Buffett Calls Trump’s Bluff and Releases His Tax Data

Donny called, and Buffett answered:

Warren E. Buffett is not running for president. But on Monday, Mr. Buffett, the billionaire investor, volunteered more detailed information about his income taxes than Donald J. Trump, the Republican nominee, ever has.

Mr. Buffett released the information after essentially being called out by Mr. Trump during Sunday night’s presidential debate.

Acknowledging for the first time that he had avoided paying federal income taxes for years by claiming nearly a billion dollars in losses in 1995, Mr. Trump then tried to shift attention to his Democratic opponent, Hillary Clinton, accusing some of her wealthy supporters of exploiting tax laws to their own advantage.

www.nytimes.com...

First nominee since 76' not the release his tax returns during a presidential run. What's the matter? Buffett did it within days after being called out and he isn't even running. What's up?

It's only a piece of paper you know? I carry my tax returns in my wallet every day.

What's happening here?

Why is he so scared of releasing it?

Is it the Russian monies floating about?
Is it the fact he hasn't paid any taxes for years while working class folk do?
Is he really not a billionaire?

Maybe it's all the money he's getting from his friends the Clintons for running as controlled opposition?

Who knows... Buffett released his. No problems.

“I have been audited by the I.R.S. multiple times and am currently being audited,” he wrote in the letter. “I have no problem in releasing my tax information while under audit. Neither would Mr. Trump — at least he would have no legal problem.”

..and let the excuses continue to pike up.

a reply to: Southern Guardian

I think we know why, without being too specific.

Because he is dirtier than a dumpster full of STD laden syringes, emptied into a sewer trap, and covered in plague rats.

a reply to: Southern Guardian

You carry you tax returns around in you r wallet.. what are they written on a freaking napkin?

What else do you expect from the Chump? Of course he has plenty to hide. Hell, what little did get released was enough. In the past 18 years, despite layoffs, job loss, and substandard pay, I still paid more in income taxes than Donald J Trump ever did.

What we haven't seen should be even better. Like, the actual truth of his "business success" or how a guy reporting next to nothing in income still lives in his gilded palace, living the high life.

Not that it would matter, anyway, because everything I know for fact from Trumps own mouth have guaranteed I'd never vote for him. At this stage, it's more comparing my speculations on his skeletons with the reality.

a reply to: KungfuStu

what are they written on a freaking napkin?

If he's as old as Buffett, maybe microfiche

(we still used then in late 70's when I entered the workforce)

www.google.com.au...

noun 1. a flat piece of film containing microphotographs of the pages of a newspaper, catalogue, or other document.

do you really think trump fans who now condone sexual assault and, that have defended his calls for the murder of his opponent, his racist, bigoted and misogynistic outbursts while applauding his constant lying, care about his taxes?

a reply to: Skadi_the_Evil_Elf

All your diatribe means is that you have never had a start from your Dad (like Trump did) to go and do some property developments.

BTW those taxes that you proudly wear like a badge of honour bailed out Banksters who are the 1%, and the biggest tax evaders and in some way probably responsible for one of your job losses in your past.

So I wouldn't think paying taxes is some god given honour only reserved for the moral crusaders.

a reply to: Southern Guardian

Is Buffet under audit?

originally posted by: Skadi_the_Evil_Elf
What else do you expect from the Chump? Of course he has plenty to hide. Hell, what little did get released was enough. In the past 18 years, despite layoffs, job loss, and substandard pay, I still paid more in income taxes than Donald J Trump ever did.

What we haven't seen should be even better. Like, the actual truth of his "business success" or how a guy reporting next to nothing in income still lives in his gilded palace, living the high life.

Not that it would matter, anyway, because everything I know for fact from Trumps own mouth have guaranteed I'd never vote for him. At this stage, it's more comparing my speculations on his skeletons with the reality.

If you did then I take it you regularly make 500 million a year or so huh? You do relize he owns over 500 companies don't you. Even for example thr trump casino he used to own is shutting it's doors just heard that recently they will have a huge loss on thr books. But thr next year if they manage to sell the casino that loss could turn into a profit since the sale of the property will produce income for investors. So Trump got out of the Casino business at the right time or else he'd show another loss on his taxes. But let's look at Trump's losses he had two main factors that caused it he bought an airline that failed and of course trump casino in Atlantic city. Those to he lost huge as we can see. But the sale of thr airline and the casino to investors mean he recouped some of his losses. I gurantee it only covered him a couple of years since he regularly makes 100s of millions. And his taxes would be more than most of us make in a lifetime.

