Warren Buffett sues over taxes he doesn’t want to pay. Seriously.

I miss the days when the 1% were the 1%. You know, when everyone was wearing monocles to operas about rich people wearing monocles to operas and people encrusted everything with diamonds and lesser human being and people wore furs with the heads still attached.

People enjoyed being rich. Not all this bullshit about not paying enough taxes and telling people you want to pay more and then having your real source of wealth, your company, secretly sue the Internal Revenue Service over your way-too-high tax bill.

NetJets, the private-aircraft company owned by Warren Buffett’s Berkshire Hathaway Inc. (BRK/A), sued the U.S. over excise taxes and penalties totaling $642.7 million assessed against the company.

The Internal Revenue Service improperly assessed the so- called ticket tax, an excise tax on payments made in exchange for air transportation, NetJets said in its complaint in federal court in Columbus, Ohio, dated Nov. 14.

NetJets seeks a refund and abatement of the ticket tax. The company claims in its suit that Congress intended the tax to apply to passengers who use commercial or charter aircraft owned by others.

That’s nice. I wonder why the IRS argument that all of this extra taxation will go to feed the starving and clothe the naked and hire more government bureaucrats and union workers isn’t compelling to Berkshire Hathaway? I mean, honestly, Warren Buffett said he’d like to pay a greater share. Why not pay a $642.7 million share right now? Is it perhaps because Berkshire Hathaway could do more with the money than a government agency with an endless budget and no oversight could? Could it be because NetJet doesn’t appreciate having it’s money pried from it’s cold, angry hands and re-purposed for the good of the nation?

Sad. Just plain sad.

  1. atease
  2. Jack Grogan
  3. sean
  4. Roberto

Leave a Reply