Q & A Archive

Warren Buffett threw down the gauntlet to Donald Trump again last week. It happened after Trump lied about Buffett’s federal income tax payments on national TV.

During the second presidential debate on Oct. 9, Trump said Buffett “took a massive deduction,” suggesting it was the kind that the Republican nominee used for years to dodge income taxes.

The next morning, Buffett reported to the world that he paid federal taxes every year since 1944 when he was 13. He owed $7 then. Last year, he paid $1.8 million, about 16 percent of his $11.6 million income. He gave $2.858 billion to charity that year. Yes, that’s billion with a b.

By contrast, Trump’s “charitable” foundation is under investigation for self-dealing, and he is the first presidential candidate in 40 years to refuse to disclose any federal income tax information.

In August, Buffett, who is six times richer than Trump, challenged the Republican nominee to a tax throw down. The point of honor in that duel would be revealing their returns. Buffet pointed out that both men are under audit, so that would be no excuse to chicken out. Still, Trump begged off.

It’s not enough for a presidential candidate to boast before adoring crowds. It’s crucial that candidates both embody and demonstrate American values. Those standards don’t include lying or shirking taxes or bragging about sexual assault or creating a charity to pay a candidate’s own bills. Buffett demonstrates American values in both words and actions. Trump displays utter obliviousness to those values.