Image via Wikipedia
Warren Buffett of Berkshire Hathaway (NYSE:BRK.A) does the oped thing with the New York Times (NYSE:NYT) and declares that he has been coddled. Up to now I thought he was smarter than the average bear. Way smarter. The marketplace guesstimates he is worth some $47 billion give or take. I think Warren rounds some numbers himself.
He will be giving away his fortune to the Bill and Melinda Gates Foundation so that the money may be recycled into good causes. The charitable donation is a huge tax deduction. The ultimate in tax sheltering. Uncle Sam takes it on the chin.
Oh well $47 billion that’s just a drop in the federal bucket that no one will notice. But Warren if you wanted to shake up the system instead of just pay taxes why not donate the money to the US Social Security System. It would force the government to consider wealth creating assets instead of just getting stuffed with phony baloney government bonds. Big lawsuit. Big controversy and maybe the big change that America really needs.
Disclosure: George Gutowski writes from a caveat emptor perspective. I do not own stocks mentioned in this post. I have no plans to initiate new positions within the next 72 hours. I really think Warren Buffett should redo his will and put his money where his mouth is.
Related articles
- Warren Buffett: Raise My Taxes, Please (newser.com)
- Warren Buffett calls for more taxes on ‘mega-rich’ (ctv.ca)
- Buffett to Congress: Don’t ‘coddle’ me (politicalticker.blogs.cnn.com)
- Warren Buffett: Tax Me More! (outsidethebeltway.com)
- Warren Buffett, The Super-Rich, and Ralph Nader (wilderside.wordpress.com)
- Warren Buffett buying in down market (theglobeandmail.com)
FinancialSkeptic's Blog 