Businesses do this all the time you write off losses even wal mart does this. But if the company doesn't fail they eventually start paying when they turn a profit it's tax 101. Let's say a company lost 1 million tax liability would be zero they didn't make money. The next year they make 500000 than again the next 500000. They will pay taxes on the 3 years of 1 million some where between 35 and 39 percent. Meaning tax wise they paid about 350000. This would be exactly the same rate for a company that made 1 million in profit for 3 years saying they made 333333 a year. Thus is why you can write off losses if not the company that took a huge loss would end up paying 800000 in taxes with 1 million in losses meaning they made 1 million in three years and owed 1.8 million. Needless to say no option bit shut the doors at that point.

originally posted by: BlueJacket
a reply to: Southern Guardian

Is Buffet under audit?

Most billionaires are regularly under audit you make large claims of losses and of course thr govt wants you to prove it. Or if a company doesn't make as much as they thought it would again audit. My business has had 2 in thr past ten years. Thr IRS may is concerned about small personal deductions but businesses is an entirely diffrent animal

a reply to: dragonridr

Yeah.

Or it could have been something completely different.

Donald Trump Got a Tax Break For Stiffing Contractors

originally posted by: BlueJacket
a reply to: Southern Guardian

Is Buffet under audit?

Nixon released his taxes and he was under an audit at the time. Being audited isn't what stopping Trump from releasing his taxes.

originally posted by: ManFromEurope
a reply to: dragonridr

Yeah.

Or it could have been something completely different.

Donald Trump Got a Tax Break For Stiffing Contractors

Don't believe the née York times they have been harping on this for a while but haven't a clue and it as all just speculation. The biggest part of his loss is very well known trump bought something he shouldn't have well two things the airline at 360 million and the casino. It's funny it was opened for 1 yr before they had to shut the doors.Taj Mahal casino in Atlantic City Trump paid more than $600 million for the unfinished casino, which he billed as the "eighth wonder of the world." It opened in 1990 and filed for bankruptcy the next year. He poured more money onto it trying to keep it alive and it failed miserably.

a reply to: Southern Guardian

While you *sniff at it *sniff:
Ask for a *sniff drug test too...*sniff

a reply to: stinkelbaum

You're so full of yourself like most blind Hillary supporter's, and if you don't support Hillary then you must be just plain ignorant. A private conversation between two men that was a mutual flirt between Trump and the woman in question does not equal sexual assault. But i'm guessing you wouldn't have a clue either way considering how out of touch with reality you have to be to reach your conclusion above.

a reply to: Southern Guardian

I've pretty much accepted he won't release his tax returns, but to me that is damning information that he is hiding something. Granted, I've never been a Trump supporter, but he has done jack squat to win me over. In fact, everything he does just makes me distrust him even more.

Con man through-and-through. It's just too bad that he's conned a whole political party's base into believing he can change things when he really only cares about himself. It's also equally a shame that this same base refuses to listen to reason to get them to stop supporting that buffoon. It's like they only care about making Clinton look bad at this point.

originally posted by: Floridagoat
a reply to: stinkelbaum

You're so full of yourself like most blind Hillary supporter's, and if you don't support Hillary then you must be just plain ignorant. A private conversation between two men that was a mutual flirt between Trump and the woman in question does not equal sexual assault. But i'm guessing you wouldn't have a clue either way considering how out of touch with reality you have to be to reach your conclusion above.

What are you talking about? You could support Gary Johnson or Jill Stein and not be a Trump supporter. Hell you could support no one and not be a Trump supporter. Trump is just an ass; why can't you guys admit that?

Buffet is a dem, no one cares about his taxes.

How bout them open borders hillary wants, eh?

originally posted by: dragonridr

originally posted by: ManFromEurope
a reply to: dragonridr

Yeah.

Or it could have been something completely different.

Donald Trump Got a Tax Break For Stiffing Contractors

Don't believe the née York times they have been harping on this for a while but haven't a clue and it as all just speculation. The biggest part of his loss is very well known trump bought something he shouldn't have well two things the airline at 360 million and the casino. It's funny it was opened for 1 yr before they had to shut the doors.Taj Mahal casino in Atlantic City Trump paid more than $600 million for the unfinished casino, which he billed as the "eighth wonder of the world." It opened in 1990 and filed for bankruptcy the next year. He poured more money onto it trying to keep it alive and it failed miserably.

Interesting.

Pour $600 million into a "money pit" property that you then close a year later and file bankruptcy on.

Was that $600 million perhaps, otherwise taxable income from another closely held business(s)?

Pumped into a project that, for instance, was never intended to be profitable, hence the closure after the first year, that sounds like a way to avoid paying tax on your $600 million.

While the bankruptcy neatly wipes out the majority of the debt incurred setting up the scam, er, scheme.

originally posted by: stinkelbaum
do you really think trump fans who now condone sexual assault and, that have defended his calls for the murder of his opponent, his racist, bigoted and misogynistic outbursts while applauding his constant lying, care about his taxes?

Did someone mention deplorables?