Warren Buffett’s Annual Letter Says Berkshire Hathaway Received $29 Billion From New GOP-Trump Tax Code
BUFFET FOR AGAINST IT, BEFORE HE WAS FOR IT …
Warren Buffett, Chairman and CEO of Berkshire Hathaway, stated in his annual letter to Berkshire Hathaway investors that Berkshire Hathaway (BRKB) made a $65.3 billion net gain in 2017, but only $36 billion came from Berkshire’s operations and his brilliance. The other $29 billion came from the Republican-Trump tax cuts. Namely, the reduction in corporate tax rates. Imagine that 55.4% of Berkshire’s net gains came from Buffet’s efforts while 44.6% came from Trump and the Republicans. This from the man who backed Hillary Clinton and condemned the Trump policies on taxes. Oops, looks like the so-called Wizard of Omaha got that one 100% wrong. Every right thinking person without a political bias knew Trump was going to be good for the economy. Even the likes of Warren Buffet were wrong and tainted by their liberal bias.
It would appear that Donald Trump trumped Buffett.
Buffett told investors that Berkshire Hathaway (BRKB)made a $65.3 billion net gain in 2017 — but “only $36 billion came from Berkshire’s operations.”
The rest was a gift from the new U.S. tax code.
“A large portion of our gain did not come from anything we accomplished at Berkshire,” he wrote, adding that about $29 billion of that $65.3 billion gain came from changes to the tax law.
Buffett went on to extol Berkshire’s investing methods. Careful decisions and an aversion to debt and speculation has gotten the firm this far — and that’s the course it’ll stay on, he said.
But remember when Warren Buffet was against the Trump Tax plan? I am certain the Berkshire Hathaway investors are glad Trump went against the wishes of the individual they put all their trust in with their investments. I wonder who the investors of Berkshire Hathaway feel that the individual in charge of their investments cared more about politics than he did his fiduciary responsibility to their monies?
President Donald Trump’s tax reform plan came under new criticism on Tuesday from two towering Wall Street figures, including billionaire investor Warren Buffett, who called into question a Republican drive to slash the U.S. corporate rate.
With the White House and top Republicans in Congress already on the defensive over claims the plan would not cut taxes for many middle-class Americans, Buffett and BlackRock Chief Executive Larry Fink suggested in separate interviews that the corporate rate may not have to be cut as deeply as proposed.
“We have a lot of businesses… I don’t think any of them are non-competitive in the world because of the corporate tax rate,” Buffett, thechairmanand CEO of Berkshire Hathaway, told CNBC.
Democrat House Minority Leader Nancy Pelosi Heckled At Town Hall While Criticizing GOP Tax Reform: “How Much Are You Worth Nancy?” (VIDEO)
NANCY PELOSI, THE GIFT THAT KEEPS ON GIVING AND THE FACE OF LIBERAL DEMOCRAT HYPOCRISY …
Nancy Pelosi lectures us about superfluous inordinate wealth as she is one of the people who has a superfluous inordinate amount of wealth … While playing the class warfare card at a town hall meeting and criticizing the widely popular GOP-Trump Tax reform cuts, House Minority Leader Nancy Pelosi was called out for her hypocrisy. Nancy Pelosi quoted Martin Luther King Jr. who said, “God never intended for one group of people to live in superfluous inordinate wealth, while others live in abject deadening poverty.” As Pelosi continued to spew her lies and misrepresented the Trump Tax cuts an individual from the audience asked her, “How much are you worth Nancy?”Pelosi’s response, “Oh we are not talking about that.” So those facts are off limits. Pelosi is quick to point the finger but does not like it when she has to explain herself. That would be a hypocrite.
The truth of the matter is that Pelosi is woth millions. From Zero Hedge comes the following, the 77-year-old Pelosi is estimated to have a net worth of $100,643,521 according to OpenSecrets.org, making her the 6th richest member of the House in 2015. Hmm, I wonder if having a net worth over $100 million qualifies for “superfluous inordinate wealth?”
