Business

Obama Supporter Warren Buffett’s Co. Hasn’t Paid Some Taxes Since 2002

Remember when Warren Buffett — a staunch Obama supporter — said that rich people like him would be willing to pay more taxes to help out? If you do, it will probably shock you that his company, Berkshire Hathaway, has back taxes dating back to 2002.

The New York Post explains:

That’s right: As Americans for Limited Government President Bill Wilson notes, 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.

It also cites outstanding tax issues for 2005 through 2009.

That’s a big revelation. And given the gravity of it, the New York Post lets Buffett have it:

Obvious question: If Buffett really thinks he and his “mega-rich friends” should pay higher taxes, why doesn’t his firm fork over what it already owes under current rates?

Likely answer: He cares more about shilling for President Obama — who’s practically made socking “millionaires and billionaires” his re-election theme song — than about kicking in more himself.

Mogulite piles on:

Ironic, isn’t it? When Warren Buffett penned that op-ed demanding he be taxed more, we assumed that meant he had actually paid his taxes. Not quite the case. Buffett’s famed company, Berkshire Hathaway, owes taxes that are nearly a decade old.

[...] They promise they’ll work it out with the IRS within the next year. Can’t Buffett just take a little out of his piggybank and pay up? For a man who so actively preaches honesty and integrity, we’re a little baffled as to why Berkshire won’t just fork over what it owes.

Earlier this month, Buffett penned a New York Times op-ed calling for increased taxes on the wealthy and even titled it “Stop codling the super-rich:”

While the poor and middle class fight for us in Afghanistan, and while most Americans struggle to make ends meet, we mega-rich continue to get our extraordinary tax breaks. Some of us are investment managers who earn billions from our daily labors but are allowed to classify our income as “carried interest,” thereby getting a bargain 15 percent tax rate. Others own stock index futures for 10 minutes and have 60 percent of their gain taxed at 15 percent, as if they’d been long-term investors.

And as The Blaze pointed out when that op-ed was published, this has long been a rallying cry for Buffett. Consider this 2007 interview he gave to Tom Brokaw:

So maybe it’s no wonder that the Post concludes Buffet and others such as Obama are “disingenuous.”

“That’s clear from their individual behavior: Obama, Buffett and Democrats like Bill Clinton keep saying they want to pay more taxes,” the article says. “Fine. They can always write checks.”

Comments (175)

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  • THEBAT
    Posted on August 29, 2011 at 4:20pm

    This guy has nerve,im sick to my stomach<i have been researching Obama and America wouldnt belive what he has done people don,t see in there everyday lives.we are under a Dictator basically now. he literally breaks the law and nothing! he doesnt enforce the laws he is supposed to ,nothing! Tax cheats ,everywhere in his administration and here is more of the same,his supporters get away with this and he wants us to tighten our belts.if it were one of us ,we woulkd be arrested.why don,t someone arrest the guy sickining

    Report Post » THEBAT  
    • gotta light
      Posted on August 29, 2011 at 5:32pm

      WHAT!?!?!?!?!?!

      WARREN BUFFET & HIS DEADBEATS AT Berkshire Hathaway SHOULD PAY THEIR TAXES!!!!

      I guess this makes Warren Buffet a LIAR when he says the rich should pay more taxes!

      Hey bud gotta light?

      Report Post » gotta light  
    • becker88
      Posted on August 29, 2011 at 6:17pm

      Typical of the real left wing.

      http://politicalbowl.com – Political Videos

      Report Post »  
    • MIBUGNU2
      Posted on August 29, 2011 at 6:28pm

      Better Pay your Taxes Warren, Bama will take your Medal back..

      Report Post » MIBUGNU2  
    • The10thAmendment
      Posted on August 29, 2011 at 7:13pm

      This comes as a surprise to anyone? Seriously? Buffet, like Soros are coin suckers and wish to project their godhead omnipotence onto others, while themselves and because of their obvious elitism dance away from personal responsibility.

      Report Post » The10thAmendment  
    • boringolme
      Posted on August 29, 2011 at 7:40pm

      I’ve always thought if these liberal dems (including) WH employees, Fed workers, Senators etc. would actually pay THEIR taxes, we wouldn’t have to be threatened with higher taxes. Of course they are for higher taxes because the pr–ks don’t ever PAY theirs!

      Report Post »  
    • robert
      Posted on August 29, 2011 at 8:51pm

      Warren Buffet looks more like Mr. McGoo than McGoo does.

