Yes, Uncle Warren, savior of Bank of America, poster-grandpa of tax hikes on the rich, has been less than forthcoming with back taxes owed to the IRS.
Billionaire Warren Buffett says folks like him should have to pay more taxes -- but it turns out his firm, Berkshire Hathaway, hasn’t paid what it’s already owed for years.
That’s right: As Americans for Limited Government President Bill Wilson notes, the company openly admits that it owes back taxes since as long ago as 2002.
“We anticipate that we will resolve all adjustments proposed by the US Internal Revenue Service (“IRS”) for the 2002 through 2004 tax years ... within the next 12 months,” the firm’s annual report says.
It also cites outstanding tax issues for 2005 through 2009.
Obvious question: If Buffett really thinks he and his “mega-rich friends” should pay higher taxes, why doesn’t his firm fork over what it already owes under current rates?