Warren Buffett's Reported Plans to Avoid Taxes and the Buffett Rule

Is there a darker side to the Berkshire Hathaway CEO? What does the Keystone Pipeline have to do with Warren Buffett? Is Buffett being honest about how much his secretary earns? "The Wall Street Journal" outlined a likely method by which Warren Buffett could avoid the so-called taxes under the Buffett Rule. So why is he calling for higher taxes on the rich? Could it be that he is just leading the Occupiers and Obamanistas a down a path by which he can still avoid taxes while reaping huge gains for his investors? Find out.

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[LampPlaceThing]

5:42 "He's in bed with government in the most intimate way, that sometimes when Barrack Obama rolls over in bed, he says... 'hey Warren'.."

Who else here had a vivid mental image of that?

[wye4379]

Lets not forget that good old folksy uncle Warren made some of his best investments on the back of the estate tax.

An explanation: For family run companies, the death of the founder typically results in an enormous tax bill for his/her heirs. This is where good old uncle Warren comes in. He takes a minority stake in said well run company for an amount sufficient to pay the tax bill. Needless to say this is an investment that wouldn't be available to him if the heirs didn't have to sell.

[PeeboTyson]

If Warren Buffet truly cared for the poor, he could do more for them by giving to or founding charities then he would by paying higher taxes ( assuming he actually planned to pay higher taxes ).

[yankydoodle83]

Whoa...interesting.....

[xaviqaz]

@GamerFromJump In Europe we have a "beautiful" flat tax called VAT, which is raised by 1 or 2 points during each recession/budget crisis. In fact, acording to Eurostat, in this "socialist paradise" taxes on consumption are the first source of revenue. Taxes on capital only make up 1/6 of total revenue, and our rich people pay 30% of all taxes (vs. 45% in USA).

[SAOrules]

Here is what I think. No one, from any tax bracket in the USA, should pay taxes. Not one person. Everybody, for the good of our country, should stop paying their taxes all at once until government spending is brought under control, and the deficit is reduced.

[GamerFromJump]

Also, there is no need for a law against insider trading by gov't, because it's already illegal for EVERYONE! Prosecute Congress now!

[GamerFromJump]

This is why I'm against all taxes that are not flat. Giving government the ability to boost one form of income as "good" and another form as "evil", and tax accordingly is the route to evil. Take that power away. Flat tax/Fair tax now!

[Theskybluelake]

always Thumbs Up... You Guys are Always so Great... I always learn so much...

[BH206L3]

Good one guys, I didn't know about the Rail Tanker thing with the Oil. Sounds like a real inside deal to me, the kind of deal that sends people to federal prison.

[LampPlaceThing]

0:30 "among the occupy wall street foot soldiers you will see comments like: 'well at least there is one decent 1%'r'; or 'finally someone without greed' or..."

(MY PERSONAL FAVOURITE):

0:38 "'He seems like a great guy. Lets kill him last.'" LOL [laugh].