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Getbig Main Boards => Politics and Political Issues Board => Topic started by: Fury on December 12, 2012, 09:37:39 AM

Title: Buffett's Berkshire buys back shares to avoid tax increase. Too funny
Post by: Fury on December 12, 2012, 09:37:39 AM: Berkshire Seeks To Avoid 2013 Tax Hike, Buys Back BRK Shares

Define irony: when the most vocal supporter of a dramatic change to the existing tax policy takes advantage of the last few days of the old one...

BERKSHIRE HAS PURCHASED 9,200 OF CLASS A SHRS AT $131,000-SHR
BERKSHIRE RAISED PRICE LIMIT FOR BUYBACKS TO 120% BOOK VALUE
BERKSHIRE MAY BUY ADDED SHRS AT NO MORE THAN 120% BOOK VALUE
BERKSHIRE BOOSTS BUYBACK PRICE LIMIT TO 120% BOOK VALUE VS 110%]

A total $1.2 billion spent to avoid a few hundred million in new taxes. And now back to the hypocrticy of the "Buffett tax", and "Patriotic Millionaires for America." In other news, total donations to pay down the debt in Fiscal 2013 (starting October 1): $290,195.03.

Full release:

Omaha, NE (NYSE: BRK.A; BRK.B)—Berkshire Hathaway has purchased 9,200 of its Class A shares at $131,000 per share from the estate of a long-time shareholder. The Board of Directors authorized this purchase coincident with raising the price limit for repurchases to 120% of book value. Berkshire may purchase additional shares in the market or through direct offerings at no more than 120% of book value.

http://www.zerohedge.com/news/2012-12-12/berkshire-avoids-2013-tax-hike-buys-back-brk-shares

Too funny. Another leftist hypocrite.
Title: Re: Buffett's Berkshire buys back shares to avoid tax increase. Too funny
Post by: Soul Crusher on December 12, 2012, 09:43:37 AM: Buffet is a real piece of work
Title: Re: Buffett's Berkshire buys back shares to avoid tax increase. Too funny
Post by: littledumbells on December 12, 2012, 06:02:25 PM: Yea...but when its all said and done they are just playing by the rules the government set down.
Title: Re: Buffett's Berkshire buys back shares to avoid tax increase. Too funny
Post by: Straw Man on December 12, 2012, 06:14:02 PM: Quote from: littledumbells on December 12, 2012, 06:02:25 PM
Yea...but when its all said and done they are just playing by the rules the government set down.

yep and also doing what is best for their shareholders which is what they have to do regardless of the personal political views of the CEO
Title: Re: Buffett's Berkshire buys back shares to avoid tax increase. Too funny
Post by: tbombz on December 12, 2012, 06:15:50 PM: A sentiment in favor of helping the less fortunate is good. It would be better if it did not depend upon forcing everyone is to make the same sacrifice.
Title: Re: Buffett's Berkshire buys back shares to avoid tax increase. Too funny
Post by: tbombz on December 12, 2012, 06:16:15 PM: Else
Title: Re: Buffett's Berkshire buys back shares to avoid tax increase. Too funny
Post by: tonymctones on December 12, 2012, 06:29:44 PM: Quote from: Straw Man on December 12, 2012, 06:14:02 PM
yep and also doing what is best for their shareholders which is what they have to do regardless of the personal political views of the CEO
if only our govt worked this way...

if only we had a president who thought this way....