      And, like McGoo, senility is sneaking up on him very quickly.

      Report Post »  
    • ashestoashes
      Posted on August 30, 2011 at 12:12am

      Oh but wait now…Warren Buffet and that Comcast dude are among Obama’s biggest supporters. Remember all that money that Buffet made off of Tarp Funds? I don’t know exactly what the Comcast guy is getting, but since it probably involes mainstream media, I would bet that he’s getting some of that tax payer dime too.

      Report Post »  
    • UPSETVET
      Posted on August 30, 2011 at 3:32pm

      Barack and Michelle Obama’s lives are all fake and fraud. He played the poor down trodden black people to the limit to get their votes. What has Barack Hussein Obama and Michelle done for the black community ? Nothing. What do they know about the civil rights struggkle in America ? Only what they read in books. Both have been raised with silver spoons in their mouths and have taken advantage of all the “entitlements” for their schooling and daily living expenses. Their house in Chicago is in somebody elses name in order to reduce the property taxes. What a couple of FAKES !

      They both talk the talk but don’t walk the walk. Neither of them knows a thing about what the common black person in America is about. They use people to further their own personal agenda and increase their own personal wealth. The only jobs Barack and Michelle are concerned about id their own. The black unemployment rate is way above the national average of 9.2 %. It’s more like 20% but after almost three years in office Barack hasn’t lifted a fingure to help stimulate black employment.

      Michelle has started a campaign to “educate” American about how to eat more sensibly and healthier but when she eats out she devours cheeseburgers, french fries and milkshakes. Even Barack ignores her “advice”. I’ve never seen him eating an apple instead of greasy french fries, have you ? I’m fed up with the double standard politics of the Obamas. I believe the majority of the voters, black and white, ar

      Report Post »  
    • cosette
      Posted on August 31, 2011 at 9:07am

      @ Gotta light……… Liberal…Liar..=Redundant

      Report Post »  
  • simply one voice
    Posted on August 29, 2011 at 4:19pm

    Mr. Ponzi (I just bought Bank of America) Buffet should be given a free ticket to Butner Federal Correctional Complex for a lifetime seasonal vacation with Bernie (suck’em dry) Madoff. Don‘t you just love his close friend who let’s him get away with fraudulent tax evasion – our Stand-Up golf king, Pres. O? These people top themselves each and every day.

    Report Post » simply one voice  
    • let us prey
      Posted on August 29, 2011 at 4:23pm

      Don’t forget to jail suck em sore Soros.

      Report Post » let us prey  
    • simply one voice
      Posted on August 29, 2011 at 4:35pm

      George Soros is a top agent of Pazuzu. He’ll die soon enough (sic), with a one-way ticket to hell.

      Report Post » simply one voice  
    • MIBUGNU2
      Posted on August 29, 2011 at 6:41pm

      Maybe, al-Megrahe can take Soros with him on his way to Hell..

      Report Post » MIBUGNU2  
    • The truth behind the tea party
      Posted on August 29, 2011 at 7:03pm

      Where does it say they are breaking the law or that they are evading taxes. Hundreds of reasons a large corporation would have not paid taxes yet. For that matter hundreds of reason a middle calss American wouldn’t have paid taxes yet. They are legally extending their taxes and more than likely will end up paying extra if the IRS decrees. Stop talking out of the side of your mothes. Their is no place for partisan politics right now. We have a dilemma and need to fix it.

      Report Post »  
  • CINCH
    Posted on August 29, 2011 at 4:18pm

    The government does not have a tax income problem……it has a spending problem. Cut back on spending! Cut back on government.

    In addition, since China owes American citizens so much money for their bonds ($780 billion), per Peter Huessy‘s OP ED on Fox’ web site a few days ago, have our government deduct our debt to China ($800 billion), pay off the remaining balance and then start paying back our own citizens who bought these Chinese bonds on the recommendation of the American government. Win-Win….Win-Win for everyone….China, our national debt, our American citizens. Very good article, especially since S & P refuses to downgrade China’s credit rating for fear of “violating their civil rights.” What rights?? What a crock.

    Why was the American public sold such a false bill of goods by both parties regarding defaulting on our debt? Why isn’t Fox following up on this story instead of pulling the article? We deserve answers from our government and from Fox.

    Report Post »  
    • Top Hat
      Posted on August 30, 2011 at 8:59am

      Agree, we have a spending problem.

