Posted on 12/25/2007 4:18:13 PM PST by mdittmar
Union Tank Car makes the big black railroad tank cars you see being pulled around the countryside in RR trains. Ethanol, asphalt, chemicals and other products that cannot flow through a pipeline are delivered by tank car. Buffet also owns a nice piece of the BN railroad which delivers the tank cars at nearly triple the rate of five years ago. The cost of one car with internal coils is more than $100,000.
Intriguing news.
You, too, can hold a holding company. Holding companies are legal under the XIVth Amend and the State of New Jersey. What a country!
If Buffet had paid his “fair” share of taxes, for the children of course, then he would not have had enough money to buy Marmon for himself as a Christmas present.
America is just awesome. One family, $8.5 billion business. Incredible.
Buffet could buy Iran but he doesn’t invest where the gov’t has a history of nationalizing businesses.
“I think Marmon made class 8 trucks through 1995 or so...”
Yup, Marmon-Harringtons. They started making them, I think, in the ‘30s after they got out of the car business. The trucks, like the cars, were beautiful things. A client of mine still runs one long hauling.
Berkshire uses its insurance companies to shield itself from capital gains taxes.
The old fool is campaigning for the Hildebeast so if she gets elected (horror of horrors) and “taxes the rich” and “takes the profit” he may feel some pain.
He’s still sharp but no doubt is running on the old tried and tested rules rather than inspiration at this point.
I am sure BH uses every legal loophole they can find to avoid taxes, like previous losses from companies they bought to cover profit from the winners. Nothing wrong with that but this guy is trying to get the socialist elected. Very weird.
Funny how things affect us all.
Do you remember his complaint of a month or so ago that he was paying less taxes than his office staff?
I never got that. Was he for higher taxes for himself, or for lower taxes for his employees?
In either case I would have agreed with him.
He appeared with Hillary and claimed that his secretary paid more than he did proving that the tax system favors the rich etc. etc. In any case, he doesnt take any salary and thus is limited to a 15% capital gains rate. Secretary is in the 23% range or somewhere above him. He has the option to simply “volunteer” to pay more taxes, but what liberal ever does that.
Smart-aleck dept.: They make the ones marked "UTLX." I used to work for a UT subcontractor many years ago. General American (GATX) and American Car & Foundry (ACFX), two other railcar manufacturers, were nearby. We made parts for them too. After all these years, I still look for their marks when I get stopped by a train.
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