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Censored for Cynicism
- Oct 20, 2008
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Warren Buffett fires back at Donald Trump's comments about his taxes
In Sunday night's presidential debate in St. Louis, Trump claimed that Buffett took a "massive deduction" while defending his claimed $916 million loss in 1995 that allowed him to avoid federal income tax in at least some years. Buffett, a supporter of Democratic nominee Hillary Clinton, said Monday that Trump "has not seen my income tax returns."
"I have paid federal income tax every year since 1944, when I was 13. (Though, being a slow starter, I owed only $7 in tax that year.) I have copies of all 72 of my returns and none uses a carryforward," Buffett said in a statement.
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Buffett, the billionaire CEO of Berkshire Hathaway, said he is currently under audit and has "no problem in releasing (his) tax information while under audit."
"Neither would Mr. Trump — at least he would have no legal problem," Buffett said in a statement.
Buffett said that his 2015 return shows adjusted gross income of $11.56 million. He had total deductions of $5.48 million, which includes $3.47 million for allowable charitable contributions. He said he paid federal income tax of $1.85 million.
Buffett said he made $2.86 billion in charitable contributions for the year and did not take more than $2.85 billion of it as deductions.
In Sunday night's presidential debate in St. Louis, Trump claimed that Buffett took a "massive deduction" while defending his claimed $916 million loss in 1995 that allowed him to avoid federal income tax in at least some years. Buffett, a supporter of Democratic nominee Hillary Clinton, said Monday that Trump "has not seen my income tax returns."
"I have paid federal income tax every year since 1944, when I was 13. (Though, being a slow starter, I owed only $7 in tax that year.) I have copies of all 72 of my returns and none uses a carryforward," Buffett said in a statement.
snip/
Buffett, the billionaire CEO of Berkshire Hathaway, said he is currently under audit and has "no problem in releasing (his) tax information while under audit."
"Neither would Mr. Trump — at least he would have no legal problem," Buffett said in a statement.
Buffett said that his 2015 return shows adjusted gross income of $11.56 million. He had total deductions of $5.48 million, which includes $3.47 million for allowable charitable contributions. He said he paid federal income tax of $1.85 million.
Buffett said he made $2.86 billion in charitable contributions for the year and did not take more than $2.85 billion of it as deductions.
