Core Viewpoint - Warren Buffett expressed gratitude towards the U.S. government for tax contributions, stating a desire for Berkshire Hathaway to pay even more in the future [1][5] Tax Contributions - Berkshire Hathaway paid $26.8 billion in taxes in 2024, divided into four payments throughout the year [2] - This tax payment is significantly higher than any previous corporate tax contributions in U.S. history, surpassing even major tech companies [2] - The cumulative tax paid by Berkshire over its lifetime amounts to $101 billion [2] Company Pride and Historical Context - Buffett views the substantial tax payment as a point of pride, contrasting it with the company's past when it owed no income tax for a decade [4] - The company has transformed from a struggling entity in 1965 to a valued corporation worth $1.065 trillion today [4] Belief in the U.S. Economy - Buffett attributes Berkshire's success to the favorable corporate environment in the U.S., emphasizing that the company could not have achieved its results elsewhere [5]

Group 1 - Berkshire Hathaway has reduced its stake in Bank of America, now holding over 605 million shares, which represents an 8.2% stake in the bank and 9.8% of Berkshire's total stock portfolio [3][5] - From July 2024 through the second quarter of the current year, Berkshire has sold approximately 427 million shares of Bank of America, equating to around 41% of its previous position [5] - Berkshire's cash reserves have reached a record $344 billion, attributed to selling shares in Bank of America and other stocks, including Apple [6][10] Group 2 - Berkshire's decision to sell shares may be influenced by the expectation of an increase in the marginal corporate tax rate, allowing for lower tax payments now [7] - The price-to-book ratio of Bank of America was around 1.29 at the start of August, indicating the stock was trading at a 29% premium [7][9] Group 3 - In the second quarter, Berkshire increased its stake in Pool by approximately 136%, now owning over 3.4 million shares valued at over $1 billion [10] - Pool is the largest wholesaler of swimming pool equipment and has seen a stock price return of nearly 47,000% since its IPO in October 1995 [11] - Pool possesses characteristics that align with Buffett's investment criteria, including a competitive moat, consistent profits, shareholder-friendly leadership, and an attractive dividend [13]

Over the past three decades. US corporations set up shop in Ireland. In 1996, about 3% of US businesses with global operations had Irish affiliates.By 2022, 25% of them opened Irish businesses. You really cannot talk about US multinationals in the last few decades without talking about Ireland. Big US corporations, that's technology companies like Apple, Microsoft or big pharmaceutical companies like Pfizer.Their tax strategies for, for many decades at least, were built around the role of Ireland. Something ...

Tax & Healthcare Policy Revisions - Senate Republicans are expected to propose revisions to key tax and healthcare policies, aiming for completion by July 4th [1] - Revisions may include adjustments to Medicaid savings (slowing growth, not cuts), discussions on SALT (State and Local Tax) deductions, and the Inflation Reduction Act [4] Economic Growth & Tax Rates - Locking in lower tax rates permanently, including low corporate tax, is crucial for job creation and innovation [7] - Fully restoring key business provisions (expensing, R&D, interest deductibility) and making the small business Main Street tax deduction of 20% permanent are seen as pro-growth measures [7] Deficit & Revenue - Estimates suggest the bill could add $2.5 trillion (Congressional Budget Office estimate) to the US deficit over a decade [8][9] - Growth can significantly impact revenue, as seen in 2017 when lowering the corporate tax rate from 35% to 21% resulted in higher revenue collection than projected [10] Tariff Policy & Trade - The speaker is generally not in favor of tariffs, except as a remedy for unfair trade practices, as they can drive up costs, slow the economy, and invite retaliation [14] - Anchoring crucial security-critical supply lines in the US and running them through reliable trading partners is important [15] - Canada and Mexico buy five times more "Made in America" products than China, highlighting the importance of positive trade relationships with these countries [17] Foreign Investment - Republicans generally believe in the growth and importance of foreign direct investment, which constitutes a sixth of the US economy [19] - A provision was added to deter OECD countries from implementing global minimum tax pillar 2, which could weaken US growth incentives and sovereignty over tax law [21]