Maybe President Obama should pick his Tax Examples a bit better. Before we have a Buffett Tax, Buffett should pay the taxes he owes now. He is a Corporate Jet company owner.
NetJets in November sued the U.S., saying the federal government had wrongly imposed taxes, interest and penalties totaling more than $642.7 million.
Claiming the federal Internal Revenue Service wrongfully assessed a so-called ticket tax — an excise tax on payments made in exchange for air transportation — to private aircraft owners maintaining their own planes, the Columbus, Ohio-based company demanded refunds and abatements.
The federal government, in a revised answer and countersuit filed yesterday in federal court in Columbus, rejected NetJets’ claims and alleged that four of the company’s units owe unpaid taxes and penalties.
- U.S. countersues Buffett’s company for unpaid taxes (business.financialpost.com)
- Friday Humor And Headline Of The Week (zerohedge.com)
- Yes, Buffet is a Hypocrite: Time to Move On, Folks (thestreet.com)