Where Donald Trump and Warren Buffett Agree

Where Donald Trump and Warren Buffett Agree

Alexander Green, Chief Investment Strategist, The Oxford Club

Alexander GreenMy recent column on Trump and his tax deductions generated a firestorm of feedback from readers.

It’s not hard to understand why. Trump gets people’s dander up. And so do taxes.

After the second presidential debate, Warren Buffett, an outspoken advocate for Hillary Clinton, stepped into the spotlight and disclosed information from his own tax returns to refute Trump’s claim that he too used the complicated tax code to take “huge deductions.”

The two billionaires differ sharply on taxes. But only in how they talk about them – not so much in what they actually do about them.

Buffett has often called for big tax increases on America’s highest earners, even though – according to the IRS – the top 2.7% of U.S. households pay more income taxes than the other 97.3% of us combined.

But soaking entrepreneurs, business owners and investors does not incentivize business expansion, innovation or job creation.

Trump, on the other hand, wants to reduce personal income taxes for almost everyone. He also wants to cut the corporate tax rate from 35% to 15% and eliminate the estate tax entirely.

Polls show that Trump’s chances of getting elected are growing increasingly dim.

But his tax proposals – while far short of the drastic reform and simplification the tax code needs – are a good starting point for discussion.

I have much more respect for Buffett as an investor and a philanthropist. But, at least in this instance, Trump is actually being more forthright.

How can I say that when Trump hasn’t even released his tax returns? Because Trump doesn’t deny he has used the code to minimize his taxes.

That’s legal. And virtually all taxpayers do it, including Warren Buffett.

“Let’s not forget that Buffett is one of the world’s wealthiest individuals precisely because his $64.8 billion fortune is almost entirely untaxed.”

Buffett claims that his secretary pays taxes at a higher rate than he does. Yet he generally neglects to note that his annual salary is just $100,000 – and he takes deductions for his generous charitable contributions.

Moreover, let’s not forget that Buffett is one of the world’s wealthiest individuals precisely because his $64.8 billion fortune is almost entirely untaxed.

Like Trump, Buffett has used aggressive money-saving tax strategies, not so much on his personal returns, but most definitely with Berkshire Hathaway, the primary source of his wealth.

In 2014 and 2015, Berkshire did three “cash-rich split-off transactions” that allowed the company to avoid more than $2.5 billion in capital gains taxes.

This was not unusual. Buffett has long made an art of tax avoidance. For instance, Berkshire had money behind the recent Burger King-Tim Hortons inversion, helping a U.S. company avoid taxes by departing to Canada.

Buffett has famously said that the capital gains tax is not a tax on capital gains but a tax on transactions. So he makes very few of them.

He claims his favorite holding period is “forever.” Indeed, he has held companies

like American Express, Coca-Cola, Procter & Gamble, Wells Fargo, Graham Holdings and others not just for years but for decades.

In addition, Berkshire Hathaway has never paid a dividend in the nearly 50 years since Buffett began running it. So, over the last half-century, he has never paid a dime in dividend taxes on his multibillion-dollar Berkshire holdings.

Buffett won’t be selling his own shares of Berkshire and paying capital gains taxes on them down the road either. He has pledged most of his fortune to the Bill & Melinda Gates Foundation.

That’s a worthy thing to do. However, his contribution came with a single string attached. The donation is contingent on charitable contributions remaining tax-deductible.

By doing this, he will also dodge estate taxes on those shares, depriving the government of tens of billions of dollars of tax revenue.

In sum, both men take advantage of personal and corporate tax breaks. Trump admits it. Buffett doesn’t talk about it.

Trump wants to make sure no one pays estate taxes. Buffett is only making sure that he himself avoids estate taxes.

I’m no great fan of Donald Trump. But when it comes to taxes, you’d be well advised to ignore what Buffett says.

And just minimize your taxes – the same way both men do.

Good investing,





Cesare Brai’s photo.



