Warren Buffett on Taxes in the US - GoFuckYourself.com

Bryan G · 12-07-2010, 12:44 PM

This is from a couple years ago. First off I am impartial to this, just thought it was interesting.

Warren Buffett Story
http://www.timesonline.co.uk/tol/mon...cle1996735.ece

Warren Buffett, the third-richest man in the world, has criticized the US tax system for allowing him to pay a lower rate than his secretary and his cleaner.

Speaking at a $4,600-a-seat fundraiser in New York for Senator Hillary Clinton, Mr Buffett, who is worth an estimated $52 billion (£26 billion), said: ?The 400 of us [here] pay a lower part of our income in taxes than our receptionists do, or our cleaning ladies, for that matter. If you?re in the luckiest 1 per cent of humanity, you owe it to the rest of humanity to think about the other 99 per cent.?

Mr Buffett said that he was taxed at 17.7 per cent on the $46 million he made last year, without trying to avoid paying higher taxes, while his secretary, who earned $60,000, was taxed at 30 per cent. Mr Buffett told his audience, which included John Mack, the chairman of Morgan Stanley, and Alan Patricof, the founder of the US branch of Apax Partners, that US government policy had accentuated a disparity of wealth that hurt the economy by stifling opportunity and motivation.

minicivan · 12-07-2010, 01:09 PM

Of course, he wasn't criticizing his tax rates as he was building his $50,000,000,000.00 Net Worth.

Also interesting that he would use the word "lucky" to describe his success. He wasn't throwing darts at a board when making investment decisions. But it of course all sounds good to his audience (the paying audience).

MetaMan · 12-07-2010, 01:12 PM

Warren Buffett is a complete asshole. Do not let the "nice old guy" persona fool you. He views life and money as a complete game.

here is something. how about NO TAXES and NO REGULATION.

12clicks · 12-07-2010, 01:13 PM

those of us who the government considers "earns" its money pay more than our secretaries. he falls into the loophole where the government sees him as "investing"

he uses that disingenuous line to keep the liberals from being mad at him.

xxweekxx · 12-07-2010, 01:19 PM

anyone can easily do what he is doing..

dont wanna pay too much in taxes? keep buying up shit..

say you earnings for the year are $1mil.. dump the $1mil into a laundromat or a car wash or some shit..

remember u can write off business expenses.. just keep having a lot of business expenses and u'll be ok

voila! no taxes.. rinse and repeat

IllTestYourGirls · 12-07-2010, 01:19 PM

Fact, he is a hypocrite. He does not need to take all the tax loopholes. If he feels he should be paying more taxes then by all means stop taking the loopholes.

fatfoo · 12-07-2010, 01:22 PM

More motivation is always good. Motivational speeches can help.

xxweekxx · 12-07-2010, 01:23 PM

Quote:

Originally Posted by fatfoo

More motivation is always good. Motivational speeches can help.

dude stop posting this garbage

TheDoc · 12-07-2010, 01:34 PM

Well of course Mr. Buffet... Most of us business owners, even the few of us on gfy that aren't worth 50 billion dollars... don't pay a full 30% in personal taxes.

It would still be interesting to see what he does to lower his personal taxes though.

12-07-2010, 12:44 PM	#1
Bryan G Confirmed User Join Date: Aug 2005 Location: Toronto Posts: 8,338	Warren Buffett on Taxes in the US This is from a couple years ago. First off I am impartial to this, just thought it was interesting. Warren Buffett Story http://www.timesonline.co.uk/tol/mon...cle1996735.ece Warren Buffett, the third-richest man in the world, has criticized the US tax system for allowing him to pay a lower rate than his secretary and his cleaner. Speaking at a $4,600-a-seat fundraiser in New York for Senator Hillary Clinton, Mr Buffett, who is worth an estimated $52 billion (£26 billion), said: ?The 400 of us [here] pay a lower part of our income in taxes than our receptionists do, or our cleaning ladies, for that matter. If you?re in the luckiest 1 per cent of humanity, you owe it to the rest of humanity to think about the other 99 per cent.? Mr Buffett said that he was taxed at 17.7 per cent on the $46 million he made last year, without trying to avoid paying higher taxes, while his secretary, who earned $60,000, was taxed at 30 per cent. Mr Buffett told his audience, which included John Mack, the chairman of Morgan Stanley, and Alan Patricof, the founder of the US branch of Apax Partners, that US government policy had accentuated a disparity of wealth that hurt the economy by stifling opportunity and motivation. __________________ Bryan skype: bryan.glass3 \| ICQ 302999591

12-07-2010, 01:13 PM	#4
12clicks Too lazy to set a custom title Industry Role: Join Date: Jan 2001 Location: God's right hand Posts: 19,781	those of us who the government considers "earns" its money pay more than our secretaries. he falls into the loophole where the government sees him as "investing" he uses that disingenuous line to keep the liberals from being mad at him. __________________ I'm not a dinosaur, I'm a crocodile. I've seen dinosaurs come and go and I'm left unimpressed.

12-07-2010, 01:19 PM	#5
xxweekxx Confirmed User Join Date: Oct 2002 Posts: 6,780	anyone can easily do what he is doing.. dont wanna pay too much in taxes? keep buying up shit.. say you earnings for the year are $1mil.. dump the $1mil into a laundromat or a car wash or some shit.. remember u can write off business expenses.. just keep having a lot of business expenses and u'll be ok voila! no taxes.. rinse and repeat __________________ _________________ I am the best

12-07-2010, 01:19 PM	#6
IllTestYourGirls Ah My Balls Industry Role: Join Date: Feb 2007 Location: Under the gold leaf ICQ 388-454-421 Posts: 14,311	Fact, he is a hypocrite. He does not need to take all the tax loopholes. If he feels he should be paying more taxes then by all means stop taking the loopholes. __________________

12-07-2010, 01:22 PM	#7
fatfoo ICQ:649699063 Industry Role: Join Date: Mar 2003 Posts: 27,763	More motivation is always good. Motivational speeches can help. __________________ Send me an email: [email protected]

12-07-2010, 01:09 PM	#2
minicivan Confirmed User Join Date: Jun 2007 Posts: 943	Of course, he wasn't criticizing his tax rates as he was building his $50,000,000,000.00 Net Worth. Also interesting that he would use the word "lucky" to describe his success. He wasn't throwing darts at a board when making investment decisions. But it of course all sounds good to his audience (the paying audience).

12-07-2010, 01:12 PM	#3
MetaMan I AM WEB 2.0 Industry Role: Join Date: Jan 2003 Posts: 28,682	Warren Buffett is a complete asshole. Do not let the "nice old guy" persona fool you. He views life and money as a complete game. here is something. how about NO TAXES and NO REGULATION.

12-07-2010, 01:34 PM	#9
TheDoc Too lazy to set a custom title Industry Role: Join Date: Jul 2001 Location: Currently Incognito Posts: 13,827	Well of course Mr. Buffet... Most of us business owners, even the few of us on gfy that aren't worth 50 billion dollars... don't pay a full 30% in personal taxes. It would still be interesting to see what he does to lower his personal taxes though. __________________ ~TheDoc - ICQ7765825 It's all disambiguation