Elizabeth Warren wants to investigate Warren Buffett and other billionaires' tax practices

[turbinetree]

- and probe the banks and wealth managers behind them


Theron Mohamed
Jul. 15, 2021, 07:36 AM

Sen. Elizabeth Warren criticized Warren Buffett's tax practices in an open letter.

The senator wants an investigation into how banks and wealth managers enable tax avoidance.

ProPublica recently reported how Buffett and other billionaires minimize their tax bills.


https://markets.businessinsider.com/news/stocks/elizabeth-warren-buffett-taxes-propublica-senate-investigation-banks-wealth-managers-2021-7

[grumpyduck]

1. Good. She can start

with donnie.

[Budi]

3. Peter Thiel, Silicon Valley, or how bout EVERY NEW SUPER PAC.

Buffett ain't the problem

[Budi]

2. Omg. Buffett?

I can name a whole long list to investigate & Buffett's not even on it.

Wtf Liz.
This is a joke right?

"an investigation into how banks and wealth managers enable tax avoidance."

I'm betting Liz already knows how tax laws are written allowing them to minimize.
Maybe just write a bill to change it.

Geezus 🙄

[George II]

4. That's why we have an IRS. I believe Biden just increased their investigative budget quite a bit.

[spooky3]

7. There are two separate issues here. IRS is involved if someone is suspected

of not complying with the law. But if the problem is instead that the law has loopholes or perceived flaws that allow people *legally* to pay few taxes, that is a matter that only Congress can address.

[George II]

8. Then she wants to investigate people who ARE complying with the law?

[spooky3]

9. From the article, that's how it sounds to me. She's trying to figure out

how they were able to avoid paying much in tax, with an eye toward changing the law.

[spooky3]

10. This article seems a little clearer:

https://www.google.com/amp/s/www.propublica.org/article/democratic-senators-call-for-investigation-of-tax-avoidance-by-the-ultrawealthy/amp

[blm]

5. It's likely he WANTS to testify and doesn't mind the use of his name

as a draw on this issue.

Buffett, for years, has openly criticized the system’s low tax rate on the wealthiest.

[MichMan]

11. Has he volunteered to pay more than he owes?

[AllaN01Bear]

6. cant see the story because of my ad blocker.i get the ghist of the story.