ill, the "promiscuous," the poor, Native Americans and the physically disabled, were compulsorily sterilized under official policy in the United States. The very last state-sanctioned, forced sterilization program in the US was in Oregon, only ending in 1981.

There are plenty more links if you don't like this one....

http://en.wikipedia.org/wiki/Compulsory_sterilization

Tue, 08/30/2011 - 15:30 | 1616179 gmrpeabody
gmrpeabody's picture

I came out of a devorce sterilized, back in 1988. Maybe I was the last, but I still see the same kind of laws being applied.

Tue, 08/30/2011 - 12:19 | 1615266 Caviar Emptor
Caviar Emptor's picture

Warren Buffet, oh don't you cry for me

Your 14% don't make a dent on my rate of 33

 

 

Tue, 08/30/2011 - 13:16 | 1615546 Flakmeister
Flakmeister's picture

Closet Madonna fan?

Tue, 08/30/2011 - 13:48 | 1615689 Kilgore Trout
Kilgore Trout's picture

You mean Madonna covered "Oh, Susanna"?

Tue, 08/30/2011 - 14:07 | 1615784 Flakmeister
Flakmeister's picture

I was humming Evita... but I can see your point...

Tue, 08/30/2011 - 12:21 | 1615281 H Reardon
H Reardon's picture

As the smoke begins to clear and the mother of all depressions is well underway, Buffett will be tops on the list of thieves and charletons to be tried by peasants with pitchforks.

Tue, 08/30/2011 - 12:22 | 1615286 JohnG
JohnG's picture

Booo fucking hoooooo.

Tue, 08/30/2011 - 12:23 | 1615288 Justaman
Justaman's picture

Tax him 100%.  Take all of his money.  It still won't change the spending habits of Washington. 

Tue, 08/30/2011 - 12:26 | 1615307 pods
pods's picture

I have yet to see the rule that forbids Uncle Warren from donating any amount of FRNs to the IRS.

pods

Tue, 08/30/2011 - 12:30 | 1615329 fastishplastic
fastishplastic's picture

pure and total moral hazard, now the mainstream meme mores - check 

Tue, 08/30/2011 - 12:30 | 1615330 Flakmeister
Flakmeister's picture

And people wonder why this country is so fucked up?  What is combined FICA and Medicare for an average schlub?

Tue, 08/30/2011 - 14:22 | 1615876 Bicycle Repairman
Bicycle Repairman's picture

It is much higher than that for a schlub that clips coupons.

Tue, 08/30/2011 - 12:34 | 1615352 Douglasnew
Douglasnew's picture


Buffett & Gates make all their money here, pay almost no taxes, then give it all away to charity for Indians & Africans while the average American gets the Tax bill for their Stock Market bailouts for generations to come. Go figure. That Bumfart from Nebraska should know better. He's not as Patriotic nor as smart as most have him pegged for. Great Vulture though. Would'vew made a damn good Shark too....or maybe a Wolf ....in Sheeps clothing. Berkshire should just get rid of the old Coot now, lest I shan't have to listen to his sickening truisms from the Ivory Tower hence longer.

Tue, 08/30/2011 - 13:02 | 1615503 wisefool
wisefool's picture

Old rough and ready Nader has been on the MSM lately explaining this. I think it was on MSNBC where they tried to corner him into a global progressive position. paraphrase:

talking head: "But dont you think american corporations, government and leaders have lifted many people around the world out of poverty by giving them our jobs"

Nader: "Sure, but there needs to be limits to american magnimasity. We have taken the wealth of the working people of this country and simply given it away, in a way that will unfairly burden americans for generations to come. It is essentially imposible to unravel NAFTA and the tax code now"

talking head: snark: ".... umm .... but we like to see tribal natives wearing Adidas shirts and Nike shoes when we go on assignment/vacation in exotic locations"

Nader: ... speachless ... "Thanks for letting me interview with you today."

Tue, 08/30/2011 - 12:40 | 1615377 topcallingtroll
topcallingtroll's picture

Good.  Now that we all agree we hate the scumbag of Omaha what do we do now?

Tue, 08/30/2011 - 12:44 | 1615405 Nothing To See Here
Nothing To See Here's picture

Ok after due consideration, I now agree with Warren Buffett and find myself willing to follow his lead on tax rates.

