warren buffett: the timing was affected by when susie died. i had to make a decision of the best way to make use of the claim checks. i wanted to come up with a rational decision as the most useful way to get the money to society. she saw every person as individually important. if there were 6 billion people on this planet, everyone deserved the same chance in life and chance for health. i am not as charitable as a person who puts $10 and a collection plate to give up a christmas present for a child. i hope that the pledge -- i would love to figure out ways to have helped that hit a broader area of society. we originally worked on the forbes 400 to get really wealthy people to focus on what can be done with their wealth and pledge what they will do with it. the group we are calling on has $1 billion, if they give half, what can you do with $500 million, if you need another million dollars beyond $500 million, you have to explain it to me. >> that gives me a feeling of elevation, this is a man who could have done nothing at all for the public g

warren buffett: the timing was affected by when susie died. i had to make a decision of the best way to make use of the claim checks. i wanted to come up with a rational decision as the most useful way to get the money to society. she saw every person as individually important. if there were 6 billion people on this planet, everyone deserved the same chance in life and chance for health. i am not as charitable as a person who puts $10 and a collection plate to give up a christmas present for a child. i hope that the pledge -- i would love to figure out ways to hit a broader area of society. we originally worked on the forbes 400 to get really wealthy people to focus on what can be done with their wealth and pledge what they will do with it. the group we are calling on has $1 billion, if they give half, what can you do with $500 million, if you need another million dollars beyond $500 million, you have to explain it to me. >> that gives me a feeling of elevation, this is a man who could have done nothing at all for the public good. he is under

warren buffett: the timing was affected by when susie died. i had to make a decision of the best way to make use of the laim checks. i wanted to come up with a rational decision as the most useful way to get the money to society. she saw every person as individually important. if there were 6 billion people on this planet, everyone deserved the same chance in life and chance for health. i am not as charitable as a person who puts $10 and a collection plate to give up a christmas present for a child. i hope that the pledge -- i would love to figure out ways to have helped that hit a broader area of society. we originally worked on the forbes 400 to get really wealthy people to focus on what can be done with their wealth and pledge what they will do with t. it is very easy for them to do it. the group we are calling on has $1 billion, if they give half, what can you do with $500 million, if you need another million dollars beyond $500 million, you have to explain it to me. >> that gives me a feeling of elevation, this is a man who could have don

warren buffett: i could take all my money and do what they used to do in egypt. i could use that money to build the biggest tomb ever built. we could have it outside omaha and i could literally get 50,000 guys to put them in loin cloths and haul granite around and make them forget all about egypt in 10 years. the net product of everything i had done in my life would be the world's biggest tomb and 1000 years from now people would come to a lot to see my tomb. it strikes me as crazy. even in modified versions of it, i do not get it. michael bloomberg: a cynic would say you cannot take it with you. although i remember the cartoon with the family with vultures looking down on this conjurer on his deathbed and he says, i know i cannot take it with me, but i can take the access code. [laughter] terry: that's true. how did you feel the date you gave 99.9% of your wealth to philanthropy? warren buffett: the timing was in terms of making a pledge to philanthropy was affected by when susie died. when she died first, i had to make a decision of the best way to make use of

warren buffett: the timing was affected by quinn suzy died. -- when suzy died. i had to make a decision of the use of the make claim checks. i wanted to come up with a rational decision as the most useful way to get the money to society. every --very person as as individually important. if there were 6 billion people on this planet, everyone deserved the same chance in life and chance for hep. -- chance for health i am not. as herbal as somebody who -- as charitable who puts $10 and a collection plate to give up a christmas present for a child. pledge -- ithe would love to figure out ways to have that hit a broader area of society. we originally worked on the fork 400 to get really wealthy people to focus on what can be done with their wealth and pledge what they will do with it. the group we are calling on has $1 billion, if they give half, what can you do with $500 million, if you need another million dollars behind -- beyond $500 million, you have to explain it to me. >> that gives me a feeling of elevation, this is a man who could have done nothing at all fo

