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12 Oct 2011 20:16

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Biz: Warren Buffett made lots of money in 2010, paid fairly low taxes

  • $63 million dollars in 2010 alone for Mr. Berkshire Hathaway source
  • » And he only paid 17.4% in taxes: Buffett, whose monetary gains are the subject of scrutiny because of the fact that he’s the inspiration for Obama’s “Buffett Rule” (a notable part of the president’s jobs plan), released the earnings after being prodded by Rep. Tim Huelskamp of Kansas, a Republican. Of note: Just $39,814,784 of his earnings were taxable, with the rest going to deductions and exemptions (like, say, his fairly robust charitable givings). And in case you’re wondering, Warren’s tax rate is low largely because he makes most of his income through investing. In the end, how much did he pay in taxes? A paltry $7 million (or a mere nine percent in taxes on adjusted gross income).
Posted by Ernie Smith • 0 Comments • Permalink

17 Sep 2011 20:03

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Politics: Obama to make tax-the-wealthy push … and credit Warren Buffett

  • Remember how Warren Buffett wrote that the government should raise the taxes of the super-wealthy … you know, folks like him? Well, it looks like someone with a lot of power to put that plan into action read that New York Times editorial. Obama’s going to make a push to tax the super-wealthy (those who make more than $1 million per year) at the same rate as the middle-class, and he’s calling it the “Buffett Rule.” Great selling point for Obama, but will it be enough for all the other rich people in Congress? Good question. (photo via Medill DC) source
Posted by Ernie Smith • 0 Comments • Permalink

15 Aug 2011 00:26

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Politics: Warren Buffett: Tax me, please! Make me pay more money!

  • I know well many of the mega-rich and, by and large, they are very decent people. They love America and appreciate the opportunity this country has given them. Many have joined the Giving Pledge, promising to give most of their wealth to philanthropy. Most wouldn’t mind being told to pay more in taxes as well, particularly when so many of their fellow citizens are truly suffering.
  • Warren Buffett • Arguing in an editorial for the New York Times (titled, fittingly, “Stop coddling the super-rich”) that Congress needs to raise his taxes and those of people with incomes topping $1 million. “My friends and I have been coddled long enough by a billionaire-friendly Congress,” he writes. “It’s time for our government to get serious about shared sacrifice.” Wait … a super-rich guy offering more money up in taxes? Be still our hearts. And don’t tell the Koch brothers … they might disagree with this stance. source
Posted by Ernie Smith • 0 Comments • Permalink

30 Apr 2011 17:06

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Biz: Warren Buffett: Don’t not raise the debt ceiling, Congress

  • Protip: Trust a guy with a Presidential Medal of Freedom. During Berkshire Hathaway’s annual meeting in Omaha, the investor icon suggested that if Congress failed to raise the federal debt ceiling in the middle of May (as some completely uninformed RedState blogger suggested and Timothy Geithner pleaded against), it would be the “most asinine act” in the chamber’s history. And Congress has done a lot of stupid crap in their day. Perhaps we should listen to this highly-regarded rich guy! (photo by Medill DC‘s Flickr photostream) source
Posted by Ernie Smith • 0 Comments • Permalink

18 Oct 2010 20:46

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Biz: Warren Buffett: Berkshire Hathaway the “dumbest” stock I ever bought

  • For 20 years, I fought the textile business before I gave up. As instead of putting that money into the textile business originally, we just started out with the insurance company, Berkshire would be worth twice as much as it is now.
  • Warren Buffett • Explaining what the “dumbest” stock he ever bought was. Wait, what? Is he really claiming Berkshire Hathaway as his dumbest stock purchase ever? Yes, and the reason for that is that Berkshire was initially a textile firm, when in reality he should have started a new insurance business as his corporate shell. He initially bought out Berkshire partly to get rid of the former owner, whom he clashed with, which put him in a very strange spot. “I had now committed a major amount of money to a terrible business,” he notes. Buffett made most of his money off of insurance – specifically GEICO, which we bet you didn’t know he owned. The company handles other random stuff, including Ginsu knives and The Buffalo News, but one thing Berkshire no longer creates is textiles. The last legacy plant closed way back in 1985. source
Posted by Ernie Smith • 0 Comments • Permalink

03 Jul 2010 10:39

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Biz: Warren Buffett: The rich-guy gift that keeps on giving

  • $37B the amount he donated to the Gates Foundation in 2006, the biggest ever donation; he plans to give 99 percent of his wealth away
  • $1.93B the amount he donated this year – he does yearly donations based on Berkshire Hathaway’s overall performance source
Posted by Ernie Smith • 0 Comments • Permalink

05 Jan 2010 10:37

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Biz: Kraft wants Cadbury bad. Warren Buffett thinks it’s unhealthy.

  • Berkshire Hathaway owns 9.4% of Kraft’s stock, so they should take heed. Kraft has been in unhealthy pursuit of the candy company for months, and just sweetened the deal again to convince them to go for it. Buffett’s Berkshire Hathaway, however, warned Kraft they wouldn’t be voting for the purchase, calling it a “blank check” and saying Kraft’s stock is too valuable for a purchase like this. Too Velveeta-like in texture. source
Posted by Ernie Smith • 0 Comments • Permalink
 

04 Aug 2009 20:44

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Biz: Much like Bill Clinton, Warren Buffett is totally still a pimp

  • $1 billion profit for Berkshire Hathaway from a Chinese car maker source
Posted by Ernie Smith • 0 Comments • Permalink

26 Jun 2009 16:35

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Biz, Offbeat: Someone paid way too much money for lunch with Warren Buffett

  • $456,789 for an Old Money Buffet source
Posted by Ernie Smith • 0 Comments • Permalink

24 Jun 2009 22:52

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Biz, Tech: Warren Buffett thinks Steve Jobs shoulda said he was having surgery

  • If I have any serious illness, or something coming up of an important nature, an operation or anything like that, I think the thing to do is just tell – the Berkshire shareholders about it. I work for them.
  • Warren Buffett • On what he would’ve done if he was having the kind of surgery Steve Jobs did. Jobs needed a liver transplant and got one back in April. But the world didn’t know about it until just the other day. Not that Apple particularly missed him: Their stock is up 60% this year, most of which he’s been out on medical leave. • source
Posted by Ernie Smith • 0 Comments • Permalink
 
 
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