Peter Schiff - Debunking Warren Buffett & other tax myths (8-Jul-11)(FINANCE & ECONOMICS series)

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[alvmifollower]

As a former investor of BRK.A and BRK.B, 15 years ago, Warren Buffett pays himself $100,000.00/year in salary. Berkshire Hathaway doesn't pay a dividend either.

[alvmifollower]

I read the whole page and really don't see where any alleged fraud took place. A broker's advice to his clients is really just that. The actions of an investor fall squarely on the investor's shoulders and the investor himself is 100% responsible not the broker. Ultimately no one can predict the stock market or individual stocks with complete accuracy; however, based on my readings from the 290 books I have read from the Mises Institute, and the ABC theory, he and Ron Paul are quite accurate.

[YaHuWaHservant]

@alvmifollower Socialism does not work. You and I are in agreement on that. However, Warren Buffet is a liar. He says he wants the rich to be taxed however should a subsidiary of his owe the IRS 700 million dollars in unpaid taxes he will fight them tooth/nail. 9/10 I support the business fighting of the leech that is the Federal Government. However when that business is a subsidiary of Berkshire Hathaway with Warren Buffet as the majority shareholder I can't help but laugh at the irony.

[alvmifollower]

@YaHuWaHservant The companies held by Berkshire Hathaway may pay dividends; however, as far a I know, Berkshire Hathaway itself doesn't pay dividends. It's interesting to note now that Peter Schiff is now mentioning on his radio show that Mr. Buffett does pay himself a $100,000.00 salary. He has to pay himself something, otherwise how would he live? Personally, the fed, the I.R.S., the whole government for that matter, should be disbanded Socialism doesn't work.

[YaHuWaHservant]

Warren Buffett, who has been running around complaining that the government should "stop coddling the super-rich" and should raise taxes, is reportedly suing the IRS to avoid $643 million in taxes that the government says Berkshire Hathaway's NetJets subsidiary owes the government for failing to collect ticket taxes from NetJets customers (who include Mr. Buffett himself).

[YaHuWaHservant]

@alvmifollower 27 of Berkshire Hathaway’s 33 stock holdings pay cash dividends.

[luizcadu]

I'm Brazilian and there's a guy here name Eike Batista, who is the 8th richest person in the world. Most of his wealth is invested in infrastructure, technology and commodities, which employ 20.000 people or more. He is a job creator.

But he doesn't complain about paying taxes, govt. regulations and environmental laws. He knows that, in the long run, government actions and investments benefit him as well. it seems to me that the wealthy ones who want tax cuts are those who don't produce.

[mavriksfan11]

@21stCenturyEconomy Sure. But this guy is still lying. Furthermore, Berkshire-Hill doesn't pay all its taxes like most corporations do. They knock off around 10% of the corporate tax rate of 35% in breaks and then also owe back taxes dating back to 2002, which the IRS has really never tried to claim. I don't really care about the politics of the matter. But it's very clear that this guy was lying about certain things.

[21stCenturyEconomy]

@mavriksfan11 $100,000 = 0 when it comes to warren buffett ;-)

[mavriksfan11]

Warren Buffett makes a $100,000 salary from Berkshire-Hill. What is this guy talking about?!

[frogse]

@rgs11 Thank you friend, but I feel I am way ahead of you. I don't watch TV, and have recently started reading Security Analysis, which is a fascinating read. Now let me give you an advice: unwrap your brain from the shrink wrap it came in, start using it and next time write a reply relevant to the comment that was made.

[rgs11]

@frogse fail... please go pick up a book and turn off your tv and THEN comment... Thanks!