Buffett: I'll Show My Tax Return If Other Rich People Do Too

Posted: Oct 13, 2011 8:09 AM

Billionaire Warren Buffett is willing to show Congress his tax returns, as long as other "uber-rich" people do it with him.

In an exchange of letters between the billionaire investor and a Republican congressman that Buffett sent the committee this week, Buffett is offering to release his federal tax returns, with a condition.

"If you could get other ultra rich Americans to publish their returns along with mine, that would be very useful to the tax dialogue and intelligent reform," Buffett wrote.

Buffett will plead for the supercommittee to raise his taxes as they try to hammer out a deficit reduction plan, but quite frankly, Buffett is wasting the time of the committee and tax payer dollars by requiring the government force him to pay more taxes, rather than doing it voluntarily.

In Buffett's letter sent Tuesday to Rep. Tim Huelskamp, R-Kan., Buffett did reveal new information about his own earnings last year. He wrote that his adjusted gross income, which can exclude some income and expenses, was $62,855,038. His taxable income was $39,814,784.

Reality check: Buffett can send a payment to the government today through check, credit or debit card by visiting pay.gov. Or, Buffett could head down to Occupy Wall Street and start handing out money to the people who think he is an evil, corporate, greed monster.