Not long ago, I wrote a blog where Warren Buffett wanted to be taxed more. Here is the story. Now there is an article about Warren Buffett once again. "Billionaire investor Warren Buffett says he wants Congress to raise his taxes…But his company Berkshire Hathaway has not paid the back taxes it owes." According to the article “The company has been short-changing the tax collection agency for much of the past decade. Mr. Buffett’s company has not fully settled its tax bills from 2002-2009. Yet he says he’d happily pay more. Except the IRS has apparently been asking him to pay more going on nine years.”
Warren Buffett is also hosting a $35,000 Obama Seminar. According to the article "Billionaire Warren Buffett will host an “economic forum” fundraiser for President Barack Obama in New York City next month with VIP tickets topping out at $35,800 a head, reports the New York Post." Read the article here.
Now I know that Political candidates need to raise money, and lots of it, but, I have to wonder about the connection between these two. What position will Warren Buffett be given at the White House if Obama is re-elected? What is in it for him? After all, Obama is well known to return favors for his big contributors. Warren Buffett may be an intelligent man and works wonders in the market, but, what is he up to?
Showing posts with label Warren Buffet. Show all posts
Showing posts with label Warren Buffet. Show all posts
Friday, August 26, 2011
Tuesday, August 16, 2011
Obama and raising taxes on the rich
Obama has been pushing raising taxes on "those making $250,000 or more" before he became President. I think it is interesting that when the Democrats had complete control over the House, Senate, and Presidency, they didn't pass a bill on raising taxes on the rich. Still he is advocating raising taxes on the rich. Now, Warren Buffet, one of the richest man in the world is saying they should raise my taxes.
If Obama and Buffet want to pay more in taxes, then why not do it on their own? After all, they could file their taxes and not take any deductions, thus, paying more in taxes. The Obama's, on their 2009 tax return claimed an "adjusted gross income of $5,505,409.Their itemized deductions were $514,819. Foreign tax credit was $59,372. The taxes they paid was $1,800,701 and got a refund of $8,287.
Since Warren Buffet makes substantially more, and his tax records are not available to the public, it makes you wonder how much in taxes he would pay if he took NO deductions. Which I am sure he takes ALL the deductions he can.
For Warren Buffet, or any other billionaire who wants to pay more taxes, here's an idea. Why not pay for the buses which cost the taxpayer $2.2 million? While they are at it, why not pay the expense for the Secret Service who protects Obama on his campaign tour? Better yet, apply some of those billions to pay off the debt? If you don't know how, pay here!
If Obama and Buffet want to pay more in taxes, then why not do it on their own? After all, they could file their taxes and not take any deductions, thus, paying more in taxes. The Obama's, on their 2009 tax return claimed an "adjusted gross income of $5,505,409.Their itemized deductions were $514,819. Foreign tax credit was $59,372. The taxes they paid was $1,800,701 and got a refund of $8,287.
Since Warren Buffet makes substantially more, and his tax records are not available to the public, it makes you wonder how much in taxes he would pay if he took NO deductions. Which I am sure he takes ALL the deductions he can.
For Warren Buffet, or any other billionaire who wants to pay more taxes, here's an idea. Why not pay for the buses which cost the taxpayer $2.2 million? While they are at it, why not pay the expense for the Secret Service who protects Obama on his campaign tour? Better yet, apply some of those billions to pay off the debt? If you don't know how, pay here!
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