April 5, 2012, Fairfax, VA—Americans for Limited Government President Bill Wilson today issued the following statement responding to Berkshire Hathaway's annual report showing $928 million in "unrecognized tax benefits:"
"It is ironic that Warren Buffett continues to allow himself to be the front-man for Obama's call for higher taxes, when his own company, Berkshire Hathaway, has outstanding tax bills going back a decade of almost $1 billion. While Buffett has every right to dispute the IRS' tax charges, this makes him a particularly weak spokesperson for increasing taxes on others. If he sincerely felt that he was under-taxed, he could resolve this moral dilemma immediately by ordering his company to resolve its disputed tax debts."
The Senate is preparing to vote on a tax increase bill, coined the Buffett rule, on April 16. Under the Buffett rule everyone making more than $1 million will pay at least 30 percent of their income in taxes — whether it comes from income or investment.
To view online: http://getliberty.org/content.asp?pl=10&sl=5&contentid=868
"Buffett rule heads to the Senate; Let the tax season begin," by Rebekah Rast, April 5, 2012, at http://netrightdaily.com/2012/04/buffett-rule-heads-to-the-senate-let-the-tax-season-begin/
"Buffett's Billion-Dollar Tax Hypocrisy," by ALG President Bill Wilson, August 30, 2011, at http://netrightdaily.com/2011/08/buffetts-billion-dollar-tax-hypocrisy/
"Warren Buffett's taxing hypocrisy," by ALG President Bill Wilson, August 24, 2011, at http://netrightdaily.com/2011/08/warren-buffett%E2%80%99s-taxing-hypocrisy/
Americans for Limited Government is a non-partisan, nationwide network committed to advancing free market reforms, private property rights and core American liberties. For more information on ALG please call us at 703-383-0880 or visit our website at www.GetLiberty.org.