Warren Buffett Calls Trump Out, Issues Challenge

[DIGEST: Los Angeles Times, Fortune]

Billionaire Warren Buffett issued a challenge to Donald Trump while speaking at a campaign rally for Hillary Clinton in Omaha, Nebraska. Buffett called on Trump to release his tax returns, something Trump has refused to do, citing an ongoing audit by the IRS. Buffett cast doubt on Trump’s claim: “Now I’ve got news for him, I’m under audit too,” he told the crowd, “and I would be delighted to meet him anyplace, anytime, before the election. I’ll bring my tax return, he can bring his tax return… and let people ask us questions about the items that are on there.”

Trump’s refusal to release his returns, says Buffett, is an indication that Trump is “afraid,” noting that generally, you are “only afraid if you’ve got something to worry about.” Rally attendees cheered when Buffett declared that Trump is “not afraid because of the IRS, he’s afraid because of you.”

While there is no law that states that a presidential candidate must release his or her returns to the public, Trump is the only major presidential candidate since 1980 not to do so.

In fact, Trump’s refusal to comply inspired new legislation. In May, Senate Finance Committee Ranking Member Ron Wyden (D-Oregon) proposed a measure which would require all presidential candidates to release their tax returns. The measure, the Presidential Tax Transparency Act, would require

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