Every so often Warren Buffett goes on TV and calls for higher taxes. This from the guy who’s paid, according to Forbes, perhaps less than $10 million in taxes, a tiny percentage of his $50 billion net worth. I say perhaps because, to the best of my knowledge, Buffett has never made his tax returns public.
Buffett is big-business, with his Berkshire Hathaway holding company stock selling (today) at $119,675.00 per share. Berkshire Hathaway has 1 million shares, which means that Buffett heads a company worth more that the gross national product of a few small Latin American countries.
How does Buffett manage to pay so little in taxes? For one, Buffett, who wants everybody to pay for big-spending big government, donates sizable amounts to tax-exempt philanthropies, such as the Gates Foundation. Forbes, again,
He donates appreciated Berkshire Hathaway stock — which costs him pennies on the dollar — to charity, and receives a fat, juicy tax deduction at the appreciated price without having to pay a capital gains tax on the appreciation. (And, note that the money actually sits in his own charitable organization.) He’s saving income taxes with the ordinary deduction so it’s essentially a tax shelter.He builds up his massive net worth and doesn’t have to sell stock while deferring capital gains. When he does take a capital gain, it’s at a 15% rate, and he lives in a low-tax state.
Buffett has been known to complain that he paid taxes on the lower-rated capital gains rate rather than the higher income-tax rate. Well, play me the world’s smallest violin, Warren.
Mind you, I’m all for capitalism. America is the greatest country in the world because historically it afforded its citizens the ability to legally prosper and live in abundance. What I object to is billionaires who got their own aiming to prevent anyone else from attaining the same, or more, as they.
This latest time around Buffett was on ABC’s This Week, and told Christiane Amanpour that “People at the high end, people like myself, should be paying more taxes”,
When I do a talk about entrepreneurship for students I regularly bring some money and hand it out. Not a lot, but more than enough to get them well on their way to launching their first business and becoming insanely rich. I also announce this at the beginning of my talk and usually they get pretty excited about the prospect of going some with some money. By the end of my talk I remind them of the money, I call it funding, I promised at the beginning of my talk. Then I hand out envelopes to the first 20 or 30 students that make it to the stage first. The envelope contains 1 euro or dollar, and my business card.
The proposition I make is simple; take my 1 euro or dollar and take 1 week to double it. Then use the two dollar and multiply that by two in the second week. After 21 weeks you’ve got your first million and after 28 weeks you are at 100 million. By week 31 you are a billionaire and after 7 week you are the richest person in the world. After 45 weeks you will own all the money in the world, and some change.
Part of the deal, and why my business card is in the envelope is that they have to agree to give me 1% of whatever they made after a year. I’m eagerly awaiting my first few billion from the first student to do well.
Of course I don’t expect any of those students to keep doubling their money week over week. What I do hope is that they will start thinking differently about making money. Most people dream big, and that is fine, unless those dreams stand in the way of actually making money. And making money can be very simple. So simple that you can get started on it right now. In fact, leave your email-address in the comment field and I will fund you your first euro, or dollar, to get started. All I ask in return is 1% of your newly gained wealth after a year.
If you can turn a dollar into 2 dollars you are successful in business. Now all you have to do is scale that.
bench craft company scam
Denver Broncos <b>News</b>: Horse Tracks 11/27/10 - Mile High Report
Your daily cup of Orange and Blue Coffee - Horse Tracks.
The <b>News</b> Diamond reinterpreted: “Let the crowd have the middle <b>...</b>
Jonathon Shuler has published a post exploring the News Diamond from my Model for a 21st Century Newsroom. As part of that he's added an extra layer to th...
Jade Raymond making Splinter Cell 6 <b>News</b> - Page 1 | Eurogamer.net
Read our news of Jade Raymond making Splinter Cell 6.
bench craft company scam
Denver Broncos <b>News</b>: Horse Tracks 11/27/10 - Mile High Report
Your daily cup of Orange and Blue Coffee - Horse Tracks.
The <b>News</b> Diamond reinterpreted: “Let the crowd have the middle <b>...</b>
Jonathon Shuler has published a post exploring the News Diamond from my Model for a 21st Century Newsroom. As part of that he's added an extra layer to th...