today, warren buffett put out a statement. for starters, warren buffett is still a billionaire. [applause] and you know, he put out a statement and it said this: i have to say, this is warren buffett talking, i pay federal income tax every year since 1944. when i was 13 years old. he says i have copies of all 72 of my returns and non-uses a carry forward which was the gimmick trump used to avoid paying taxes and i love this, his last paragraph area finally , i have been audited by the irs multiple times and am currently being audited. i have no problems releasing my tax information while under audit. [applause] then he concludes by saying, neither would mister trump and he would have no legal problem so if you're going to call out warren buffett, you'd better be prepared for him telling some good old fashioned nebraska honest facts about what the truth really is. and the other thing about warren buffett is he agrees with me. rich people ought to be paying more federal income taxes to pay their fair share for our country. also last night, donald had no answer when confronted by t

. >>> also ahead, billionaire warren buffett is weighing in. what he thinks about trump last night admitted avoiding paying federal income taxes for years. s to be taken care of. home, car, life insurance obviously, ohhh... but with added touches you can't get everywhere else, like claim free rewards... or safe driving bonus checks. even a claim satisfaction guaranteeeeeeeeeee! in means protection plus unique extras only from an expert allstate agent. it's good to be in, good hands. >>> we all watched the debate. i don't know highway you would characterize that. perhaps the best part was the final question posed by one undecided voter. everyone in that room wanted to hear the answer. >> my question to both of you is, regardless of the current rhetoric, would either of you name one positive thing that you respect in one another. [ applause ] >> mr. trump, would you like to go first? well, i certainly will because i think that's a very fair and important question. i respect his children. his children are incredibly able and devoted, and i think t

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a different one, warren buffett. he is now calling donald trump's bluff after this. >> i absolutely used it, and so did warren buffett and so diz george soros, and so did many of the other people that hillary is getting money from. >> you heard it. donald trump claiming warren buffett used the same kind of tax deductions trump did, avoiding paying federal taxes. well, warren buffett responded by releasing his own tax returns, despite mr. buffett himself being under audit, exactly what donald trump is. he's saying he paid federal income tax every year since 1944. and he reiterated his call for trump to release his taxes. joining me now is someone who knows quite a bit about this, tim o'brien. he's the author of "trump nation, the art of being donald trump." over the summer, warren buffett said, hey, donald trump, release your taxes. clearly, we know donald didn't. anyway shot you think now he will? >> no, there's no way he's going to release his taxes. why would he? it's going to expose how robust his businesses are,

. >>> donald trump talke the tax and warren buffett. warren buffett had something t say about that. i'm so proud of . we thank you. get your free credit scorecard at discover.com. even if you're not a customer. anyone with type 2 diabetes knows how it feels to see your numbers go up, despite your best efforts. but what if you could turn things around? what if you could... love your numbers? discover once-daily invokana?. that works to lower a1c. a pill taken just once in the morning, invokana? is used along with diet and exercise to significantly lower blood sugar in adults with type 2 diabetes. in fact, it's been proven to be more effective at lowering a1c than januvia. invokana? works around the clock by reducing the amount of sugar allowed back into the body, and sending some sugar out through the process of urination. and while it's not for lowering systolic blood pressure help you with both. invokana? can cause important side effects, including dehydration, which may cause you to feel dizzy, faint, lightheade or weak, upon standing. other side effects may include kidney problem

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[cheers and applause] last night he tried to drag and warren buffett. that was like maybe i never paid income-tax the today warned but that plan out statement for starters, warren buffett is a real billionaire. [cheers and applause] and he pled out a statement that centcom i have paid federal income-tax every year since 1944. when i was 13 years old. he says i have copies of all 72 of my returns and none of them use the kerrey for word that is the gimmick that trump uses an alumnus finally i have been audited by the ira's multiple times and in currently being audited. i have no problem to release my tax information while under audit. [cheers and applause] and then he concludes by saying at least he would have no legal problem. so you are going to call out warren buffett so be prepared for some good old-fashioned nebraska honest facts about what the truth really is. and he agrees with me. they should be paying more to paid airfare share for our country. also last night pdf pdf that he is then buying cheap chinese steel for construction projects. instead

