Warren Buffett Takes a Burlesque Approach to Releasing Tax Return Info

Posted on October 12, 2011 by Caleb Newquist

The Oracle of O proves to be a master tease artist:

In a letter to Republican Rep. Tim Huelskamp Tuesday, Buffett revealed that his adjusted gross income last year was $62,855,038 and that his taxable income was $39,814,784.

Buffett said he paid $15,300 in payroll taxes. Buffett also said his federal income tax bill came to $6,923,494, or 17.4% of his taxable income — two points he revealed in a New York Times op-ed in August urging Congress to tax the wealthy more.

In another act of twirling his pasties, WB repeated his challenge to all his fellow “ultra-rich” peers to whip out their tax returns. Not sure if the OWS gang has jumped on this band wagon yet but it’s worth putting out there.

Buffett made $62,855,038 last year [CNN via Felix Salmon]

Taxes Are the Reason Eric Cantor Walked Out on Joe Biden

Caleb Newquist
June 24, 2011

The deficit talks led by Vice President Biden faced a dispute over whether to include the Pentagon in any spending caps or deficit triggers, but the office of House Majority Leader Eric Cantor (R-Va.) said Friday that taxes were the only reason the talks collapsed Thursday.

“There were some disagreements on defense, but the issue is being greatly overblown to distract from Democrats’ push to raise taxes,” spokesman Brad Dayspring said. “The tax issue was the sole reason the talks reached an impasse, but it’s important to recognize that the group made great progress in identifying trillions of dollars in spending cuts that can serve as a blueprint for a potential compromise,” he said. [The Hill]

Rahm Emanuel Was a Little Late Paying His F—ing Property Taxes

Caleb Newquist
June 5, 2010

And by a little late, we mean three months. Rahm found out the news from WBBM radio in Chicago let him know about it. So a slight embarrassment that was likely met with a response of “well, f*ck me,” “get the f*ck out of here” or simply, “F*ck.”

But the worst thing that Rahm Emanuel will endure for forgetting to pay his property taxes isn’t the questions from the media, it isn’t the $445.56 penalty that he and his wife incurred on the balance of $7,400, it’s that he just gave material to Glenn Beck for the rest of his time as the Chief of Staff.

Since delinquent taxpayers in the Obama Administration has been a favorite target of Beck but since he had his own tax troubles maybe he’ll just let this blow over.

Then again, GB could spin this into the jobs report that came out today which in turn encouraged a nice little drop in the markets which parlays into a Deepwater Horizon connection and pretty soon someone will be calling for someone else’s resignation.