Beltway Confidential

Warren Buffett’s company lobbies for special tax credit

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Beltway Confidential,Timothy P. Carney,Taxes,Warren Buffett,Analysis

Billionaire Obama fundraiser Warren Buffett thinks his tax rate is too low, which is fine. He also lobbies the government to take more money from other rich people while personally pocketing bailout money, ethanol subsidies, and government contracts — all of which is less than fine, in my opinion.

But now Buffett’s company is lobbying Massachusetts to give his company a special tax break. Richline Group is not trying to take advantage of a tax break that’s available to everyone — Richline wants the state to give it a break because Richline is special.

Boston.com reports:

Richline Group Inc., a subsidiary of Buffett’s Berkshire Hathaway Inc., has requested tax credits from the state in order to invest in an Attleboro jewelry manufacturing plant. Richline has promised to create 100 new jobs and spend $3.6 million to upgrade the plant if it gets a little financial lift from the state.

The Massachusetts Economic Assistance Coordinating Council will vote on the request from Richline and nearly 20 other companies at its Wednesday meeting.

Recall, Buffett’s corporate-jet company lobbied like crazy for a tax break for corporate jets.

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