Tue, 08/30/2011 - 12:51 | 1615438 Pure Evil
Pure Evil's picture

If he thinks he's not paying enough taxes, then maybe he won't mind paying mine.

Tue, 08/30/2011 - 13:15 | 1615542 Fish Gone Bad
Fish Gone Bad's picture

The tax treatment for dividends paid by U.S. corporations to property-casualty insurance companies was materially changed by a law passed in 1986.

Anyone confused about the tax code?  It is full of these little "special favors" that no one else gets.

Tue, 08/30/2011 - 14:15 | 1615571 Contra_Man
Contra_Man's picture

This is how Plutocrats are taking secured creditor PRIVATE ownership positions in PUBLIC entities for a DISCOUNT!

Open your Insured Bankster Savings Account today and eat your cake too:

http://contramanfund.wordpress.com/2011/08/24/the-insured-bankster-savin...

 

Tue, 08/30/2011 - 13:52 | 1615716 jmc8888
jmc8888's picture

Becky better hop on a plane and plead to Oracle of Omaha Steaks to keep their 'access'. 

 

Oh and Buffett and Gates are not 'saving' the third world.  They are trying to destroy it.  Anyone that wants to google around a bit can find out what Gates has said about his vaccination program.  He's a population reduction eugenics freak.  Sterilization anyone? 

He's giving that money to save the world based on dogma.  The human species doesn't really benefit from it, Instead it gets destroyed...and everyone hails how good the people are that destroy the world.

The world would have been much better off without Bill Gates.  It sure would be better off without his foundation.  The little bit of good it does, is far overshadowed by what is desired to be done.  The delivery mechanism for genocide is in place. 

Fuck Bill Gates and Warren Buffett

 

Tue, 08/30/2011 - 14:13 | 1615818 NotApplicable
NotApplicable's picture

Remember though, none of this happened until after the DOJ went after him for monopolizing umm... something or other. Which of course, is hilarious on its face, as only government can create monopoly.

Then BillG traveled to DC and decided to "play ball," in order to get the hounds off of his back. I can still remember the trip. Congress (being eternally strapped for funds) treated him like royalty.

Tue, 08/30/2011 - 13:54 | 1615720 Sandy15
Sandy15's picture

Uncle Warren, please post your address so that I may send you my tax bill.  If you feel you do not pay enough, then just write a check on my behalf and anyone else willing to send their tax bill to you.

 

At one time I thought he was one of the honest business men of America.  I'm so disappointed in his hypocrisy and his fascist support for Obummer.  I have lost ALL respect for him.

Tue, 08/30/2011 - 14:32 | 1615940 azzhatter
azzhatter's picture

Would love to see that drooling wrinkled old flaccid cocksucker get gang raped by bubba in an orange jumpsuit wearing a Becky Squicky mask

Tue, 08/30/2011 - 18:27 | 1616815 JenB
JenB's picture

The lead in line on this one was hilarious! The comment yesterday about readers having difficulty with extended bullet points had me laughing out loud! Isn't this all supposed to be really serious stuff? It is...I know but some of these lines :) sometimes I guess it is great to be a nobody worth commenting on.

Wed, 08/31/2011 - 12:01 | 1619124 dxj
dxj's picture

Which illustrates why Uncle Warren is full of shit when he claims that his tax rate is less than his maid's. The dividends are taxed twice before Buffet can pocket any of the gains personally.

Mon, 09/05/2011 - 09:36 | 1634045 shacai
shacai's picture

Welcome to http://www.replicabagsell.com .Our company was founded in 2004 and was committed to internet marketing businesses in 2006. Replica Handbags are always in a great demand and sells well. Recently, we launched some new and updated them on our website. Here you can find some scarce Cheap Christian Louboutin shoes, which were difficult to find from other websites. sac à main are also always in hotsale.

We have gotten many great comments from our customers and earn a good NFL jerseys reputation in foreign makerts, more than 90% customers are satisfied with our products and service, till now our online members NFL jerseys are beyond 80,000. As of right now, we currently serve customers from over Christian Louboutin 18 countries, and we are still growing. We really hope to expand our business through cooperation with individuals and companies from around the world.

Do NOT follow this link or you will be banned from the site!