As always, it is really about taxing the other guy…

Warren Buffet calls for tax increases one day, and engages in financial gymnastics to avoid them the next.

Warren Buffett’s $1.2 billion share buyback from a single unnamed investor likely helped that person’s estate save substantially on taxes, just one day after the Berkshire Hathaway CEO said the rich should actually be paying more, not less, when they die. With the “fiscal cliff” looming and … taxes set to rise dramatically in less than three weeks, the timing was seen as advantageous — and, according to Berkshire watchers, also out of place in the context of Buffett’s recent tax activism. … Berkshire said it bought 9,200 Class A shares from “the estate of a long-time shareholder,” whom it did not name, at $131,000 per share, a price in line with where Berkshire has traded in recent weeks. …

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2 Responses to As always, it is really about taxing the other guy…

  1. Powens says:

    RD, I don’t have a problem with the perceived discrepancy between buffet’s actions and words. I disagree with him on how much people should have in taxes (probably), but he is playing the game as i see it. Like the article that was posted on google today (12/13/12). there are tax laws and rules and a company navigates those rules as best it can to pay as little tax as possible, personally or as a company. My guess is that buffet would say, the rich should be made to pay more and the laws should enforce that, not just appear that way.

    again, i do not agree with him, i just don’t see him as being hypocritical. just my .02.

    • R.D. Walker says:

      I get your point and don’t disagree in principle. Buffett, however, has made himself a political figure and opened himself up to this type of criticism. He has inserted himself in the political process, made public statement that he desires to pay more taxes and then proven by his actions that he, in fact, does not.

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