Yet Another Warren Buffett-Owned Company Sued for Tax Evasion
- Posted on March 9, 2012 at 5:28pm by
Mytheos Holt
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Warren Buffet’s wealth has become synonymous, in the minds of many leftists, with what they consider the evils of an unfair tax code. But is the tax code unfair, or is Buffett engaging in unscrupulous practices? Bloomberg News reports that Buffett’s Berkshire Hathaway, owns an airplane company that has been sued by the Federal Government for no less than $366 million in back taxes. Here’s the details:
NetJets Inc., the private-plane company owned by Warren Buffett’s Berkshire Hathaway Inc. (BRK/A), was countersued by the U.S. over $366 million in taxes and penalties.[...]
Claiming the federal Internal Revenue Service wrongfully assessed a so-called ticket tax — an excise tax on payments made in exchange for air transportation — to private aircraft owners maintaining their own planes, the Columbus, Ohio-based company demanded refunds and abatements.
The federal government, in a revised answer and countersuit filed yesterday in federal court in Columbus, rejected NetJets’ claims and alleged that four of the company’s units owe unpaid taxes and penalties. NetJets Aviation Inc. owes more than $302.1 million, and another unit, NetJets International, is liable for $52.9 million, the U.S. said. Executive Jet Management Inc. owes $10 million while NetJets Large Aircraft owes $1.19 million, the U.S. claimed.
This is the second time Buffett’s company, or one of its subsidiaries, has been sued by the IRS for tax evasion. The Blaze itself reported in August of last year that Berkshire Hathaway owed back taxes dating back to 2002. This new suit suggests that there may be even more to the story of the company’s loose interpretation of the tax code and, not coincidentally, to Buffett’s supposedly scandalous personal tax rate.
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Comments (59)
barber2
Posted on March 9, 2012 at 7:54pmGuess Buffet doesn’t have to worry about the IRS since he is singing the Obama campaign song! What an amazing bunch of charlatans in this Far Left Democrat crowd. Soros’ media money has paid off in spades as the NYT also spouts their “ economy improvement” campaign lies in articles. Just more of their 99% hooey which does not “occupy ” reality but rather the world of media propaganda spin.
Report Post »lukerw
Posted on March 9, 2012 at 8:11pmTo Prove that they Honest… the Left has to destroy some Leftists… just a Obama will have to crush some OWSers!
Report Post »turkey13
Posted on March 10, 2012 at 9:30amBuffet isn’t singing obamas tune – some folks callit kissing up. Those two racing stripes – one one each side of his nose are a form of brown noseing! It is only when you have these and a brown nose a full face plant. Buffet didn’t get rich by paying taxes. He found out a long time ago it is easier to bribe the right people to get rich. Pretty soon he will owe two billio bucks $$$. Of course he wants the little man to pay or it might mean competion to his Hedge fund.
Report Post »sb36695
Posted on March 9, 2012 at 7:33pmFriends of Obama don’t have to pay taxes.
Report Post »alrunner58
Posted on March 9, 2012 at 6:48pmWell well well, I thought he had friends in high places. Sounds like another distraction to me. Anyone notice this is happening a lot. Let’s stay with the real issues guys, gas prices, debt, shrinking government and oh ya most important of all, get rid on the bum in the white house.
Report Post »mowerslaman
Posted on March 9, 2012 at 6:46pmIt certainly seems that no one on the LEFT, including supporters and cabinet members, pays any taxes and gets away with it. This LEFT WING LOON administration is a true nightmare that the Founding Fathers were trying to safe guard against with the U S Constitution. But then those on the LEFT have any respect for the Constitution and endlessly work to destroy it. May the VENGEANCE OF GOD BE UPON THEM!
Report Post »Exrepublisheep
Posted on March 9, 2012 at 6:56pmYou make little sense. It‘s like you didn’t even read the articlce…
Report Post »the gray lensman
Posted on March 9, 2012 at 7:49pmI suggest that you proof read your comment before submitting it. You do want to be understood, don’t you?
Report Post »bdandsl
Posted on March 9, 2012 at 6:44pmHe was others to pay more taxes yet he doesn’t even pay his! And, don’t forget tax evader Timmy!
Report Post »AJAYW
Posted on March 9, 2012 at 6:43pmJust another example of liberals– everyone else pays not them.
Report Post »Fus Patrol
Posted on March 9, 2012 at 6:42pmOk, how about we stop trying to “sue” this moron and instead charge him with tax evasion criminally. Oh, wait, he’s a friend of Obama, our beloved DOJ would never prosecute that case.
Report Post »justangry
Posted on March 9, 2012 at 6:31pmAnd yet, every time he’s interviewed they kiss his back side. If the media was doing they‘re job that’s all they’d let him talk about.
Report Post »db321
Posted on March 9, 2012 at 6:43pmLeave Buffet alone and focus on Dick Chaney for shooting his friend in the face.
Report Post »justangry
Posted on March 9, 2012 at 7:47pmOh that guy is just creepy in every way.
Report Post »MCDAVE
Posted on March 9, 2012 at 6:24pmPLEASE PRESIDENT OBAMA RAISE MY TAXES…how about just pay your taxes Mr Warren Buffet…You are such a hypocrite ,I used to have some respect for you,but since you have cast your lot with Obama i now think your just another thief…working your deals to hurt America..Is that how you want to be remembered?
