Punch line: Warren “Please Make Me Pay More Taxes” Buffett has been outted by his company’s proxy statement.
Apparently, Berkshire Hathaway owes back taxes … and is fighting the Federal gov’t tooth & nail to grab some disputable deductions and favorable tax treatments.
Excerpted from NY Post: “Warren Buffett, hypocrite”
This one’s truly, uh … rich: Billionaire Warren Buffett says folks like him should have to pay more taxes — but it turns out his firm, Berkshire Hathaway, hasn’t paid what it’s already owed for years.
That’s right: The company openly admits that it owes back taxes since as long ago as 2002.
“We anticipate that we will resolve all adjustments proposed by the US Internal Revenue Service (“IRS”) for the 2002 through 2004 tax years … within the next 12 months,” the firm’s annual report says.
The company also has outstanding tax issues for 2005 through 2009.
Obvious question: If Buffett really thinks he and his “mega-rich friends” should pay higher taxes, why doesn’t his firm fork over what the IRS says it already owes under current rates?
Couldn’t have said it better myself.
Pay up, Mr. Buffett … no more coddling, right?