“A wolf pack on the move :


  • the first 3 are the old or sick, they give the direction and pace to the entire pack. If it was the other way round, they would be left behind, losing contact with the pack. In case of an ambush they would be sacrificed;
  • then come 5 strong ones, the front line;


  • In the center are the rest of the pack members;


  • then the 5 strongest following.


  • Last is alone, the Alpha.

He controls everything from the rear.  In that position he can see everything, decide the direction.  He sees all of the pack.

The pack moves according to the elders’ pace and help each other, watch each other.


Again I am left speechless by nature … I knew that wolves are different, but didn’t realize how much we could learn from them…



Unknown author


Reason why James Comey didn’t charge Hillary..

New height for cronyism
When James Comey decided not to indict HillaryClinton, the whole American public was shocked. Everyone expected him to chargeHillary.
However, now we now the real reason why Comey didn’t chargeHillary.
His personal and professional relationships — all undisclosed as he announced the Bureau would not prosecute Clinton — reinforce bipartisan concerns that he may have politicized the criminal probe.
These concerns focus on millions of dollars that Comey accepted from a Clinton Foundation defense contractor, Comey’s former membership on a Clinton Foundation corporate partner’s board, and his surprising financial relationship with his brother Peter Comey, who works at the law firm that does the Clinton Foundation’s taxes.
Comey earned $6 million in one year alone from Lockheed Martin. Lockheed Martin became a Clinton Foundation donor that very year.
According to records, Lockheed Martin is also a member of the American Chamber of Commerce in Egypt, which paid Bill Clinton $250,000 to deliver a speech in 2010.
In 2010, Lockheed Martin won 17 approvals for private contracts from theHillary Clinton State Department.
In 2013, Comey became a board member, a director, and a Financial System Vulnerabilities Committee member of the London bank HSBC Holdings
When our source called the Chinatown offices of D.C. law firm DLA Piper and asked for “Peter Comey,” a receptionist immediately put him through to Comey’s direct line. But Peter Comey is not featured on the DLA Piper website.
Peter Comey serves as “Senior Director of Real Estate Operations for the Americas” for DLA Piper. James Comey was not questioned about his relationship with Peter Comey in his confirmation hearing.
DLA Piper is the firm that performed the independent audit of the Clinton Foundation in November during Clinton-World’s first big push to put the email scandal behind them. DLA Piper’s employees taken as a whole represent a major HillaryClinton 2016 campaign donation bloc and Clinton Foundation donation base.
DLA Piper ranks #5 onHillaryClinton’s all-time career Top Contributors list, just ahead of Goldman Sachs.
And here is another thing: Peter Comey has a mortgage on his house that is owned by his brother James Comey, the FBI director.
Trickle-down corruption.
When PresidentObamanominated Comey to become FBI director in 2013, Comey promised the United States Senate that he would recuse himself on all cases involving former employers.
He lied. He has in fact politicized the FBI— that is supposed to support the Rule of Law.
The FBI’s investigation of HillaryClinton needs to be re-opened, Comey and Attorney General Loretta Lynch should recuse themselves and Congress should demand the appointment of a Special Prosecutor.
As you can see, Hillary is tightly connected to Comey. If you still didn’t know whyHillary wasn’t indicted, now you know!
Let’s share this article everywhere. America deserves to know!


No matter where you stand — left field, center, right, “out of bounds” — here is an interesting piece provided by another esteemed colleague which may “stimulate” (but not insult) you.      
     This email reflects how many people feel today.
~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~ ~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~ ~~~~~~~~~~~~
     I am now in my 70’s.
    Recently I received a questionnaire and request for money from the Republican Party and strongly agree with every question, as I have since Obama was elected.
     Unfortunately the one question that was missing is: What have the  Republicans done for the American people?
     We gave you a majority in the House and Senate, and you never  listened to us. Now you want our money, my money, more money. You should be more concerned about our votes, not our money.
     You are the establishment which means all you want is to save your jobs and line your pockets.
     Well guess what? It’s not going to happen.
     You might think we are fools because you feel Trump is on a self-destruct course, but look beyond Washington and listen to the masses. Nobody has achieved what he has, especially in the state of New York.

