Surprise! Warren Buffet is a Tax Cheat!
Remember when the left was all aflutter over the “good” billionaire Warren Buffet demanding taxes be raised on the rich? There’s a pretty deafening silence from them now that we found out why he’s so eager for tax increases.
Billionaire investor Warren Buffett triggered a major debate over taxes recently when he wrote in The New York Times that he should be paying more to the federal government. He called on Washington lawmakers to up tax rates on the rich.
But it turns out that Buffett’s own company, Berkshire Hathaway, has had every opportunity to pay more taxes over the last decade. Instead, it’s been mired in a protracted legal battle with the Internal Revenue Service over a bill that one analyst estimates may total $1 billion.
Yes, that’s right: while Warren Buffett complains that the rich aren’t paying their fair share his own company has been fighting tooth and nail to avoid paying a larger share.
In a The New York Post editorial the obvious point is made:
Obvious question: If Buffett really thinks he and his “mega-rich friends” should pay higher taxes, why doesn’t his firm fork over what it already owes under current rates?
Likely answer: He cares more about shilling for President Obama — who’s practically made socking “millionaires and billionaires” his re-election theme song — than about kicking in more himself.
Indeed. Next time some rich guy tells you you’re rich and should pay more in taxes – check his financials.
Funny, I haven’t heard Obama rail against Buffet for not paying his fair share.