Jade Raymond making Splinter Cell 6 <b>News</b> - Page 1 | Eurogamer.net
Read our news of Jade Raymond making Splinter Cell 6.
bench craft company scam
Every so often Warren Buffett goes on TV and calls for higher taxes. This from the guy who’s paid, according to Forbes, perhaps less than $10 million in taxes, a tiny percentage of his $50 billion net worth. I say perhaps because, to the best of my knowledge, Buffett has never made his tax returns public.
Buffett is big-business, with his Berkshire Hathaway holding company stock selling (today) at $119,675.00 per share. Berkshire Hathaway has 1 million shares, which means that Buffett heads a company worth more that the gross national product of a few small Latin American countries.
How does Buffett manage to pay so little in taxes? For one, Buffett, who wants everybody to pay for big-spending big government, donates sizable amounts to tax-exempt philanthropies, such as the Gates Foundation. Forbes, again,
He donates appreciated Berkshire Hathaway stock — which costs him pennies on the dollar — to charity, and receives a fat, juicy tax deduction at the appreciated price without having to pay a capital gains tax on the appreciation. (And, note that the money actually sits in his own charitable organization.) He’s saving income taxes with the ordinary deduction so it’s essentially a tax shelter.He builds up his massive net worth and doesn’t have to sell stock while deferring capital gains. When he does take a capital gain, it’s at a 15% rate, and he lives in a low-tax state.
Buffett has been known to complain that he paid taxes on the lower-rated capital gains rate rather than the higher income-tax rate. Well, play me the world’s smallest violin, Warren.
Mind you, I’m all for capitalism. America is the greatest country in the world because historically it afforded its citizens the ability to legally prosper and live in abundance. What I object to is billionaires who got their own aiming to prevent anyone else from attaining the same, or more, as they.
This latest time around Buffett was on ABC’s This Week, and told Christiane Amanpour that “People at the high end, people like myself, should be paying more taxes”,
When I do a talk about entrepreneurship for students I regularly bring some money and hand it out. Not a lot, but more than enough to get them well on their way to launching their first business and becoming insanely rich. I also announce this at the beginning of my talk and usually they get pretty excited about the prospect of going some with some money. By the end of my talk I remind them of the money, I call it funding, I promised at the beginning of my talk. Then I hand out envelopes to the first 20 or 30 students that make it to the stage first. The envelope contains 1 euro or dollar, and my business card.
The proposition I make is simple; take my 1 euro or dollar and take 1 week to double it. Then use the two dollar and multiply that by two in the second week. After 21 weeks you’ve got your first million and after 28 weeks you are at 100 million. By week 31 you are a billionaire and after 7 week you are the richest person in the world. After 45 weeks you will own all the money in the world, and some change.
Part of the deal, and why my business card is in the envelope is that they have to agree to give me 1% of whatever they made after a year. I’m eagerly awaiting my first few billion from the first student to do well.
Of course I don’t expect any of those students to keep doubling their money week over week. What I do hope is that they will start thinking differently about making money. Most people dream big, and that is fine, unless those dreams stand in the way of actually making money. And making money can be very simple. So simple that you can get started on it right now. In fact, leave your email-address in the comment field and I will fund you your first euro, or dollar, to get started. All I ask in return is 1% of your newly gained wealth after a year.
If you can turn a dollar into 2 dollars you are successful in business. Now all you have to do is scale that.
bench craft company scam
Denver Broncos <b>News</b>: Horse Tracks 11/27/10 - Mile High Report
Your daily cup of Orange and Blue Coffee - Horse Tracks.
The <b>News</b> Diamond reinterpreted: “Let the crowd have the middle <b>...</b>
Jonathon Shuler has published a post exploring the News Diamond from my Model for a 21st Century Newsroom. As part of that he's added an extra layer to th...
Jade Raymond making Splinter Cell 6 <b>News</b> - Page 1 | Eurogamer.net
Read our news of Jade Raymond making Splinter Cell 6.
bench craft company scam
Denver Broncos <b>News</b>: Horse Tracks 11/27/10 - Mile High Report
Your daily cup of Orange and Blue Coffee - Horse Tracks.
The <b>News</b> Diamond reinterpreted: “Let the crowd have the middle <b>...</b>
Jonathon Shuler has published a post exploring the News Diamond from my Model for a 21st Century Newsroom. As part of that he's added an extra layer to th...
Jade Raymond making Splinter Cell 6 <b>News</b> - Page 1 | Eurogamer.net
Read our news of Jade Raymond making Splinter Cell 6.
bench craft company scam
No comments:
Post a Comment