Debate #2 Vol. 2: Trump Claims Warren Buffett “Took A Massive Deduction.” So Buffett Released His Tax Returns.

buffet

Obviously the topic of Donald Trump’s tax returns was going to come up in the second Presidential debate. Donald Trump tried to deflect the fact that he had paid no income taxes by saying that many of Clinton’s wealthy donors didn’t pay any taxes either.

“Now, the taxes are a very simple thing. As soon as I have — first of all, I pay hundreds of millions of dollars in taxes,” Donald Trump said, after bragging that he was ‘smart’ in the first debate for paying no taxes. “Many of her friends took bigger deductions. Warren Buffett took a massive deduction. Soros, who’s a friend of hers, took a massive deduction. Many of the people that are giving her all this money that she can do many more commercials than me gave her — took massive deductions.”

Warren Buffett responded by saying “Trump better get my name out he mouth.” Ok, he said that in a wonderful dream I had. But in real life the sentiment Warren Buffett expressed was similar, saying “I have paid federal income tax every year since 1944, when I was 13. (Though, being a slow starter, I owed only $7 in tax that year.) I have copies of all 72 of my returns and none uses a carryforward,” Buffett said in a statement.

Trump claimed that Buffett took “a massive deduction.” He may be confusing carryforward deductions with Buffett’s charitable giving as Warren Buffett gave $2.36 BILLION to charities in 2015 alone. Let that wash over you. A man who paid no taxes is taking shots at the fourth richest man in the world that gave over $2 billion to charities last year alone. Your move, Donald.

Sources:
http://www.bbc.com/news/election-us-2016-37613971
How Warren Buffett’s Released Tax Returns Prove Trump Wrong

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