From Stark
Warren Buffett, the legendary mega-investor, recently loaned Bank of America $5 billion, a vote of confidence that helped to buoy the stock market’s confidence in a financial institution weighed down by legal and financial fallout from the bursting of the real estate bubble and the mortgage loans that made that bubble possible.
This is slightly off-topic, but recently, Buffett delivered a lecture to us all about the tax code and about how he thinks that he pays insufficient income tax.
This article isn’t about Buffet personally, but it does make clear that Buffett is not above minimizing his tax burden: Warren Buffett’s Company Hasn’t Paid All Taxes Owed In Years, Media Mum
Read more: http://newsbusters.org/blogs/noel-sheppard/2011/08/29/warren-buffetts-company-hasnt-paid-taxes-years-media-mum#ixzz1WZLCxzEx
Followup to the earlier article: http://newsbusters.org/blogs/noel-sheppard/2011/08/30/warren-raise-my-taxes-buffetts-company-may-owe-irs-1-billion
…For decades the left has warned America not to fall victim to “plutocracy,” to political rule by the rich, such that most candidates try to tout their “common man” roots. But throughout America’s history political elites have been among the nation’s wealthiest citizens. That’s not necessarily a bad thing. The key issue should be not a politician’s wealth but his ideology, and contrary to popular opinion, the former simply does not dictate the latter.
Warren Buffet’s hypocrisy isn’t unique, nor is his case paradoxical. Contrary to Karl Marx’s widely-held thesis, one’s socio-economic status doesn’t determine one’s political-economic ideas. CEOs and financial capitalists will oppose capitalism as a moral socio-economic system on ideological grounds as long as they adopt false premises about the alleged “evil” of the profit motive and money-making, or about supposedly “unearned” wealth made instead by “society.” America’s prospects will improve when CEOs and financial capitalists become unapologetic, ideological capitalists; for now they’re an exploited, all-too-silent minority.
http://www.forbes.com/sites/richardsalsman/2011/08/28/warren-buffett-and-the-other-anti-rich-capitalists/
AFY!!theheelotsheepdog!!!
I read today that Buffet’s warrants have already increased in value by $500,000,000. If he’d only cash them today, he’d have a short-term gain and a fat tax bill.
Buffet, however, is a buy-and-hold investor who very seldom realizes a gain, and that’s why his tax bill is so low.
Some very nice info in this article about real estate I`ll certainly be coming back to look at the blog site for additional updates
Genuinely interesting cheers, It looks like your current visitors will probably want considerably more reviews along these lines carry on the excellent hard work.
Your blog is really good. I found it on Yahoo. I’ll put a link up to it on my site.