     Here’s why I want Trump. Yes, he’s a bit of an ass; yes, he’s an  egomaniac; but I don’t care.

          The country is a mess because politicians suck.
          The Republican Party is two-faced and gutless, and   illegals are  everywhere.
          I want it all fixed!
          I don’t care that Trump is crude.
          I don’t care that he insults people.
          I don’t care that he has changed positions.
          I don’t care that he’s been married 3 times.
          I don’t care that he fights with Megan Kelly and Rosie O’Donnell.
          I don’t care that he doesn’t know the name of some Muslim terrorist.
     Our country has become weak, and bankrupt. Our enemies are making fun of us. We are being invaded by illegals. We are becoming a nation of victims where every Tom, Ricardo and Hassid is a special group with special rights to a point where we don’t even recognize the country we were born and raised in, “AND I JUST WANT IT FIXED.”
     And Trump is the only guy who seems to understand what We The People want and need.
     I’m sick of politicians, sick of the Democratic Party, the  Republican Party, and sick of illegals. I just want this thing fixed.
     Trump may not be a saint, but he doesn’t have lobbyist money controlling him; he doesn’t have political correctness restraining him; all you know is that he has been very successful; a good negotiator; he has built a lot of things; and, he’s also not a politician.
     And, he says he’ll fix it. And, I believe him because he is too much of an egotist to be proven wrong or looked at and called a liar.
     I don’t care if the guy has bad hair.
     You are welcome to pass this on, or not.
      Thought for the Day  “No country can sustain, in idleness, more than a small percentage of its numbers. The great majority must labor at something productive!”
     Don R. “Dick” Ivey, PhD
P.S.  No Borders, No Language, No Culture = No Country.
         I sure hopes this goes to everyone.

           This, pretty much, says it all.

The End is Coming

Trending News: Chinese Assault On USD Begins… Trump, Former U.S. Congressman Issue the Following Warnings:

– Former U.S. Congressman: ‘The End is Coming’

– Chinese Yuan to Replace The US Dollar by End of 2016?

– Federal Government to Steal our 401Ks & IRAs to Solve Fiscal Crisis?

– Warning: Economists Expect an 80% Stock Market Crash to Strike in 2016

– National Debt Hits $19 Trillion, Total value of IRA’s $23 Trillion… is your retirement account safe?


