By Dan Alexander
...Think Warren Buffett (click here) is worried about paying someone $1 billion for a perfect bracket? Think again.
The second-richest man in America had already made $1 billion before the second day of March Madness had even tipped off.
Shares in his investment company Berkshire Hathaway BRK.A +%
went up 1.7% from yesterday’s opening whistle at 12:15 p.m. to this
morning at 9:36 a.m. That slight change was enough to bump Buffett’s net
worth up $1.05 billion to $64 billion.He wasn’t handed $1 billion in cash, but on paper, he had made 10 figures in less than 24 hours....
It just seems as though Donald Trump is more of a gambler than others. A billion dollar loss is not the experience of everyday Americans. A loss like that is thought of as shameful, but, Mr. Trump considers it good business. I thought businesses were suppose to make profits, with the exception of a bad year here and there.
Thank you, Mr. Buffet. It was very decent of you to participate in the country's facts.
October 10, 2016
By Patricia Cohen
...Acknowledging for the first time that he (Donald Trump) 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.
“Many of her friends took bigger deductions,” Mr. Trump said. “Warren Buffett took a massive deduction.”
Actually, he did not.
“I have paid federal income tax every year since 1944,” Mr. Buffett wrote in a letter released Monday.
“My
2015 return shows adjusted gross income of $11,563,931,” he revealed.
“My deductions totaled $5,477,694.” About two-thirds of those
represented charitable contributions, he said. Most of the rest were
related to Mr. Buffett’s state income tax payments.
Mr.
Buffett, the chairman of Berkshire Hathaway and one of the richest men
in the world, went on to say: “My federal income tax for the year was
$1,845,557. Returns for previous years are of a similar nature in
respect to contributions, deductions and tax rates.”...
