Warren Buffett to Trump: 'I have paid federal income tax every year since 1944'

by Jeanne Sahadi 

 

Warren Buffett schooled Donald Trump on Monday about the taxes of a billionaire

 

"Mr. Trump says he knows more about taxes than any other human. He has not seen my income tax returns. But I am happy to give him the facts," Buffett said in a statement.

 

Buffett was responding to an exchange in Sunday's debate in which Clinton called on Trump to release his tax returns. Clinton has blasted Trump for using the tax code aggressively to avoid paying federal income tax.

 

"Many of her friends took bigger deductions. Warren Buffett took a massive deduction," Trump said.

 

Full story: http://money.cnn.com/2016/10/10/pf/taxes/warren-buffett-trump-taxes/index.html

 

-- © Copyright CNN MOney 2016-10-11

Good article.  Don't worry Warren about Donald's BS statements....Donald can't control the BS that flows from his mouth.

 

One of the biggest crony-capitalists in the country..."Bailout Buffet "

"A Sacramento Bee examination of regulatory records has found that billionaire investor Warren Buffett's extensive holdings in financial firms have made him one of the top beneficiaries of the banking bailout...."

Read more here: http://www.mcclatchydc.com/news/nation-world/national/economy/article24532354.html#storylink=cpyhttp://www.mcclatchydc.com/news/nation-world/national/economy/article24532354.html

A totally self serving and meaningless statement. Percentage wise I would venture to say that Buffet pays a significantly lower amount than your average blue or white collar worker earning a minute salary by comparison !

Come on now, let's not kid ourselves when it comes to Trump lying.  Surely nobody believes him do they?  After all he is a wannabe politician and there is no room in politics for the truth.

29 minutes ago, phantomfiddler said:

A totally self serving and meaningless statement. Percentage wise I would venture to say that Buffet pays a significantly lower amount than your average blue or white collar worker earning a minute salary by comparison !

Still a lot more than Trump.

58 minutes ago, phantomfiddler said:

A totally self serving and meaningless statement. Percentage wise I would venture to say that Buffet pays a significantly lower amount than your average blue or white collar worker earning a minute salary by comparison !

 

Percentages and proportions are not the issue.

 

The issue is that Buffet, apparently, has nothing to hide.

 

Trump, apparently, has.

 

That is not a good "look" for a man who would be "King" (Renewable, subject to public approval, after four years. Maximum term limits apply)

Edited October 11, 20169 yr by Enoon

Buffet pays a lower rate because he donates far beyond deductible amount to charity, like 2.5 Billion bucks. I'm not implying factory worker should match his percentage of charity donations, but am pointing out Buffet lowered his percentage. Any amount he may have saved by that is deduction is dwarfed by amount he gave away by donating: he wants to make a difference

1 hour ago, phantomfiddler said:

A totally self serving and meaningless statement. Percentage wise I would venture to say that Buffet pays a significantly lower amount than your average blue or white collar worker earning a minute salary by comparison !

Yes he does and he has stated it to the public before that it wasn't fair that he was paying a lower percentage of tax than his assistant. Buffet is in agreement with you.

http://money.cnn.com/2013/03/04/news/economy/buffett-secretary-taxes/

Buffet pays taxes.

Every.single.year.

 

And, he gives to charities, instead of taking from them.

 

What a loser.

 

Trump/Pence 2016!

 

 

1 hour ago, phantomfiddler said:

A totally self serving and meaningless statement. Percentage wise I would venture to say that Buffet pays a significantly lower amount than your average blue or white collar worker earning a minute salary by comparison !

I am surprised he did not move his head office to Ireland. There your taxes are almost zero and as in Facebooks case your revenue sky rockets and you get a rebate. Must make ordinary Irish people feel good. Ditto Apple and the other mega businesses. 

1 hour ago, dunroaming said:

Come on now, let's not kid ourselves when it comes to Trump lying.  Surely nobody believes him do they?  After all he is a wannabe politician and there is no room in politics for the truth.

