One of Warren Buffett's Berkshire Hathaway holdings, NetJets (a private aircraft company), is being countersued by the U.S. government for at least $302 million in taxes and penalties, Bloomberg reports.
This story is bound to attract some attention, since Warren Buffett has been so outspoken about every American paying their fair share of taxes. And it's a really hot headline to be sure — but there's a little more to the story.
"More Jimmy Lings will appear." This is Warren Buffett's warning from his 50th letter to Berkshire Hathaway shareholders that investors who hang too closely on the word or vision — but not results — of any one executive may find the... Read Post
By Jonathan Stempel NEW YORK (Reuters) - NetJets Inc, the private jet-sharing company owned by Warren Buffett's Berkshire Hathaway Inc, has defeated a U.S. Internal Revenue Service lawsuit attempting to recoup more than $500 million... Read Post
The 99% love Warren Buffett because he thinks rich people should pay more taxes. Meanwhile, Buffett owns a private jet company, which is suing IRS. Specifically, NetJets, a subsidiary of Berkshire Hathaway is suing the government fo... Read Post