Opinion

Buffett’s buffet of wealth: plenty left for taxes

The Issue: Warren Buffett’s call for the rich to pay more taxes and his firm’s outstanding tax liability.

Your editorial on Warren Buffett’s hypocrisy couldn’t be more on point (“Warren Buffett, Hypocrite,” Aug. 29).

Buffett is running around, demanding that his taxes — and everyone else’s — be raised.

Yet nothing stops him from sending a check to the government representing the amount of money he thinks he ought to pay.

Moreover, as your editorial points out, Buffett’s money doesn’t really come in the form of ordinary income that would be subject to the increased rates he supports.

The way to ensure that Buffett participates in President Obama’s “shared sacrifice” is to institute a wealth tax.

Let’s tax “millionaires and billionaires” on the amount their wealth increases year to year.

If we do, I bet New Yorkers will be able to hear Buffett complaining all the way from Omaha.

Matt Harrington

Manhattan

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Isn’t it ironic how Buffett states that folks like him should pay more taxes yet, at the same time, his firm, Berkshire Hathaway, hasn’t paid what it owes the IRS?

Buffett is so rich that over a week ago he casually made a decision to invest $5 billion into the Bank of America.

But what about his taxes? Pay up, or shut up.

Ricardo Cummings

Brooklyn

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Instead of showering us know-nothing, middle-class creatures with their brilliant ideas, why don’t more American success stories step up to the plate and pay more taxes?

A good start would be Sen. John Kerry. His mother is a Forbes, and his wife is an heir, by marriage, to the Heinz dynasty.

A large tax donation would be just a drop in his bucket of wealth.

Nancy Boyman

Boca Raton, Fla.

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Subsequent to a private phone conversation with Obama, Buffett invested $5 billion in the Bank of America.

In one day, the profit was $1.3 billion.

Obama needs to tax billionaires and start by confiscating Buffett’s billions.

Jack Hughes

Chicago

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Do you ever wonder why billionaires like Buffett call for the rich to pay more taxes? It’s probably because they don’t pay their own taxes.

Like The Post notes, most of Buffett’s income is derived from dividends, which are taxed at a low rates.

When you’re making billions and rubbing elbows with the guy in charge, who cares about the $200,000 millionaire? Let him pay.

Michael Sara

Matawan, NJ

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Why the mystery about Buffett’s call for higher income and estate taxes?

Much of Berkshire Hathaway is about tax-sheltering and estate-planning.

Higher taxes could result in more government employees and more clients for tax shelters and tax-avoiding estate management.

Buffett, as usual, is merely taking care of business.

William Huber

Manhattan

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Buffett used to be a Republican, but since he turned into a liberal Democrat, he’s made a bundle in the stock market.

Could it be that Buffett discovered that all of the easy money to be made is from the taxpayer through liberal social programs connected to companies in the stock market?

Dan Galvin

Congers

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Yes, Buffett is a hypocrite, but aren’t most rich men and women?

And, when it comes to wealth, aren’t we all a bit hypocritical? How many of us seek wealth but condemn those that have it?

Think back to Panic of 1907. JP Morgan, in a sense, bailed out the nation, but was the nation grateful?

Far from it — the public wanted Morgan pulled down to size.

Last week, people were trying to break the Bank of America by selling short, but the man from Omaha saved the day.

While Buffett helped Obama in doing so, he might have also saved us all from bread lines.

Gary Schwartz

Fort Lee, NJ