Brilliant Warren Buffett bought a company that subsequently lost 3 billion!!

Warren Buffett struts around and sprouts the cute little gem about paying taxes every year and never using a tax loss carry-forward.

Of course, he meant his personal taxes.

From page 137 of Bud Labitan's book "Moats: The competitive Advantages of Buffett and Munger Businesses"

In 2006 he lost a cumulative pre-tax loss of 409 million from bad derivatives at Gen Re, which he wound down.

Also:

Two former General Re executives were investigated by the SEC and had made dubious underwriting decisions that resulted in losses close to three billion in 2001.

Do you think he wrote those fucking losses off??? Of course he wrote those off against profits, who the fuck wouldn't?

My only objection is him acting like and wanting to trick people into believing Trump did anything different.

It's time for Warren to retire and let his farmer son take over. At least he's not an attention whore like his old man.

Donald Trump is a homeless guy on a freeway off ramp with a "Will Work for Food" sign compared to Warren Buffet.

Donald Trump is a homeless guy on a freeway off ramp with a "Will Work for Food" sign compared to Warren Buffet. Originally Posted by SisterTwister

Maybe so, but Warren took that tax loss carryforward, among many others, in his businesses.

Why, I wouldn't be surprised if he bought businesses that their main asset was a tax loss carry-forward - you can do that, and I bet Warren knows it. Get rid of the competition like he prefers, and pay less in tax.

Another little Buffett snippet on why he bought Phillip Morris, and I'm quoting from memory here, so don't sue me..LOL.

"Their product (Marlborough cigarettes) costs a dime to make, they sell it for a dollar, and their customers are hooked on it!"

The SOB made billions off tobacco and yet the liberals love him, why is that?

His fucking diesel trains ship oil from the Bakken fracking fields, occasionally crash and spill far more oil than pipelines do (by percentage) and the liberals love him for opposing the TransCanada pipeline, which he only opposed to limit competition and get 10-15 dollars per barrel of oil shipped. Fucking hypocrites!!!

Buffett gave over 3b to charity, which is about 75% of Drumpf's net worth.

Drumpf is going to spend the next four weeks trying to disgust the voters into staying ar home.

But i think he's past the tipping point. Unshackled and uncensored. All he can do is make his ass whipping more humiliating for this country. For he will Shirley get his ass whipped.

Warren Buffett struts around and sprouts the cute little gem about paying taxes every year and never using a tax loss carry-forward.

Of course, he meant his personal taxes.

Do you think he wrote those fucking losses off??? Of course he wrote those off against profits, who the fuck wouldn't? Originally Posted by DSK

Buffett advocates a higher estate tax. This is because his company, Berkshire Hathaway, buys family owned businesses that must sell when their founders die in order to pay the estate tax. So a higher tax gives Buffett a competitive advantage. And the estate tax in percentage terms will have virtually no effect on the after tax value of Buffett's estate, because of charitable deductions.

Buffett advocates a higher tax on dividends. This is because Berkshire Hathaway does not pay dividends, so Buffett doesn't have to pay the tax. Furthermore, taxes on dividends received by corporations like Berkshire are very low, ranging from 0% to 10.5% depending on ownership percentage. While Buffett's company pays dividend tax at very low rates, inviduals pay at much higher maximum rates, from 23.8% to 54%, depending on whether the dividend is "qualified" and what state the recipient resides in. This insistence on the part of Buffett and other Democrats to tax dividends received by individuals at high rates is bad for the economy. It encourages poorly-performing companies to hold onto cash or spend it unwisely, instead of distributing it to shareholders in the form of dividends. The shareholders would presumably invest dividends in other businesses with higher rates of return, thus leading to increased GDP, productivity, etc.

Buffett wants the rich and upper middle class to pay higher personal income taxes. This is because he pays virtually no personal income tax, compared to his wealth or his beneficial interest in Berkshire Hathaway's income. Since he doesn't sell Berkshire Hathaway stock and Berkshire doesn't pay dividends, he has very little personal income.

Has Buffett ever proposed increasing the corporate income tax? Hahahah!!! Of course not. Berkshire would have to pay more tax and that would effect him adversely.

It's time for Warren to retire and let his farmer son take over. At least he's not an attention whore like his old man. Originally Posted by bambino

I hope not.

