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Buffett
Posted: Mar 9, 2012
Wow, how ironic is this? ROFL
http://www.bloomberg.com/news/2012-03-09/buffett-s-netjets-is-countersued-by-u-s-over-unpaid-taxes.html
Buffett’s NetJets Countersued by for Unpaid Taxes
NetJets Inc., the private-plane company owned by Warren Buffett’s Berkshire Hathaway Inc. (BRK/B), was countersued by the U.S. over $366 million in taxes and penalties.
NetJets in November sued the U.S., saying the federal government had wrongly imposed taxes, interest and penalties totaling more than $642.7 million.
Claiming the federal Internal Revenue Service wrongfully assessed a so-called ticket tax -- an excise tax on payments made in exchange for air transportation -- to private aircraft owners maintaining their own planes, the Columbus, Ohio-based company demanded refunds and abatements.
The federal government, in a revised answer and countersuit filed yesterday in federal court in Columbus, rejected NetJets’ claims and alleged that four of the company’s units owe unpaid taxes and penalties.
NetJets Aviation Inc. owes more than $302.1 million, and another unit, NetJets International, is liable for $52.9 million, the U.S. said. Executive Jet Management Inc. owes $10 million while NetJets Large Aircraft owes $1.19 million, the U.S. claimed.
NetJets had no immediate comment on the countersuit.
The case is NetJets Large Aircraft Inc. v. U.S., 11-cv- 01023, U.S. District Court, Southern District of Ohio (Columbus).
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Buffett - Conservative
[ In Reply To ..]Another flaming hypocrite. He is always running around talking about how he wants to pay more taxes (this is the second run-in with the IRS that I know about in the last 2 years). Why not put his money where his mouth is and just shut up already?
I would say a hypocrite is someone - sm
[ In Reply To ..]who would deny someone their right to make an their argument in the courts. When I think of the two people I know who have been tax evaders and went to jail, both were Republicans. When I think of the biggest complainers who do not want to pay their fair share, they are always Republicans. I wonder if there are any statistics on this?
hypocrite - sm
[ In Reply To ..]When I think of people who don't pay their taxes, evading taxes, doing everything to get out of paying taxes the Democrats come to mind. Not paying their fair share the first one I think of is Kerry, but many other democrats are guilty. Not paying taxes is not a republican thing. Its a rich person thing. That's why they are rich. They don't pay their fair share of taxes.
Agree and disagree - sm
[ In Reply To ..]Yes, the Republicans that I personally know who have cheated/tried to cheat were either rich or rich wannabes. On the other hand, I live on a State line and some things are cheaper in one state or the other. It is just being a wise shopper to buy an item where you can get the best buy. It is legal, not breaking a law.
That's not what I meant - sm
[ In Reply To ..]We too live in a state where people will go to the next state to get thing cheaper. No, it's not breaking the law. That's not what I was talking about. I was talking about the rich elites. The democrats and republicans (like Kerry, Buffet, etc) who find loopholes and do everything they can so they don't have to pay their fair share. There are republicans AND there are democrats who do this. Tax evasion is not a republican or democrat issues. Uber rich elites in all parties are doing it. I guess greed is not enough, they are the uber greedy who don't pay their fair share.
I'm a liberal and agree with you 100%. - sm
[ In Reply To ..]It IS a rich person thing, and both parties are equally guilty.
Exactly my first reaction. - Nice job. nm
[ In Reply To ..]nm
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