Would you like more liberal hypocrisy and double standards from Nancy Pelosi and the individual you would make House Speaker if Americans were foolish enough to vote for Democrats in 2018 House races and swing power from the GOP to Democrats? Pelosi has done nothing but claim the Republican-Trump tax cuts do nothing but provide benefits to the rich. Which is a lie, please see your payroll checks after Feb. 15th and witness the all too numerous to mention U.S. companies that provided their employees 401K additions, bonuses and pay raises.
However, the hypocrisy was never more evident than Nancy Pelosi wanting to pay as little tax as possible, even though she claims the rich don’t pay enough. This is the height of hypocrisy, elitism and the let them eat cakse attitude that the LEFT has for the rest of Americans. The folks that Pelosi refers to as crumb eaters. While Pelosi has spent her entire career demanding higher taxes for the rest of us and denouncing income inequality, recently Pelosi engaged in a series of tax schemes to avoid paying as much tax as possible on her properties.
From the Washington Free Beacon comes the following report:
Pelosi Tries to Extend $137,000 Tax Break for Two of Her Multi-Million-Dollar Homes.
Congress’s wealthiest woman plays the tax game too: Pelosi rushed to pre-pay property taxes after decrying GOP tax overhaul as middle-class tax hike and corporate giveaway
House Minority Leader Nancy Pelosi (D., Calif.), who often rails against income inequality and calls on the wealthy to pay its “fair share” in taxes, took pains in late December to try to preserve tax breaks for two of her multi-million-dollar homes one last time before the new tax law kicked in.
Largely thanks to her husband Paul, a real-estate and venture-capital investor, Pelosi is the wealthiest woman in Congress with a net worth of more than $100 million and the seventh wealthiest member overall, according to the Center for Responsive Politics.
Just days after President Trump signed the sweeping tax bill into law late last month, Pelosi and her husband tried to preserve $64,000 in property tax breaks, known as the state and local taxes (SALT) deductions, for her two California homes. The new tax law limits the deduction to $10,000 and went into effect Jan. 1.
A note to America and the LEFT, according to Pelosi’s assets and cash disclosed in her 2016 financial-disclosure statement places Pelosi in the top one-tenth of the 1 percent of Americans. She is the 1 Percent that she rails against.
IT WOULD APPEAR THAT AMERICANS ARE LIKING THEIR CRUMBS …
According to a recent New York Times/Survey Monkey poll, 51% of Americans now approve of the Trump/GOP tax cut law. That is up from 46 percent in January and 37 percent in December. The lower approval ratings occurred prior to the law being passed and the misinformation spread by the liberal MSM and Democrats. Since the passage of the tax cut law, over 3 million Americans have received bonuses from their companies since the passage of the Trump/GOP tax cuts. Also, all Americans will see if their payroll checks have increased as companies were to adjust the tax tables by February 15, 2018. Look for the support of these tax cuts to continue to increase as Americans come to realize they did receive benefits and that Democrats lied to them. Also, keep in mind that not one Democrat in either the House or the Senate voted for Americans to keep more of their money.
The tax overhaul that President Trump signed into law now has more supporters than opponents, buoying Republican hopes for this year’s congressional elections.
The growing public support for the law coincides with an eroding Democratic lead when voters are asked which party they would like to see control Congress. And it follows an aggressive effort by Republicans, backed by millions of dollars of advertising from conservative groups, to persuade voters of the law’s benefits.
That campaign has rallied support from Republicans, in particular. But in contrast with many other issues — including Mr. Trump’s job approval rating — it also appears to be winning over some Democrats. Support for the law remains low among Democrats, but it has doubled over the past two months and is twice as strong as their approval of Mr. Trump today.
Over all, 51 percent of Americans approve of the tax law, while 46 percent disapprove, according to a poll for The New York Times conducted between Feb. 5 and Feb. 11 by SurveyMonkey. Approval has risen from 46 percent in January and 37 percent in December, when the law was passed.
