Buffett to Trump: You're Wrong About My Taxes

'I have paid federal income tax every year since 1944, when I was 13'
By John Johnson,  Newser Staff
Posted Oct 10, 2016 1:33 PM CDT
A file photo of Warren Buffett,, here with Bill Gates at left.   (AP Photo/John Peterson, File)

(Newser) – Donald Trump defended his avoidance of taxes during Sunday night's debate and said that many of Hillary Clinton's big donors—including Warren Buffett—used the same technique. On Monday, however, Buffett fired back that Trump doesn't know what he's talking about. "I have paid federal income tax every year since 1944, when I was 13," said Buffett in a release, per CNBC. "I have copies of all 72 of my returns and none uses a carryforward," he wrote, referring to the technique used by Trump. Buffett also tweaked Trump for refusing to release his returns because he's under audit, saying it's no excuse. “I have no problem in releasing my tax information while under audit," he wrote. "Neither would Mr. Trump–-at least he would have no legal problem.”

Buffett offered some particulars, revealing that his 2015 adjusted gross income was $11,563,931, with deductions of $5,477,694. He also points out that he donated more than $2.8 billion but took only $3.5 million in charitable deductions, which Vox sees as "a not-so-subtle dig at Trump’s' 'charitable' efforts, which amount to self-serving work by his foundation and not a whole lot else." Buffett has previously challenged Trump to appear with him in public to jointly release their returns, notes the Omaha World-Herald. (Read more Warren Buffett stories.)

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