HEDGE FUND MANAGER: Warren Buffett 'Is Basically A Tax Evader'

Business Insider ^ | May 15, 2014 | Julia La Roche

[george76]

Macro fund manager John Burbank of Passport Capital joked that Warren Buffett is "basically a tax evader" at the SALT conference and attendees started clapping and laughing.

...

"I just hate when he tells you to pay taxes," Burbank added to more cheers and laughs from the crowd.

"That's a different concept. If you're asking me if he's become somewhat hypocritical. I don't want to go there. What I'm saying is his returns after tax are phenomenal. And nobody talks about the fact that he's tax efficient. Political views, etc. I don't want to go there," Cooperman said.

[nickcarraway]

So, he’s a progressive who gives his money to the “right” causes.

[ronnie raygun]

Evil like soros

[hinckley buzzard]

Buffet benefitted from his father being a well connected investment banker and sometime Congressman. Any one wanting to rail about "privilege" need look no further than the WindBag of Omaha.

[griswold3]

I do not blame Buffett for using all the law allows to pay only what is due. But, the Warren, according to the IRS, owes about $1B in taxes because expenses were not allowed. He should at least pay that.

[DB]

And who do think bought the politicians to get the loop holes into the tax code in the first place. Return on "investment" can be pretty good on political purchases when you're in that financial realm.

[Old Yeller]

Mark 8:36
King James Version (KJV)
For what shall it profit a man, if he shall gain the whole world, and lose his own soul?

[whistleduck]

Amen. The Omaha curmudgeon has used his connections to the political class to enhance his portfolio for decades.

[freerepublicchat]

He’s a tax acoider, not a tax evader.

There are thousands of pages of the tax code telling you how not to pay taxes.

If you are too stupid or too lazy to read and use them tought shit!

Don't be a dolt. If one's income arises out of professional skills or labor and not capital, then you can't apply most of those tax saving rules. The tax code favors income from capital and not the income from the application of professional skills and labor.

[binge_drinking]

Why should this come as a surprise? Liberals have always been the do-as-I-say-not-as-I-do types.

[yldstrk]

as my federal tax professor said, tax avoidance is legal tax evasion is not

I should have gone into tax avoidance

[Dryman]

Avoidance is not Evasion.

[Dryman]

You beat me. We had similar instructors.

[mgist]

I get the impression that the Obama regime gets well known people, with tax burdens, and uses them in a quid quo pro way for propaganda. A friend told me they did that in Cuba. To this day they catch a llot of famous people (politicians) in compromising positions, (Dirty pix). Hotels are loaded with cameras and recorders in Cuba. So famous people like soccer player Maradonna left Cuba singing it's praises. She said they probably had gay sex pics of him while he was a recoverring cocaine addict in Havana. It's a small price to pay.

[pepsionice]

There should be a general scale of how much you pay in taxes, with no credits for nothing. All the Senate does is create tax credits, upon more tax credits....making certain people or industries ‘special’. Nothing about the taxation program is fair or equatable.