      But, since when does China owing individual American Citizens bond money and interest, become – all of the sudden, the governments money? Peter Huessy made the same mistake.

      It’s not the governments money!!! You terribly mixed apples and oranges to make a false point.

      Report Post » Top Hat  
  • paulusmaximus
    Posted on August 29, 2011 at 4:18pm

    I’m sure this story will headline the news tonight on msnbc and cnn “ Obama crony found not paying taxes”
    Barney Rangle Buffet

    Report Post » paulusmaximus  
    • avenger
      Posted on August 29, 2011 at 4:44pm

      whys is anyone surprised ?warren is part of the ruling elites.ranchers never pay ,only the cattle…

      Report Post »  
    • LVMerrily
      Posted on August 29, 2011 at 10:25pm

      You forgot Geitner and what was it, 30% of WH and Cabinet staff?

      Report Post »  
  • heavyduty
    Posted on August 29, 2011 at 4:13pm

    That’s nice to know.

    Report Post »  
    • Applehead
      Posted on August 29, 2011 at 4:23pm

      A typical Progressive/Marxist/Communist that thinks were so stupid we won’t fact check! Progressive billionaires that live in glass houses shouldn’t throw stones!!! Were being deceived from both sides!!! Please see this link that someone else on here posted! Disclaimer, I’m not against marrying outside of your race bc were all Gods children but I do believe that marrying outside your religion, especially if you have children is complicated and the Bible says such! I know nothing about the group that produced this piece but its very enlightening and I believe it to be accurate! http://www.natvan.com/who-rules-america/index.html

      Report Post »  
  • kickagrandma
    Posted on August 29, 2011 at 4:09pm

    I have never trusted warren buffet.

    No surprise here, but I would have liked to have been wrong about him.

    Report Post »  
    • shorthanded12
      Posted on August 29, 2011 at 7:17pm

      Can I add to your your list of never trusted folks?

      1. Alan Greenspan
      2. Tax Cheat Timmy Geithner
      3. Ben Bernanke
      4. Hank Paulson
      5. Barry “O”
      6. Slick Willy
      7. Nancy Pelosi
      8. Dingy Reid
      9. Maxine Waters
      10. MSNBC
      11. CNN
      12. ABC, NBC, CBS
      13. George Soros
      14. Van Jones
      15. US Government as a WHOLE!!!!!!!!!!!!!!!!!!!!
      I could go on but you get my point.

      Report Post »  
  • kryptonite
    Posted on August 29, 2011 at 4:09pm

    Marxist elite mentality.

    Report Post »  
    • cosette
      Posted on August 29, 2011 at 4:33pm

      “All animals are equal. But some are more equal than others”………. George Orwell…. Animal Farm…Buffett and Immelt = Napoleon the pig!

      Report Post »  
  • weneedrubio
    Posted on August 29, 2011 at 4:06pm

    Honesty and integrity??!! This is the man who has ridden the corrupt stock market gravy train better than anyone else in history and you mention those two words in the same sentence with his name. Why can the people of this country not see what both he and Obama are all about: THEMSELVES!!! What is it going to take for everyone to realize how corrupt they both are. HELLO!! CHICAGO!!! IS ANYONE HOME??!! The tax the rich theme song is a campaign song and will work if we don’t wake up. Everything Obama has done has been for the RICH!! Why do you think he continues to bailout the banks while the poor are starving. He is intentionally destroying the country from both ends. To quote the highly intelligent Democrat simpleton, Ed Rendell “if you can‘t see that then you’re an idiot”

    Report Post »  
    • teebubba
      Posted on August 29, 2011 at 5:58pm

      I hate to break this to you but our buddy Rubio and anyone who has any appreciable assets in this country is making money in your “corrupt stock market”.

      Report Post » teebubba  
  • MBA
    Posted on August 29, 2011 at 4:06pm

    buffett=soros=obamy=socialism. Amazing the slime that landed in this country.

    Report Post »  
    • Applehead
      Posted on August 29, 2011 at 8:46pm

      I’m glad I believe in Jesus bc this whole world is a lie that belongs to the father of lies!!! Its redemptive suffering just having to listen to all their bs and all the idiots including some of my friends that are clueless!!! Glad I have a sense of humor it helps too!! LOL!

