|Warren Buffet May Owe A Billion Dollars In Back Taxes
Obama’s favorite billionaire isn’t quite ready to practice what he preaches.
Events | August 31, 2011
Warren Buffett, President Obama’s pet billionaire, spends a great deal of time calling for tax increases on wealthy people. He began a recent New York Times op-ed, entitled “Stop Coddling the Super-Rich,” as follows:
OUR leaders have asked for “shared sacrifice.” But when they did the asking, they spared me. I checked with my mega-rich friends to learn what pain they were expecting. They, too, were left untouched.That’s right, serfs: anything your benevolent “leaders” in Washington allow you to keep is a “blessing” that has been “showered” upon you. All money rightfully belongs to the State. It’s about time you spotted owls got with the program.
Funny thing is, it turns out Buffett was being… shall we say… disingenuous when he claimed his “leaders” never got around to asking for his “shared sacrifice.” His company, Berkshire Hathaway, has been fighting the IRS tooth and nail to avoid paying its federal tax bill for nearly a decade.
How much of the State’s rightful money has this hypocrite been clutching in a white-knuckled death grip? Oh, only about a billion dollars or so. Bill Wilson of Americans for Limited Government tallies up the bill:
Using only publicly-available documents, a certified public accountant (CPA) detailed Berkshire Hathaway’s tax problems to ALG researcher Richard McCarty. Now, the American people have a better idea of how much in back taxes the company could owe Uncle Sam.On top of this tax bill, figure the value of the time IRS agents have invested trying to collect it – they don’t work cheap, and we pay their salaries – and the resources Buffett’s people have invested fighting back. All of which would have been saved if Buffett simply practiced what he preached, and willingly handed over his fortune to the brilliant and compassionate “leaders” he commands the rest of us to support without resistance.
Warren Buffet is no different from the other liars and frauds orbiting Barack Obama. His hypocrisy just runs billions of dollars deeper. When it comes to “shared sacrifice,” you do the sacrificing, and they do the sharing.