Warren Buffett turns his back on tax-happy Democrats

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Aug 27, 2014 No Comments ›› admin

LOGIC MINUTE
by Lynn Woolley

In an amazing turnaround, Warren Buffett now thinks his companies are paying too much in taxes.

Warren Buffett

Warren Buffett

Buffett’s Berkshire Hathaway is investing $3 billion in the deal that will send Burger King’s headquarters to Canada to avoid confiscatory taxes here in the United States. But Buffett has always been good at avoiding taxes for his companies while standing alongside Obama and calling for higher taxes for the rest of us. This Burger King deal is a case in point. Why should Burger King stay in the U.S. and pay taxes on overseas profits? No smart company would – no smart country would impose the taxes and watch businesses move to a tax friendly country. The biggest part of this story is that the Democrats no longer have their tax-hike guru standing beside them. That makes it much harder for them to paint corporations as “Benedict Arnolds” as they had planned.

Video: Warren Buffett says his secretary’s tax rate is higher than his own.

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