Remember when Trump was questioned about his not paying taxes due to his losing hundreds of millions during the debate? The exchange with Anderson Cooper went like this…
“You have not answered, though, a simple question,” said Cooper. “Did you use that $916 million loss to avoid paying personal federal income taxes for years?”
“Of course I do. Of course I do,” responded Trump. “I absolutely used it. And so did Warren Buffett and so did George Soros and so did many of the other people that Hillary is getting money from.”
Apparently, Warren Buffett heard Trump’s claim, and decided he wasn’t going to take that lying down. Instead, Buffett responded by showing up the Republican nominee with a release of his own tax records.
“He has not seen my income tax returns. But I am happy to give him the facts,” Buffett said.
He then dropped this on the internet:
Fortune has a good breakdown of Buffett’s taxes.
Here’s the breakdown of Buffett’s income taxes for 2015, according to the statement:
Adjusted gross income: $11.6 million
Deductible charitable contributions: $3.5 million
Total deductions: $5.5 million
Federal income tax paid: $1.8 million
Warren says that during his entire tax paying life, he’s never used a “carryforward” from a loss, as Trump admits to doing due to his losing $916 million.
It should be noted that Warren Buffett is under audit, the same as Trump. Yet this hasn’t stopped Buffett from releasing his taxes. He has been challenging Trump to do so since August, stating that if Trump released his tax returns, Buffett would release his. Yet it seems Buffett couldn’t pass up the opportunity to show up The Donald.