No Buffett Rule for OBY who paid less taxes than me
After lobbying Congress for months to pass the Buffett Rule, ie, higher
taxes for the rich, OBY cheated on his own system by claiming charitable contributions
to reduce his tax rates.
Warren Buffett said OBY doesn't qualify for the Buffett Rule this year.
One has to earn $1M to qualify for it. OBY came just under that
amount at $789,000 plus change. That's because he claimed 25% of his
income to charities so this brought it under $1M. Buffett probably influenced him on
that following another Buffett Rule - give your money away.
As a result of giving that money away, OBY ended up paying less taxes than his secretary and his VP, Joe Biden who paid 23% to taxes and less than me who paid close to 34% on a fixed income.
There will always be loop holes no matter what these DEMs propose as for
BTW, OBY made over $5M in 2009 and $1M in 2010 before the Buffett
Rule talk and even if the Buffett Rule is passed, millionaires need not worry cause
there's still plenty of loop holes for them to hide their millions.
So it's business as usual. The tax codes will protect the very rich and the very poor
while those of us in between will pay for everything. The Tax Code definitely needs to
be fixed but this BR does not fix it. I understand OBY pimping it. He has a campaign to
run and has nothing to run on. He has no record. The Buffett Rule is perhaps his last
chance at something.
There's a lot of hypocrisy to these liberals like Buffett who says he should pay more
taxes but the bill containing his name still has loop holes for him to hide in.
He gave Goldman Sachs his own buyout when the market crashed in 2008 by buying
10% of the company. However, after Sachs got its money back after TARP was issued
they got the SEC to approve their buyout Buffett's shares back.
He made $1.4M PR DAY.
Buffett said if it took US armed forces 10 years to find Osama Ben Laden, it will take Goldman
Sachs longer to find me. He finally sent his investors a letter saying the gravey train just
stopped in ref to that $1.4M pr day. He bought one of the country's largest furniture
companies from a little old lady for $55M. It was worth $100M. She said he charmed her
And more hyprocisy. Buffett was the one who influenced OBY in not signing the Keystone
Pipeline bill. The only other alternative to get Canada's oil down to Texas is to ship it by
rail. Buffett owns the rail road that would ship it. A pipe would cost just a fraction of
shipping by rail plus a pipe would create about 20,000 jobs but Buffett used his
influence to stop it. He would have made billions more. And you thought it was the
environmentalists OBY caved in to. Brutal, just brutal.
His number 1 rule was never get into debt and he never did. When his daughter Susy asked
for a $30,000 loan to enlarge her kitchen he declined. His son Peter said the children get
none of the money from his will and why should we he says. Buffett says it isn't fair.
The bulk goes to Bill Gates foundation to feed 3rd world countries.
A great book to read is MAKING OF A CAPITALIST BY LOWENSTEIN.
DO YOU THINK MILLIONAIRES SHOULD PAY MORE TAXES OR BUS DRIVERS?
Last edited by AirFlacco; 04-15-2012 at 03:38 PM.