A Quote by Charlie Munger

We don't have any miraculous way of avoiding taxes at Wesco and Berkshire.

Charlie Munger

Quote Topics

Any Avoiding Miraculous Taxes Way

Quote Author

Charlie Munger
American - Businessman
Born: January 1, 1924

Like the stocks of both Berkshire and Wesco to trade within hailing distance of what we think of as intrinsic value. When it runs up, we try to talk it down. That's not at all common in Corporate America, but that's the way we act.

Charlie Munger

We bought a doomed textile mill [Berkshire Hathaway] and a California S&L [Savings & Loan; Wesco] just before a calamity. Both were bought at a discount to liquidation value.

Charlie Munger

Wesco had a market capitalization of $40 million when we bought it [in the early 1970s]. It's $2 billion now. It's been a long slog to a perfectly respectable outcome - not as good as Berkshire Hathaway or Microsoft, but there's always someone in life who's done better.

Charlie Munger

Avoiding life, avoiding making any concrete plans for your life-that's just one way you're pretending you can keep bad things from happening to you again.

Susan Vaught

Between income taxes and employment taxes, capital gains taxes, estate taxes, corporate taxes, property taxes, Social Security taxes, we're being taxed to death.

Chuck Norris

The government taxes you when you bring home a paycheck. It taxes you when you make a phone call. It taxes you when you turn on a light. It taxes you when you sell a stock. It taxes you when you fill your car with gas. It taxes you when you ride a plane. It taxes you when you get married. Then it taxes you when you die. This is taxual insanity and it must end.

J. C. Watts

Berkshire has the lowest turnover of any major company in the U.S.The Walton family owns more of Wal-Mart than Buffett owns of Berkshire, so it isn't because of large holdings. It's because we have a really unusual shareholder body that thinks of itself as owners and not holders of little pieces of paper.

Charlie Munger

Let me respond with a few points, the first being that all immigrants pay taxes, income taxes, property taxes, sales taxes, gasoline taxes, cigarette taxes, every tax when they make a purchase.

Luis Gutierrez

Unless you reduce the long-term spending burden, you cannot cut taxes in any lasting way, but can only shift the burden of taxes from the present to the future.

Peter George Peterson

'Simplifying' the tax code is a priority mainly for people who make enough money to want to avoid paying taxes, and who make their money by means unorthodox enough to make avoiding taxes possible and desirable.

Alex Pareene

There is only one way to kill capitalism - by taxes, taxes, and more taxes.

Unknown

I go back to [the idea] that we are avoiding all of these unknowns, we're avoiding the night - most of us - we're avoiding the encounters, but we're also afraid to deal with something unknown, unseen.

Michal Rovner

At Berkshire, I both initiate and monitor every derivatives contract on our books ... If Berkshire ever gets in trouble, it will be my fault. It will not be because of the misjudgments made by a risk committee or chief risk officer.

Warren Buffett

We don't have an isolated group [of senior managers] surrounded by servants. Berkshire's headquarters is a tiny little suite. We just came back from Berkshire's board meeting; it had moved up to the board room of the Kiewit company and [it was so large and luxurious that] I felt uncomfortable.

Charlie Munger

I am in favor of cutting taxes under any circumstances and for any excuse, for any reason, whenever it's possible. ... because I believe the big problem is not taxes, the big problem is spending.