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Donald Trump tried to call out Warren Buffett. He probably didn’t expect this response.
Apologies if it's a dupe. Will delete in that case.
The reason I posted this is that there is an explanatory video in the article that explains how the tax provision Donald Trump used works. I am not able to imbed it.
Donald Trump tried to call out Warren Buffett. He probably didn’t expect this response.
By Max Ehrenfreund
https://twitter.com/intent/MaxEhrenfreund
October 10 at 4:00 PM
In Sunday night's town hall debate, Donald Trump deflected questions about his taxes by claiming that Hillary Clinton's wealthy supporters had also avoided taxes by exploiting the law. He mentioned several, including Warren Buffett, by name.
Buffett responded with a statement on Monday, saying that Trump was incorrect. The octogenarian billionaire wrote that he had never taken advantage of the rule that Trump might have used to avoid paying tax on nearly $1 billion in income, according to several pages from one of his tax returns that were disclosed recently.
Anderson Cooper, one of the moderators, asked Trump whether he had used a $916 million loss that he reportedly claimed on the tax return from 1995 to reduce his taxes. “Of course I do. Of course I do, and so do all of her donors, or most of her donors,” Trump said.
It is unclear how Trump lost that much money, or if he used loopholes in the tax code to generate a legal loss on paper.
By Max Ehrenfreund
https://twitter.com/intent/MaxEhrenfreund
October 10 at 4:00 PM
In Sunday night's town hall debate, Donald Trump deflected questions about his taxes by claiming that Hillary Clinton's wealthy supporters had also avoided taxes by exploiting the law. He mentioned several, including Warren Buffett, by name.
Buffett responded with a statement on Monday, saying that Trump was incorrect. The octogenarian billionaire wrote that he had never taken advantage of the rule that Trump might have used to avoid paying tax on nearly $1 billion in income, according to several pages from one of his tax returns that were disclosed recently.
Anderson Cooper, one of the moderators, asked Trump whether he had used a $916 million loss that he reportedly claimed on the tax return from 1995 to reduce his taxes. “Of course I do. Of course I do, and so do all of her donors, or most of her donors,” Trump said.
It is unclear how Trump lost that much money, or if he used loopholes in the tax code to generate a legal loss on paper.
