04.05.2012 1

Buffett still owes almost $1 billion in taxes

Warren BuffettBy Bill Wilson — It is ironic that Warren Buffett continues to allow himself to be the front-man for Obama’s call for higher taxes, when his own company, Berkshire Hathaway, has outstanding tax bills going back a decade of almost $1 billion. While Buffett has every right to dispute the IRS’ tax charges, this makes him a particularly weak spokesperson for increasing taxes on others. If he sincerely felt that he was under-taxed, he could resolve this moral dilemma immediately by ordering his company to resolve its disputed tax debts.

The Senate is preparing to vote on a tax increase bill, coined the Buffett rule, on April 16. Under the Buffett rule everyone making more than $1 million will pay at least 30 percent of their income in taxes — whether it comes from income or investment.

Bill Wilson is the President of Americans for Limited Government. You can follow him on Twitter at @BillWilsonALG.

Also Read:

“Buffett rule heads to the Senate; Let the tax season begin,” by Rebekah Rast, April 5, 2012.

“Buffett’s Billion-Dollar Tax Hypocrisy,” by ALG President Bill Wilson, August 30, 2011.

“Warren Buffett’s taxing hypocrisy,” by ALG President Bill Wilson, August 24, 2011.

Copyright © 2008-2021 Americans for Limited Government