Warren Buffett responds to Donald Trump’s tax comments
Buffett responded today to Trump’s comments during yesterday’s debate when Trump confirmed using a USD 916 million loss in 1995 to avoid paying federal income taxes.world Updated: Oct 11, 2016 13:02 IST
Investor Warren Buffett said that he has never used the kind of tax deduction that Republican presidential candidate Donald Trump did, adding that he’s paid taxes every year for 72 years.
Buffett responded today to Trump’s comments during yesterday’s debate when Trump confirmed using a USD 916 million loss in 1995 to avoid paying federal income taxes.
Buffett released details of his own taxes and reiterated his call for Trump to release his tax returns. The investor is a long-time supporter of Democratic candidate Hillary Clinton.
Buffett reported an adjusted gross income of USD 11,563,931 in 2015. The billionaire said his return included USD 5,477,694 of deductions, but tax laws kept him from claiming most of his USD 2,858,057,970 charitable gifts as deductions.
Buffett said he paid USD 1,845,557 in federal income taxes last year.