Worstall of Forbes

Something that\’s confusing me a little bit.

That Lords committee (and yes, thank you Arnald, I do now get your little joke, it\’s rather better than I had at first assumed) on the FTT. I\’ve seen the written evidence, indeed have linked to it.

Yet there\’s some mention of their quoting me (as Mr. Forbes apparently) in their actual report. And I\’ve looked at the committee page and cannot actually see their report: only the written and oral evidence.

So, anyone got a link to that report where they do quote me?

4 thoughts on “Worstall of Forbes”

  1. “Tim Worstall of Forbes has drawn attention to the cascade effect of transactions taxes (as originally explained by Sir James Mirrlees, Nobel Laureate). Using the example of pasta purchased and consumed in the UK but the various components of which are assembled in different parts of Europe, Mr. Forbes argues that, before a final product (in this case, pasta) reaches the hands of a European consumer, prices of its various raw materials would be hedged on financial markets by corporations in different countries in Europe in order to protect themselves from price fluctuations.”


    It is common knowledge to those who own substantial amounts of Berkshire Hathaway class A shares to use Trusts illegally to avoid taxes. Shareholders put the their shares into “street name” where the IRS and the SEC cannot recognize who the real owners are. When the shareholder dies, the trustee of the trust uses the trust as an instrument to transfer the shares to the person listed in the trust. The beneficiary of the shares uses the same street name and now takes ownership of the shares. This way the SEC and the IRS cannot recognize that there has been a change and Berkshire Hathaway does not report the change as well. It is not reported as apart of the previous shareholders estate and now illegally avoiding estate/gift taxes! For auditing purposes, Berkshire Hathaway uses the trust to show that it was a legal transfer if asked upon. However, if the IRS and the SEC would look to see if the taxes were paid–they would find the fraud because it was not reported correctly with the estate and the county/state. The trust does not have to go through the estate (probate) but it does have to be listed as an asset which is never done either. This is helped along by Berkshire Hathaway not paying a dividend since 1967. The shares do not require a federal tax id number because there isn’t any income associated with the shares. This is the main reason Buffett doesn’t want to pay a dividend because it would expose all of this fraud. Buffett received over $40 million in capitol gains and dividends last year but he won’t give the same luxury to his shareholders–this is the reason!

    Now-one person might ask if Berkshire Hathaway has always traded as Berkshire Hathaway. The answer is simple–Berkshire Hathaway is an dba (doing business as) name and it trades as OBH Inc. and NBH Inc. within the SEC records. In 1999, OBH INC ( Old Berkshire Hathaway) went dormant in the corporate world and exactly one minute later started up NBH INC (New Berkshire Hathaway) with the same incorporated date of 1973 of OBH INC. They transferred the cash over to this new corporation (NBH INC) and started doing their mergers again. They did a merger in themselves and it is extremely ILLEGAL! Now all the shares before 1999 are in corporation OBH Inc. and the ones after 1999 are listed in NBH INC. Buffett and his board of directors did this because they could ask for the stock transfer book back from Equiserve citing that they went dormant with the original corporation. This allows Buffett to manipulate the transfer book to his advantage. For example, since all of his early investors shares are in OBH INC., he can monitor the shares to see if anyone claims their shares when they die. If they don’t, Buffett can transfer those shares to anyone he wants to which is to his benefit. Now we have two corporations with the same incorporated date and the same federal tax id number. This was the only way that Buffett could hide his shareholders shares into “street name”. By committing this stock fraud, it is a taxable transaction, and costs all of his shareholders about $12,000 per share at the time it was executed! Berkshire Hathaway also did not have a shareholders meeting to vote on this which is also illegal!

    This all happened to my grandfathers shares and he is not the only one! When my grandfather died, they used a trust to transfer the shares to Bill Gates. This allows Buffett to maintain controlling interest (over 51%) in Berkshire Hathaway no matter what the shareholders vote every May. Now, Bill Gates has been voting those shares illegally for three years since my grandfather has died! Judge Robert Ensz from Nebraska has been asked to resign after my grandfather paid him $200,000 through Waddell & Reed to look the other way when asked about the shares on his estate before he died!
    Also, Berkshire Hathaway has an auditing problem because Lance Munger, relation to Charlie Munger, was on the certified auditing team for Deloitte & Touche for years which was a conflict of interest. He has also been removed as this comes to light.
    By making this public it will make transparency among the IRS, SEC, Berskhire Hathaway, and others! I have all the documents you need for proof.

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