To: Warren Buffett, Berkshire Hathaway CEO
Warren Buffett: Stop Financing Deals that Hurt America
Warren Buffett is financing the Burger King corporate inversion, which will let the company and its owners dodge up to $1.2 billion in taxes over four years.
Mr. Buffett is in a position to carefully choose what deals to get involved with. He SHOULD NOT be financing deals that allow corporations to desert America and dodge paying their fair share of taxes.
Mr. Buffett is in a position to carefully choose what deals to get involved with. He SHOULD NOT be financing deals that allow corporations to desert America and dodge paying their fair share of taxes.
Why is this important?
Burger King and its top shareholders will dodge up to $1.2 billion in U.S. taxes over four years as a result of this accounting sleight of hand. President Obama has condemned tax inversion deals, calling them “unpatriotic” because big corporations stick Americans with the tab for not paying their fair share of taxes. Inversions are legal, but unquestionably unfair.
While this scheme hurts American taxpayers, it is hugely profitable for the people making it possible. Buffet is financing the inversion through his firm, Berkshire Hathaway, for a whopping 9% return on his investment.
Mister Buffett, please support a fair tax system, where corporations and the wealthy pay their fair share of taxes, and avoid deals that make the rest of us pick up their tab.
While this scheme hurts American taxpayers, it is hugely profitable for the people making it possible. Buffet is financing the inversion through his firm, Berkshire Hathaway, for a whopping 9% return on his investment.
Mister Buffett, please support a fair tax system, where corporations and the wealthy pay their fair share of taxes, and avoid deals that make the rest of us pick up their tab.