Report Post »MrMagoo
Posted on March 9, 2012 at 6:51pmJeffrey Immelt of General Electric is another corporate welfare King.He sucks Obama’s hiney on a regular basis.At OUR expense.
Report Post »Darmok and Jalad at Tanagra
Posted on March 9, 2012 at 6:57pmMake me pay…make me pay….wait, I am not saying that as “matter of fact” I am saying that mockingly. Gee Whiz you people in the media are dense.
Report Post »abbygirl1994
Posted on March 9, 2012 at 6:24pmI love it when the liberal left is caught stealing from the country! Mr. Buffet is a real creep.. greedy as hell when he won’t even pay his taxes. He’ll get his in the end.. and then his money won’t save him at all! Lord help us!
Report Post »tgthompson
Posted on March 9, 2012 at 6:22pmI know why Warren Buffet says Obama needs to raise taxes on the rich, because he says that he does not pay his fair share. He is right because he pays none at all. Pay up you liberal bum.
Report Post »NoNannyState4me
Posted on March 9, 2012 at 6:21pmSo this is what Obama meant by “the Buffet Rule”
We are so scr ewed.
Report Post »Detroit paperboy
Posted on March 9, 2012 at 6:20pmMaybe he can borrow it from that stupid secretary he’s always yappin about…. Robber baron , low life closet marxist pig, i hope he gets run over by one of his trains…..
Report Post »NoNannyState4me
Posted on March 9, 2012 at 6:40pm*applause*
Short, sweet, to the point. Well said.
Report Post »TRILO
Posted on March 9, 2012 at 6:20pmWasn’t uncle Warren complaining when his buddy and pal the TOTUS wanted to tax those evil jet owners? I guess he just did not want the IRS looking into their corporate books.
Hey Warren…. shut the heck up and pay your own taxes before you tell the rest of us to pay more!!!!
Report Post »Chuck Stein
Posted on March 9, 2012 at 6:14pmTHE ARTICLE’S TITLE IS WRONG: “has been sued by the Federal Government for no less than $366 million in back taxes.” — that is NOT the same as “tax evasion”. Tax evasion is a crime. A tax deficiency is a dunning letter from the government.
Report Post »cuinsong
Posted on March 9, 2012 at 6:12pmNo wonder he is kissing a&& and volunteering to pay more! Its cheaper then paying what he owes!
Report Post »He will probably get a big discount from NObama for his cooperation in the push for higher taxes?
This song fits him “Their Wrong” http://www.reverbnation.com/play_now/song_12090926
bitter clinger
Posted on March 9, 2012 at 6:12pmHey Buffett here’s a tip,put all your money on green jobs.
Report Post »Itsjusttim
Posted on March 9, 2012 at 5:58pmSometimes I wonder if Warren Buffet is suing himself.
Report Post »Itsjusttim
Posted on March 9, 2012 at 6:01pmI just have to look in Buffet‘s eyes to know what he’s all about, as with most of those top dogs. It’s easier for a camel.
Report Post »MrMagoo
Posted on March 9, 2012 at 5:55pmWarren’s $Buffet$ getting a hard (ph)ucking from Uncle Sam’s Gestapo Unit.Cry me a river.
Report Post »nrmlgy4749
Posted on March 9, 2012 at 5:54pmI don’t understand the fascination with Warren Buffett. He is presented as a “saintly old man”, but for all intents and purposes he is a hypocrite and a fraud. One reason the Obama administration wants to shelve the pipleline from Canida is that Buffett stands to make millions with his railroad transporting that oil. All you’ve got to do is follow the money and you can explain everything that troubles you.
Report Post »NoNannyState4me
Posted on March 9, 2012 at 6:22pmHim and Oblama, birds of a feather…
“I don’t understand the fascination with Warren Buffett. He is presented as a “saintly old man”, but for all intents and purposes he is a hypocrite and a fraud.”
Report Post »BurntHills
Posted on March 9, 2012 at 5:53pmanyone involved with obama is totally corrupt.
looks like the Broncos are dumping American Christian TIM TEBOW in favor of manning.
Report Post »NoNannyState4me
Posted on March 9, 2012 at 6:26pmHave you seen Tebow’s girlfriend though? Never thought prayer boy would hit up a nudee model, but I approve!
Report Post »spirited
Posted on March 9, 2012 at 5:48pmGuess Buffet’s secretary might (actually) pay more taxes than Warren.
>pathetic!
Report Post »RJJinGadsden
Posted on March 9, 2012 at 5:55pmLOL, that was my first thought as I read the headline myself.
Report Post »NoNannyState4me
Posted on March 9, 2012 at 7:15pmSomehow I get the feeling she doesn’t pay any taxes either after his team finds her the ability to write off her pantyhose and zirconium belly chain (shiver) as a work uniform.
Report Post »Anamah
Posted on March 9, 2012 at 5:43pmI find despicable this kind of man. So hypocrite!
Report Post »Snowleopard {gallery of cat folks}
Posted on March 9, 2012 at 5:40pmOne more example of an out of control government where the real monsters of tax evasion fail to be brought to trial due to the cronism system of Obama.
Report Post »pamela kay
Posted on March 9, 2012 at 5:34pmWarren Buffett sat on his tuffet claiming he would pay more tax…..Istead he is owing more than was showing and is guilty of hiding the facts.
Report Post »NancyBee
Posted on March 9, 2012 at 5:40pmAwesome!
Report Post »KingCanon
Posted on March 9, 2012 at 5:42pm:o
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