      Report Post »  
  • americaisbleeding
    Posted on August 29, 2011 at 3:58pm

    “In the history of the world no TYRANNY has ever willingly relinquished power and no tyranny has ever been overthrown peacefully!”
    Warren Buffet and his ilk are part of the ruling elite behind the scenes that pull the strings of puppets like Obama and other “leaders”. George Soros is another. He knows damn well what game he is playing with the simpletons in our society calling for more distribution of wealth. A POS Marxist like the rest of his cronies. throw GE in there too.

    Report Post »  
    • glashole
      Posted on August 29, 2011 at 4:09pm

      This is corect! The big money guys that are willing to play the system know that they can confuse the simpletons at the IRS. Slow to act and inaccurate in their figures, they will take forever to get things figured out if you carry on a dialogue with them and in the end, guys like Buffet can make more on interest over that time than they will ever pay on back taxes. The IRS is confused internally and the big scammer, con artists, can make bank off their incompetence.

      Report Post » glashole  
    • Anonymous T. Irrelevant
      Posted on August 29, 2011 at 4:59pm

      Throw another Obama buddy in there. Google just paid 500 million in fines for carrying illegal drug advertising for international pharmaceutical exporters. Google CEO Larry Page knew all about the ads and had Google staff get around controls designed to filter such illegal ads.
      It must be nice to be able to buy your way out of jail.
      This administration is into so many crooked deals, committed so many illegal acts, it is amazing, and frustrating, what they are getting away with.

      Report Post » Anonymous T. Irrelevant  
  • MandM52
    Posted on August 29, 2011 at 3:58pm

    Does everyone now understand that the elites such as Soros, the Obamas’, Buffett, Pelosi, et. al. have a different set of rules than the rest of us? That is why they get on the sanctimonious soapboxes and preach to the rest of us. Truth will always win America.

    Report Post » MandM52  
  • boca_chica
    Posted on August 29, 2011 at 3:58pm

    This is nothing new-a rich progressive saying one thing and doing another-maybe he’s decided he now likes the limelight.

    Report Post »  
  • schmite123oh
    Posted on August 29, 2011 at 3:55pm

    Lip service. you can only tax income, not wealth, he has his money, what does he care about tax rates on future income. People need to understand that rich people who are for tax increases usually already have made their wealth. Anybody still trying to earn a living and get to that level of wealth are the ones who get stuck swimming up river.

    Report Post »  
  • Bonnieblue2A
    Posted on August 29, 2011 at 3:51pm

    Maybe Issa should investigate that Buffet/Obama meeting at Martha’s Vinyard and find out what kind of guarantee Buffet got that Bank of America was “too big to fail” and would receive a bailout before he purchased $5 billion in preferred stcok and then announced the Obama fundraiser?

    Report Post »  
    • BeckaBrwnEyes
      Posted on August 29, 2011 at 4:00pm

      I’m with you on that one. The whole thing stinks to high heaven.

      Report Post »  
    • LVMerrily
      Posted on August 29, 2011 at 10:31pm

      They’re setting up Bank of America to be THE bank for the new world order . . . and that they believe they will be running the NWO.

      Report Post »  
  • rfycom
    Posted on August 29, 2011 at 3:51pm

    Leave him alone he is a good American. I don’t like how he became wealthy by making money off money. I prefer people like Steve Jobs who made something and created wealthy.

    Report Post »  
  • Rightallalong
    Posted on August 29, 2011 at 3:50pm

    If people don‘t yet see that this president and his ’buddies‘ feel like they are somehow better than the rest of us ’common’ people then nothing will ever convince them. I for one am so sick of the elitism this man has revolving around him that I could spit….except I am sure the EPA will have a new regulation on that soon.

    Report Post » Rightallalong  
  • microace
    Posted on August 29, 2011 at 3:49pm

    I’ve said all along, we don’t need new taxes, we don’t need the rich to pay more, what we need is for the people who don’t pay to pay up.

    Report Post »  
    • LVMerrily
      Posted on August 29, 2011 at 10:36pm

      AMEN. And stop the “Tax Refunds” for the Low Income Credit. How are there tax refunds when NO taxes are paid. Everyone should pay something = their fair share (dues to live in the USA).

      Report Post »  
    • bleuze
      Posted on August 31, 2011 at 2:31am

      Did you know that the unions are exempt from paying taxes. Shared sacifice my a__ __!
      Unions earn billions, have a political agenda, and have the balls to ask for tax payer money!