– Former U.S. Congressman Warns of Imminent Currency Collapse by Winter 2016

– Trump Warns US Financial Collapse Is Coming

– IRS Loophole Now Allows You to Store Your IRA/401k at Home


– These Billionaires Are Betting BIG on a 2016 Market Collapse

No Need to Panic If Trump Doesn’t Accept Election Results

No Need to Panic If Trump Doesn’t Accept Election Results
By Patrick Buchanan
Pressed by moderator Chris Wallace as to whether he would accept defeat should Hillary Clinton win the election, Donald Trump replied, “I will tell you at the time. I’ll keep you in suspense.”
“That’s horrifying,” said Clinton, setting off a chain reaction on the post-debate panels with talking heads falling all over one another in purple-faced anger, outrage and disbelief.
“Disqualifying!” was the cry on Clinton cable.
“Trump Won’t Say If He Will Accept Election Results,” wailed The New York Times.
“Trump Won’t Vow to Honor Results,” ran the banner in The Washington Post.
But what do these chattering classes and establishment bulletin boards think the Donald is going to do if he falls short of 270 electoral votes?
Lead a Coxey’s Army on Washington and burn it down as British General Robert Ross did in August 1814, while “Little Jemmy” Madison fled on horseback out the Brookville Road?
What explains the hysteria of the establishment? In a word, fear.
The establishment is horrified at the Donald’s defiance because, deep within its soul, it fears that the people for whom Trump speaks no longer accept its political legitimacy or moral authority.
It may rule and run the country, and may rig the system through mass immigration and a mammoth welfare state so that Middle America is never again able to elect one of its own.
But that establishment, disconnected from the people it rules, senses, rightly, that it is unloved and even detested.
Having fixed the future, the establishment finds half of the country looking upon it with the same sullen contempt that our Founding Fathers came to look upon the overlords Parliament sent to rule them. Establishment panic is traceable to another fear: Its ideology, its political religion, is seen by growing millions as a golden calf, a 20th-century god that has failed.
Trump is “talking down our democracy,” said a shocked Clinton.
After having expunged Christianity from our public life and public square, our establishment installed “democracy” as the new deity, at whose altars we should all worship.
And so our schools began to teach.
Half a millennia ago, missionaries and explorers set sail from Spain, England and France to bring Christianity to the New World.
Today, Clintons, Obamas and Bushes send soldiers and secularist tutors to “establish democracy” among the “lesser breeds without the Law.”
Unfortunately, the natives, once democratized, return to their roots and vote for Hezbollah, Hamas and the Muslim Brotherhood, using democratic processes and procedures to re-establish their true God. And Allah is no Democrat.
By suggesting he might not accept the results of a “rigged election” Trump is committing an unpardonable sin. But this new cult, this devotion to a new holy trinity of diversity, democracy and equality, is of recent vintage and has shallow roots.
For none of the three — diversity, equality, democracy — is to be found in the Constitution, the Bill of Rights, the Federalist Papers or the Pledge of Allegiance. In the pledge, we are a republic.
When Ben Franklin, emerging from the Philadelphia convention, was asked by a woman what kind of government they had created, he answered, “A republic, if you can keep it.” Among many in the silent majority, Clintonian democracy is not an improvement upon the old republic; it is the corruption of it.
Consider: Six months ago, Virginia Gov. Terry McAuliffe, the Clinton bundler, announced that by executive action he would convert 200,000 convicted felons into eligible voters by November.
If that is democracy, many will say, to hell with it.
And if felons decide the electoral votes of Virginia, and Virginia decides who is our next U.S. president, are we obligated to honor that election?
In 1824, Gen. Andrew Jackson ran first in popular and electoral votes. But, short of a majority, the matter went to the House.
There, Speaker Henry Clay and John Quincy Adams delivered the presidency to Adams — and Adams made Clay secretary of state, putting him on the path to the presidency that had been taken by Jefferson, Madison, Monroe and Adams himself.
Were Jackson’s people wrong to regard as a “corrupt bargain” the deal that robbed the general of the presidency?
The establishment also recoiled in horror from Milwaukee Sheriff Dave Clarke’s declaration that it is now “torches and pitchforks time.”
Yet, some of us recall another time, when Supreme Court Justice William O. Douglas wrote in “Points of Rebellion”: “We must realize that today’s Establishment is the new George III. Whether it will continue to adhere to his tactics, we do not know. If it does, the redress, honored in tradition, is also revolution.”
Baby-boomer radicals loved it, raising their fists in defiance of Richard Nixon and Spiro Agnew. But now that it is the populist-nationalist right that is moving beyond the niceties of liberal democracy to save the America that they love, elitist enthusiasm for “revolution” seems more constrained.
What goes around comes around.
Patrick Buchanan has been an adviser to three presidents, a two-time candidate for the Republican presidential nomination, and the nominee for the Reform Party in 2000. He was also a founding member of “The McLaughlin Group,” which began on NBC, and CNN’s “Capital Gang” and “Crossfire.” His latest book is: “The Greatest Comeback: How Richard Nixon Rose From Defeat to Create the New Majority.”
© 2016 Newsmax. All rights reserved.