Other recent polls have shown the same upswings for the law by the Americans people, including a Monmouth University Poll in late January that found support for it had risen to 44 percent nationally, from 26 percent in December. The Democrats are going to have a lot of explaining to do in the 2018 midterm elections.
WOW, EVEN THE MOST LIBERAL OF CORPORATIONS ADMIT THE BENEFITS OF THE TRUMP TAX CUTS!!!
Via CNBC comes this amazing admission from one of America’s most liberal corporations; Starbucks will raise their employee’s pay and benefits in 2018 thanks to the PRESIDENT TRUMP-GOP tax cuts. That is correct, Starbucks actually stated so. I guess President Trump is “making Starbucks Great Again” too. A note to all of the Starbucks liberal employees and baristas, it was Trump, yes, that man you so love to hate that made it happen. It was also the work of the Republicans in the House and Senate who provided this for you as well. Not one Democrat voted for the tax plan that allowed you to keep more of your own money and by reducing the corporate tax rate, allowed for your employer to pass the benefits to you. You might want to remember that in the 2018 midterms and 2020 elections.
Starbucks will use some of the savings from the new U.S. corporate tax cuts to give domestic employees pay raises, company stock and expanded benefits with a combined worth of more than $250 million, the company said on Wednesday.
With the announcement, the world’s biggest coffee chain joins companies like Walmart, Apple, Comcast, and American Airlines in sharing their tax savings with employees.
Starbucks is known for giving its workers, which it calls “partners,” more generous pay and benefits than other mass-market restaurants and retailers.
“Investing in our partners has long been our strategy, and due to the recent changes in U.S. tax law, we are able to accelerate some significant partner investments,” Chief Executive Kevin Johnson said in a letter to employees.
Seattle-based Starbucks said it will give hourly and salaried employees, who received pay raises in January, a second wage increase in April.
It is giving additional stock grants to eligible employees on April 16. Coffee shop workers will receive a grant of at least $500 and store managers will receive $2,000 grants.
TRY AS THEY MIGHT, THE LEFT, DEMOCRATS AND THE BIAS MSM WILL NOT BE ABLE TO COMBAT THAT 90% OF AMERICANS WILL GET A TAX CUT IN 2018 …
As reported at CBS News – Boston, next month American workers will see the beginnings of the Trump-GOP tax cut in their paychecks. All Americans, whether you be Republican, Democrat, Conservative, Liberal, Libertarian or somewhere in-between will benefit from this. Whether you are black, white, Hispanic, Asian or whatever, you will benefit from these tax cuts where not one Democrat House Representative or Senator voted for. Unreal, the once Democrat party of the blue color worker now votes against the American worker. The LEFT, Democrats and the liberal media can say and write all of the negative stories they want, the fact of the matter is that an overwhelming majority of Americans will see a benefit from this courtesy of President Trump and the GOP.
The U.S. Treasury and the IRS on Thursday put out new guidance and withholding tables for employers that incorporate changes from the new tax law.
Under those new tables, the Treasury estimates that 90% of people who get a paycheck are likely to see more in take-home pay, as soon as February. Employers will have until Feb. 15 to incorporate the changes in their payroll systems.
But for many taxpayers, they will need to assess whether the new tables really are withholding enough money so that they’re not saddled with a big bill when they file their taxes next year.
The major changes affecting individuals include new tax brackets, (mostly) lower income tax rates, a near-doubling of the standard deduction and the elimination of both personal exemptions as well as many itemized deductions.
The new tables are designed not only to best approximate the change in workers’ tax liability under the new law, but to do so in a way that “delivers benefits as soon as possible to as many people as possible with as little disruption as possible,” a senior Treasury official told reporters.
The IRS is not issuing new Form W-4s … yet. “We’ve constructed the tables so that most people should be accurately withheld if they leave their W-4 in place,” a senior IRS official noted.
Let’s see how the Democrats and their MSM propaganda machine spin this ahead of the 2018 midterm elections. What is their slogan, Vote for Democrats, because your money is our money! Good luck to those Democrats in Trump states explaining this one.