Warren Buffett just wrote a letter to Congressman Tim Huelskamp that states his (huge) 2010 income and the (relatively tiny) check he wrote to the IRS last year.While doing so, he threw down the gauntlet. Warren Buffett will pay you whatever amount you wager IF:
1. You get an “ultra rich” person (one of the 400 highest-income Americans) to agree to release their tax returns to the public
2. He or she coordinates the release of their tax returns with the release of Buffett’s, so that they’re released simultaneously
And the clincher –
3. The numbers detailed in Warren Buffett’s tax return are not exactly those used in his op-ed piece
(So of course, you had better bet an amount of money that you can afford to pay Warren Buffett if the number on his return matches what he printed in his Op-Ed.)
The wager, as proposed by Warren Buffett in his letter to the Congressman:
Your letter suggests some doubt as to whether the figures I quoted from my 2010 return were accurate. If you can get any of the ultra rich to release their returns simultaneously with mine, I will be willing to have a pre-release wager with anyone who wishes for any sum that they wish that the figures in my return will be exactly those used in my op-ed piece. To be specific, my adjusted gross income was $62,855,038, my taxable income was $39,814,784 and my federal income tax was $6,923,494.
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