Buffett advocates a higher estate tax. This is because his company, Berkshire Hathaway, buys family owned businesses that must sell when their founders die in order to pay the estate tax. So a higher tax gives Buffett a competitive advantage. And the tax in percentage terms will have virtually no effect on the after tax value of Buffett's estate, because of charitable deductions.

Buffett advocates a higher tax on dividends. This is because Berkshire Hathaway does not pay dividends, so Buffett doesn't have to pay the tax. Furthermore, taxes on dividends received by corporations like Berkshire are very low, ranging from 0% to 10.5% depending on ownership percentage. Maximum marginal rates paid by individuals range from 23.8% to 54%, depending on whether the dividend is "qualified" and what state the recipient resides in. This insistence on the part of Buffett and other Democrats to tax dividends at high rates is bad for the economy. It encourages poorly-performing companies to hold onto cash or spend it unwisely, instead of distributing it to shareholders in the form of dividends. The shareholders would presumably invest dividends in other businesses with higher rates of returns, thus leading to increased GDP, productivity, etc.

Buffett wants the rich and upper middle class to pay higher personal income taxes. This is because he pays virtually no personal income tax, compared to his wealth or his beneficial interest in Berkshire Hathaway's income. Since he doesn't sell Berkshire Hathaway stock and Berkshire doesn't pay dividends, he has very little personal income.

Has Buffett ever proposed increasing the corporate income tax? Hahahah!!! Of course not. Berkshire would have to pay more tax and that would effect him adversely. Originally Posted by Tiny

Exactly - I just wish he would admit it and quit pretending to be such a great liberal on taxes.

Buffett gave over 3b to charity, which is about 75% of Drumpf's net worth.

Drumpf is going to spend the next four weeks trying to disgust the voters into staying ar home.

But i think he's past the tipping point. Unshackled and uncensored. All he can do is make his ass whipping more humiliating for this country. For he will Shirley get his ass whipped. Originally Posted by Yssup Rider

While it is good that he has given that money to charity, presumably, he does it in a clever and tax advantaged way. He gets the deduction, though not all of it because of certain limits on the amount of deductions for charity against your income, but he also lowers the taxable basis of his estate by the amount of the contribution.

So why in the fuck does he criticize Trump for his tax deductions?

Apparently he isn't as "brilliant" as Drumpf.

Apparently he isn't as "brilliant" as Drumpf. Originally Posted by Yssup Rider

Warren needs the government to allow him to monopolize his industries.

I guess you know his Nevada utility is hard on solar, right?

Warren doesn't care for the government making him buy excess solar power way above the price he pays for natgas electricity generation. Solar competes with his monopoly. Hence, he is cozy with the government that protects him, and coyly deceptive about his reasons. I understand it, but I get irritated by his propaganda arm pretending his some new age liberal when he is is really just an unemotional profiteer.

Trump is better at getting media attention than Warren is, and Warren is jealous.

Warren Buffet is the reason the pipeline from Canada to the gulf coast was not approved. He owns the train that hauls the sands oil. The pipeline would have severely hurt his train business. Solution, buy a few politicians and stop the pipeline. The end result is that instead of refining oil from Canada we are buying oil from Venezuela our really good friends to the south.

Warren Buffet is the reason the pipeline from Canada to the gulf coast was not approved. He owns the train that hauls the sands oil. The pipeline would have severely hurt his train business. Solution, buy a few politicians and stop the pipeline. The end result is that instead of refining oil from Canada we are buying oil from Venezuela our really good friends to the south. Originally Posted by The2Dogs

Buffet is as crooked as Hillary. Birds of a feather......

Warren Buffet is the reason the pipeline from Canada to the gulf coast was not approved. He owns the train that hauls the sands oil. The pipeline would have severely hurt his train business. Solution, buy a few politicians and stop the pipeline. The end result is that instead of refining oil from Canada we are buying oil from Venezuela our really good friends to the south. Originally Posted by The2Dogs

He probably sends money to the protesters and their organizations to keep them going.

Buffett gave over 3b to charity, which is about 75% of Drumpf's net worth.

Drumpf is going to spend the next four weeks trying to disgust the voters into staying ar home.

But i think he's past the tipping point. Unshackled and uncensored. All he can do is make his ass whipping more humiliating for this country. For he will Shirley get his ass whipped. Originally Posted by Yssup Rider

Buffet isn't running for President as you so often say about Billy the Bushwhacker.