In one instance at least! Here's a little anecdote courtesy of the ubiquitous Business Insider: [I]n 1984, Berkshire highlighted its purchase of Nebraska Furniture Mart [in its annual letter to investors]. Buffett was a huge fan of NFM's chairman, the 91-year-old Rose Blumkin, who he affectionately referred to as "Mrs. B." Here's an excerpt: I […]
A group of wealthy people that includes Warren Buffett, George Soros and former President Jimmy Carter is pressing Congress to roll back estate tax parameters, saying the current set-up leaves “too much revenue on the table.” The group of roughly three dozen people released a statement on Tuesday calling for both the current estate tax exemption […]
“You might have heard of this,” Obama said in his remarks, before a crowd of faculty and students at Florida Atlantic University. “But Warren Buffett is paying a lower tax rate than his secretary.” [The Hill, Earlier]
The Oracle said as much in a letter to Buffett Rule scribe, Senator Sheldon Whitehouse (D-RI): Billionnaire investor Warren Buffet said in a letter Wednesday that he was “delighted” to support legislation to implement the “Buffett Rule,” which would ensure that those making over $1 million annually pay at least a 30 percent effective tax […]
That's a nice way of putting it, anyway. New Jersey Governor Chris Christie said billionaire investor Warren Buffett, who called for the nation’s wealthiest people to pay more taxes, should “just write a check and shut up.” “I’m tired of hearing about it,” Christie told CNN’s Piers Morgan in an interview that aired last night. “If […]
RELATED: I'm starting to think that ol' Grover is purposely spelling the Oracle's surname incorrectly. [@GroverNorquist, Earlier, Earlier]
Earlier we discussed how Warren Buffett's secretary and glory hog, Debbie Bosanek, has become a poster child for all of us that have effective tax rates higher than those of wealthy dudes like her boss and GOP Presidential cyborg Mitt Romney. This has caused a number of people to freak out and start wondering aloud how […]
The fact that O^3's effective tax rate is probably lower than yours and mine is pretty ridiculous. We have Congress to thank for that. But this secretary thing is getting played. Why does she get all the attention? Why did she get to go to the State of the Union? I mean she seems like […]
The Oracle of O proves to be a master tease artist:
In a letter to Republican Rep. Tim Huelskamp Tuesday, Buffett revealed that his adjusted gross income last year was $62,855,038 and that his taxable income was $39,814,784.
Buffett said he paid $15,300 in payroll taxes. Buffett also said his federal income tax bill came to $6,923,494, or 17.4% of his taxable income — two points he revealed in a New York Times op-ed in August urging Congress to tax the wealthy more.
In another act of twirling his pasties, WB repeated his challenge to all his fellow “ultra-rich” peers to whip out their tax returns. Not sure if the OWS gang has jumped on this band wagon yet but it’s worth putting out there.
His tax return, people. His tax return. Remember last week when the Journal told O^3 he should put up or shut up since he’s so gung ho about increasing taxes on the ultra-rich? Well, he sure does and he seemed delighted when someone asked him about it today:
Asked about the editorial on Tuesday at Fortune’s Most Powerful Women Summit, Buffett said he was willing to release his tax returns, on one condition: “I think it might be a terrific idea if they would just ask their boss, Rupert Murdoch, and he and I will meet at Fortune, and we’ll both give you our tax returns and you can publish them,” Buffett said. “I’m ready tomorrow morning,” he added.
Your move, Rupes.
“It isn’t [my idea] to have the rich pay more taxes. It’s to have the ultra-rich pay more,” he said on Bloomberg Television Friday. “It isn’t to have the rich pay more taxes. It’s to have the ultra-rich who are paying very low tax rates pay more taxes. There’s all kinds of ultra-rich who pay normal taxes, but there is a small segment–but you can find them very easily–who pay very low taxes, including me. People who make money with money only pay very low taxes at very high levels of income. … What I’m talking about would probably apply to 50,000 people out of 310 million in the country. [BBR/The Hill]
The GOP is making a concerted effort to pressure billionaire investment guru Warren Buffett to release his tax returns to the public. Republicans say Buffett — the public face of Obama’s proposed “Buffett rule” to increase taxes on the wealthy — needs to reveal his finances if his views on tax rates are going to serve as the basis for Obama administration policy. “Will Warren Buffett release his tax returns so we can see why he should be the standard for tax policy?” Sen. John Cornyn (R-Texas) questioned in a tweet Thursday. “If he’s going to be the gold standard, so to speak, in terms of what our tax policy should be, yeah, let’s look at it [his tax returns],” Cornyn told ABC News. [OTM/The Hill]