      Report Post » bleuze  
  • Bonnieblue2A
    Posted on August 29, 2011 at 3:49pm

    Taxes are only for the little people. Every war cry to “tax the rich” has resulted in higher taxes for the middle class (ex. AMT). Can you imagine what would happen if the average citizen brushed off their tax responsibility to the IRS and proclaimed they’d eventually get around to paying?

    Laws for us but NOT for Obama’s inner circle!

    Report Post »  
    • progressiveslayer
      Posted on August 29, 2011 at 3:53pm

      Laws do not apply to the ruling class Marxist form of government we’re currently subjected to.

      Report Post » progressiveslayer  
    • MIBUGNU2
      Posted on August 29, 2011 at 4:18pm

      “That’s clear from their individual behavior: Obama, Buffett and Democrats like Bill Clinton keep saying they want to pay more taxes,”

      Think any of These **************** will put their MONEY where
      Their mouth is …They all talk a lot of Bullshi***See No Money..

      Report Post » MIBUGNU2  
    • pandora
      Posted on August 29, 2011 at 6:14pm

      “Taxes are only for the little people” – In reality, taxes are only for the middle class. The rich don‘t need income so they don’t pay, and the poor don’t make enough to pay anything. The middle class gets stuck with the bill. This is how the progressives are working the system. If they tax (steal) everything from the middle class they can effectively eliminate it. The rich rule as the elite and the poor are dependents of the government. Comrade Obama is completing his mission. The left who protest his actions are only a dog and pont show to make the rest of us think Obama is not doing well with his own party. Don’t fall for the old shell game. The left loves him for destroying capitalism. Buffet and Soros both need to be incarcerated. They are the world’s leading white collar criminals.

      Report Post »  
  • rot_soldier
    Posted on August 29, 2011 at 3:47pm

    Remember folks…. any move that Buffet makes is to make another dollar. He’s just like any other mega-rich dirtbag. He could care less about the military, poor or middle class. If a little op-ed can make him a few more bucks, he’ll be on it. Until he pays his debts don’t, for a minute, take his words as any form of sincerity.

    Report Post »  
  • welovetheUSA
    Posted on August 29, 2011 at 3:46pm

    Seems Obama surrounds himself with with people who are above the law, they donot pay their taxes, yet we are suppose to pay for everyone elses including the Buffett.

    Report Post » welovetheUSA  
  • RightUnite
    Posted on August 29, 2011 at 3:44pm

    Old friggin senile fool. If these idiots paid their taxes rather than finding loopholes we wouldn’t be in the pickle we find ourselves in. Oh wait a minute… There’s a democrap in the WH… Never mind….

    Report Post »  
  • welovetheUSA
    Posted on August 29, 2011 at 3:44pm

    Amazing how Obama surrounds himself with people who screw the tax payer and middleclass…….Why is this man allowed a free pass?

    Report Post » welovetheUSA  
    • rot_soldier
      Posted on August 29, 2011 at 3:47pm

      because he owns the press or it’s his handlers than own them.

      Report Post »  
  • progressiveslayer
    Posted on August 29, 2011 at 3:44pm

    Buffet is a crony capitalist,he wants government involved to keep his competitors at bay and avoid taxes.
    Let the free market determine a companies fate,and end all forms of welfare corporate or otherwise.

    Report Post » progressiveslayer  
    • hauschild
      Posted on August 29, 2011 at 3:48pm

      Yeah, and I also love how the media has portrayed Warren Buffet as some type of Mother Theresa of the corporate world simply because he is from Nebraska and speaks softly. The fact is, you can’t possibly get that rich without stepping on and over a lot of people.

      Report Post »  
    • Berbel73
      Posted on August 29, 2011 at 6:41pm

      Well said Progressiveslayer! Capitalism isn’t the problem, it’s the progressives and their marxist agenda in league with the communist unions that have corrupted the system and the tenets of TEA PARTY are the solution.

      Report Post »  
  • lillymckim
    Posted on August 29, 2011 at 3:43pm

    Oh this story is just too rich… don’t you just love the hypocrisy from Warren Buffet ..just pathetic
    Buffet gets a “medal” from Obama and Obama got $$$ for the next election… sweet

    Report Post » lillymckim  
  • Hollie
    Posted on August 29, 2011 at 3:43pm

    Hey Buffet, you moron, just write a check and send it ——–what is your problem?

    Report Post »  
    • HKS
      Posted on August 29, 2011 at 3:47pm

      He might consider just paying his taxes and quit using the loopholes.

      Report Post » HKS  
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