Warren Buffett says his company made billions from GOP tax reform

[DonViejo]

Source: The Hill



BY LUIS SANCHEZ - 02/24/18 12:44 PM EST

Warren Buffett said that the Republican tax law passed last year made his company billions of dollars.

“Berkshire’s gain in net worth during 2017 was $65.3 billion, which increased the per-share book value of both our Class A and Class B stock by 23 percent,” Buffett wrote in a letter to Berkshire Hathaway shareholders that accompanied the company’s annual report.

Nearly 45 percent of Berkshire's $65 billion gains in 2017 are attributed to the tax law, according to Buffett.

“A large portion of our gain did not come from anything we accomplished at Berkshire. The $65 billion gain is nonetheless real — rest assured of that. But only $36 billion came from Berkshire’s operations. The remaining $29 billion was delivered to us in December when Congress rewrote the U.S. Tax Code,” Buffett wrote.

Read more: http://thehill.com/policy/finance/375425-warren-buffett-says-his-company-made-billions-from-gop-tax-reform

[onecaliberal]

1. Thats awesome, I work 60 hours a week. I made nothing from it.

[quartz007]

2. booo.. top 10% made out like bandits

the rest of us get crumbs.

[lordsummerisle]

3. But...But

I saw Paul Ryan himself on CBS News say it was mostly for "the middle class"...

[dchill]

4. Can we write that in the little red book as Ryan's First Lie?

JK.

[SergeStorms]

10. First lie since lunch?

Ryan is desperately trying to equal Trump's lie count. There's no other explanation.

[dchill]

12. It's a Throwdown!

[Angry Dragon]

6. the middle class of the .1%

[Cha]

11. paul ryan LIES like a MF

[duforsure]

5. While Trump,Ryan, and McConnell

laugh how easily people were conned by them into believing their lies.

[Skittles]

9. were they?

I heard most people always thought it was mostly for rich folk

[They_Live]

7. and all the working class had to do

was lose every program and protection that we have taken generations to establish. Seems fair.

[GeorgeGist]

8. Tax law didn't take effect til 2018 ...

wish I had such 'clever' accountants.

[dameatball]

14. As much as I respect Buffet and detest Trump, I wonder about the math here also.

I guess these must be their projections for the year.....right???

[quartz007]

15. Duh...Buffet's stock holdings are up 38%

since Trump-Putin ticket won by a squeaker.

[FakeNoose]

13. I'm pretty sure Warren Buffet thinks Cheeto is a complete idiot

... but he'll take the free money anyway. He's got an extra $29 billion that should have gone to Uncle Sam. And there's more coming next year.

[EarthFirst]

16. Right on! More money for protester payroll!

Still waiting on mine; however I’m sure he’s good for it!

[Bengus81]

17. So Warren,use that $29 BILLION to form a Health care company for all,not just your employee's....

Sounds like a lot of "seed" money to get it rolling and provide a REAL Health insurance policy to the masses that is real coverage and affordable.

[Egnever]

18. Just for some perspective

That is 10 billion more than the entire NASA budget

or as much as the entire us justice department budget.

or almost 6 times the entire EPA budget.

or a third of our entire education budget.


All to one company...

[Red Mountain]

19. How much would Fox News cost?

Buy it and apply journalistic principles.

Probably do more to educate the masses than building 10,000 libraries.

Last time we had a concentration of wealth like we have today the rich invested in educating the masses.

Why not now?

[BadGimp]

20. I did some simple math on this...

assuming 140 (est) million taxpayers...

US Taxpayers 140,000,000
Berkshire Hathaway 2018 Tax Cut (29 Billion) $29,000,000,000
$ Avg per US Taxpayer $207

That's ONE company. Tell me again how the Tax Cuts were mostly to benefit working-class Americans.

Those Tax Cuts will cost us Bigly, again!