Warren Buffett advertises record payments Berksshire, calls the Government to spend wisely
President and CEO of Berksshire Hathaway Warren Buffett On Saturday, it published its annual letter, which posted a record payment tax on a record company last year and invited the Federal Government to spend the money wisely.
Buffett recalled that when he first bought Berksshire Hathaway 60 years ago, his longtime business partner Charlie Munger warned him that what was a great textile job then “headed for extinction”, as indicated by the inability to generate profit and payment of taxes at the time.
“The American Treasury, all places, has already received quiet warnings about Berksshire’s fate,” he wrote. “1965. The company did not pay the number of income taxes, a shame that mostly prevailed in a company for a decade. Such economic behavior can be understood for glamorous startups, but it is a blinking yellow light when it happens on the Honorable Pillar of the US industry. Berksshire headed for the ash bucket. “
“Fast forward 60 years and imagine a surprise in the treasury when that same company – still acts under the name Berksshire Hathaway – paid far More in profit tax than the US government had ever received from any company – even US technological titans who ordered market values in trillion“Buffett wrote.
Annual Letter to Warren Buffett to shareholders Berksshire Hathaway: Read HERE
“To be precise, Berksshire made four last year IRS payments This was $ 26.8 billion. This is approximately 5% of what all corporate America paid. (In addition, we paid considerable amounts for foreign government taxes and 44 countries.) “
Buffett added that the total payment of the company’s income tax is in American treasury Over time, they reached a total of $ 101 billion and noted that the company had paid only one dividend in the last 60 years enabled a conglomerate to build its base of taxable income over time.
Buffett’s surprise November is a letter to a personal tone
The value of the investor, known for holding the shares in the long run, also advertised its top -notch investment.
“We have a small percentage of a dozen or so large and very profitable companies with household names such as Apple, American Express, Coca-Cola and Moody’s.
Buffett continued to talk about Value of capitalismHe said he had mistakes and abuse that “in certain aspects they are now more feverish than ever,” but “they can also do wonders unrivaled in other economic systems.”
