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Warren Buffett Takes a Burlesque Approach to Releasing Tax Return Info

The Oracle of O proves to be a master tease artist:

In a letter to Republican Rep. Tim Huelskamp Tuesday, Buffett revealed that his adjusted gross income last year was $62,855,038 and that his taxable income was $39,814,784.

Buffett said he paid $15,300 in payroll taxes. Buffett also said his federal income tax bill came to $6,923,494, or 17.4% of his taxable income — two points he revealed in a New York Times op-ed in August urging Congress to tax the wealthy more.

In another act of twirling his pasties, WB repeated his challenge to all his fellow “ultra-rich” peers to whip out their tax returns. Not sure if the OWS gang has jumped on this band wagon yet but it’s worth putting out there.

Buffett made $62,855,038 last year [CNN via Felix Salmon]

Warren Buffett Dares Rupert Murdoch to Whip It Out

His tax return, people. His tax return. Remember last week when the Journal told O^3 he should put up or shut up since he’s so gung ho about increasing taxes on the ultra-rich? Well, he sure does and he seemed delighted when someone asked him about it today:

Asked about the editorial on Tuesday at Fortune’s Most Powerful Women Summit, Buffett said he was willing to release his tax returns, on one condition: “I think it might be a terrific idea if they would just ask their boss, Rupert Murdoch, and he and I will meet at Fortune, and we’ll both give you our tax returns and you can publish them,” Buffett said. “I’m ready tomorrow morning,” he added.

Your move, Rupes.

Buffett challenges Murdoch on tax returns [CNN]

Warren Buffett Would Like to Clarify His Feelings on The Buffett Rule

“It isn’t [my idea] to have the rich pay more taxes. It’s to have the ultra-rich pay more,” he said on Bloomberg Television Friday. “It isn’t to have the rich pay more taxes. It’s to have the ultra-rich who are paying very low tax rates pay more taxes. There’s all kinds of ultra-rich who pay normal taxes, but there is a small segment–but you can find them very easily–who pay very low taxes, including me. People who make money with money only pay very low taxes at very high levels of income. … What I’m talking about would probably apply to 50,000 people out of 310 million in the country. [BBR/The Hill]

Let This Be a Lesson to All Billionaires That Give the Thumbs-up to a ‘Rule’ with Their Name Attached to It

The GOP is making a concerted effort to pressure billionaire investment guru Warren Buffett to release his tax returns to the public. Republicans say Buffett — the public face of Obama’s proposed “Buffett rule” to increase taxes on the wealthy — needs to reveal his finances if his views on tax rates are going to serve as the basis for Obama administration policy. “Will Warren Buffett release his tax returns so we can see why he should be the standard for tax policy?” Sen. John Cornyn (R-Texas) questioned in a tweet Thursday. “If he’s going to be the gold standard, so to speak, in terms of what our tax policy should be, yeah, let’s look at it [his tax returns],” Cornyn told ABC News. [OTM/The Hill]