A Quote by Warren Buffett
I prefer liquor store robbers with hungry kids to companies that locate offshore to avoid U.S. taxes.
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On the whole, I prefer not to be lectured on patriotism by those who keep offshore maildrops in order to avoid paying their taxes.
So that makes us robbers of robbers," said Bug, "who pretend to be robbers working for a robber of other robbers.
The rich people are apparently leaving America. They're giving up their citizenship. These great lovers of America who made their money in this country-when you ask them to pay their fair share of taxes they run abroad. We have 19-year old kids who lost their lives in Iraq and Afghanistan defending this country. They went abroad. Not to escape taxes. They're working class kids who died in wars and now billionaires want to run abroad to avoid paying their fair share of taxes. What patriotism! What love of country!
A growth strategy requires tax rates that people are prepared to pay and cannot avoid or do not wish to avoid by going offshore or leaving the country.
Cheap labor is a small part of the problem at work here. If it were only cheap labor, America would be in trouble. Because it's other things, too, we have a great chance to turn it around. Here's the problem: Our high corporate tax rate pushes our companies offshore. Our high regulatory burden pushes our companies offshore.
Multinational companies exploit national differences to abuse their workers, to dodge their taxes and to 'regulation shop' as a means to avoid meeting their responsibilities.
We are one of only two FTSE 100 companies which do not use offshore or other tax avoidance arrangements. In fact, we are probably one of the highest taxpaying companies in the index.
Marijuana is not much more difficult to obtain than beer. The reason for this is that a liquor store selling beer to a minor stands to lose its liquor license. Marijuana salesmen don't have expensive overheads, and so are not easily punished.
There is nothing inevitable about this secret offshore world. It is not a fact of nature: Our laws created tax havens, and our laws can also end them. We could forbid Goldman Sachs from owning opaque offshore vehicles. We could prevent companies such as Cadre from accepting anonymous investments.
Housing Works is the coolest thrift store in the world, because not only are they the best thrift store - they're not the most thrifty thrift store - but they have amazing stuff and all of their proceeds go directly to kids, mostly homeless kids, living with AIDS and HIV in New York, in the metropolitan area.
Shell companies can be owned by other shell companies; opaque offshore vehicles are carefully designed so that regulators can't identify who is using them; with the right accountants, they can be set up quickly and easily.
Between income taxes and employment taxes, capital gains taxes, estate taxes, corporate taxes, property taxes, Social Security taxes, we're being taxed to death.
I'm careful to pay every single penny on my taxes. I don't have any money offshore.
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.
Nobody likes taxes. I would prefer that none of us had to pay taxes, including myself.
Twenty five years in business, including business with other nations, competing with companies across the world, has given me an understanding of what it is that makes America a good place to grow and add jobs, and why jobs leave America - why businesses decide to locate here, and why they decide to locate somewhere else.
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