Warren Buffett says rich guys like him should pay MORE taxes. He claims those guys with the corporate jets are not paying nearly enough !
Old Warren OWNS a private aircraft company which features corporate jets and the IRS says Buffett owes more than $600,000,000 in taxes from this entity. One may think, "here's his chance to ante up more tax money". Oh NO, Warren has decided to sue to avoid paying these taxes...
Can anyone think of a proper word to describe old Buffy's actions here ?
Buffett’s NetJets Sues U.S. Over $642.7 Million Ticket-Tax Assessment QBy Don Jeffrey - Nov 17, 2011 10:16 AM ET
NetJets, the private-aircraft company owned by
Warren Buffett’s
Berkshire Hathaway Inc. (BRK/A), sued the U.S. over excise taxes and penalties totaling $642.7 million assessed against the company.
The
Internal Revenue Service improperly assessed the so- called ticket tax, an excise tax on payments made in exchange for air transportation, NetJets said in its complaint in federal court in Columbus,
Ohio, dated Nov. 14.
NetJets seeks a refund and abatement of the ticket tax. The company claims in its suit that Congress intended the tax to apply to passengers who use commercial or charter aircraft owned by others.
“The ticket tax was not intended to apply to private aircraft owners and the fees they pay to maintain and operate their aircraft,” NetJets said in the complaint.
NetJets also claimed that the IRS didn’t provide any guidance about the types of fees for which the company would have to collect the ticket tax from passengers.