 

Absolutely no room at all: https://www.youtube.com/watch?v=-dY77j6uBHI

 

Oz billionaire Kerry Packer once said that anyone who pays more taxes than he has to is a fool. Tax avoidance is a crime, but tax minimisation to that allowed in the tax codes is the right of every citizen.

I did a quick google check of Buffet, and he is a "stockbroker" and an "investor" ergo he makes money from nothing, never built anything, never employed many people.

In 1944 he took a tax deduction on his tax return.

 

Nothing to see here except a wealthy BS artist.

If Bernie won, he'd tax Buffet till he squeaked, and quite right too.

According to its 2015 annual report, Warren Buffet's holding company Berkshire Hathaway has 331, 000 employees.

https://www.google.com/finance?q=NYSE%3ABRK.A&ei=98f8V-itHdSougSfpJj4Dw

In fact checks from the first two debates Trump lied about 50% of checked statements. This should come as a surprise to nobody.

4 minutes ago, JLCrab said:

According to its 2015 annual report, Warren Buffet's holding company Berkshire Hathaway has 331, 000 employees.

https://www.google.com/finance?q=NYSE%3ABRK.A&ei=98f8V-itHdSougSfpJj4Dw

Amazing. Making money from nothing can employ 331,000 people, and I'm sure they all make more than nurses, builders, plumbers, carpenters and others that actually fulfill a real purpose in life.

The capitalist system is so corrupt. I wish Bernie was still in. He's tax them all out of a job and they might have to do something real instead.

5 minutes ago, jcsmith said:

In fact checks from the first two debates Trump lied about 50% of checked statements. This should come as a surprise to nobody.

5 minutes ago, thaibeachlovers said:

Amazing. Making money from nothing can employ 331,000 people, and I'm sure they all make more than nurses, builders, plumbers, carpenters and others that actually fulfill a real purpose in life.

The capitalist system is so corrupt. I wish Bernie was still in. He's tax them all out of a job and they might have to do something real instead.

While many Berkshire Hathaway companies are in insurance, it also owns Benjamin Moore Paints,  Clayton (modular) Homes, and the Burlington Northern Railroad.

33 minutes ago, thaibeachlovers said:

 

I continue to be surprised that people find something useful and credible in Trump.  Even when he flat out lies they seem to be able to post rationalize that it's not really a lie.  This has nothing to do with whether Clinton is better or even good.  

1 hour ago, thaibeachlovers said:

Amazing. Making money from nothing can employ 331,000 people, and I'm sure they all make more than nurses, builders, plumbers, carpenters and others that actually fulfill a real purpose in life.

The capitalist system is so corrupt. I wish Bernie was still in. He's tax them all out of a job and they might have to do something real instead.

 

So which is it? He employs hardly anyone, or he employs lots of people, but they are not doing anything you approve of? You cannot have it both ways.

2 hours ago, halloween said:

Oz billionaire Kerry Packer once said that anyone who pays more taxes than he has to is a fool. Tax avoidance is a crime, but tax minimisation to that allowed in the tax codes is the right of every citizen.

 

Packer and his ilk either write (or in his case, wrote) the tax codes or they control the people who write the tax codes. I also want to be exempt from paying my fair share but the politicians don't listen to me so they do not legislate in my favour.

 

To say that the loopholes these people exploit are the right of every citizen is as valid as saying that we all have the right to buy a 100m superyacht. In theory we all do, but very few of us are actually in a position to take up that right.

What about Buffet?  Does that make me left-handed or something?

4 hours ago, jcsmith said:

In fact checks from the first two debates Trump lied about 50% of checked statements. This should come as a surprise to nobody.

As a politician with a BS degree it's never lying, just handling truth as carelessly too.

Buffet is making a big assumption here. He's assuming Trump understands the concept that charitable giving means giving your own money away.

 

T

14 hours ago, jcsmith said:

In fact checks from the first two debates Trump lied about 50% of checked statements. This should come as a surprise to nobody.

On the plus side, that is down from his normal 70% rate of lying....