. >> i know you talked to a source close to warren buffett. was he watching the debate and heard his name and thought what? and my source said it was just because it was factually incorrect what was being stated. and he felt the need, first thing monday morning, to set the record straight, which is why he released a summary of his 2014 tax return and just speld out the facts and the numbers and debunked any idea that he had taken some kind of big loss to not pay taxes. >> he basically made a point that he had not used a carry forward for his personal income taxes. >> correct. and specifically my source he never has, you know in the 73 year he's been filing taxes. >> but the type of the deduction that donald trump is being criticized for is called a net operating loss carry forward. that has been voted into law, supported by both democrats and republicans, arguably no one used it quite to the extent perhaps that donald trump has, but this had bipartisan support in the past and many businesses, personal people use it, correct? >> totally legal.

warren buffett took massive deduction. soros, a friend of hers took a massive many more people who gave her money. >> warren buffett said, quote, donald trump has not seen my income tax returns and i've wade federal knicks tax ever year since 1944 when i was 13. she wants to point out she supports hillary clinton and so does warren buffett. >> was he watching and heard his >> he was very annoyed. very. my source said just because it was fact really incorrect what was being stated. he felt the need first thing monday morning to set the record straight which is why he released a summary of his 2014 tax return which spelled out the facts and numbers and debunked any idea that he had taken a loss to not pay taxes. >> basically used the point that he had not used the carry-forward for his personal >> correct. specifically, my source says he never has, in the 73 years he's been filing taxes. >> but the type of deduction that donald trump is being criticized for is call a net loss-carry forward. it's had bipartisan support in the

he said george soros and warren buffett used the laws as well. hillary clinton making news saying she didn't recall joking that she would like to drone wikileaks's julian assange. a lot of revealing stuff. to help clinton just said, let's bring in trump economic adviser peter navarro and former senator scott brown. senator, what did you make about what donald trump was aki about the tax laws and saying george soros and warren buffett he's taking advantage of the tax code available to every american. every business person trying to make a difference, trying to create jobs, go out on a limb and help the economy, sometimes it doesn't work out and our tax code allows you to take losses and carry them forward. so he's right, before i got there, emac, they had a supermajority and they had a president who was charge, president obama. they could have done all the wonderful things with the tax code and they did zero. it's another way to beat donald trump into doing and saying other things and get offmessage and i don't think it's going to work. liz: peter

i know i've talked to a to yourself that was close to warren buffett. was he watching the tee pay tded >> he was very annoyed. very. my source said just because it was fact really incorrect what was being stated. he felt the need first thing monday morning to set the record straight which is why he released a summary of his 2014 tax return which spelled out the facts and numbers and debunked any idea that he had taken a loss to not pay taxes. >> basically used the point that he had not used the carry-forward for his personal income taxes? >> correct. never has, in the 73 years he's been filing taxes. >> but the type of deduction that donald trump is being criticized for is called a net loss-carry forward. it's had bipartisan support in the past and many businesses and personal people you know, correct? >> totally legal. again, we don't know how many people have used it in this way. so that is true. it's very simple. he took a big loss. and the loss says that you can use that loss to offset future income. so it's a very simple math. >> mellody, just a mi

and so did warren buffett. so did george soros. and many of the other people that hillary is getting money from. now, i won't mention their names because they're rich. but they're not famous. we won't make them famous. you have avoided paying personal federal income taxes? >> i pay tax. i pay federal tax too. >> the cbs "overnight news" will be right back. if you're taking prescription medications, does your mouth often feel dry? a dry mouth can cause cavities and bad breath. over 400 medications can cause a dry mouth. that's why there's biotene. biotene can provide soothing dry mouth relief. and it keeps your mouth refreshed too. remember while your medication is doing you good, a dry mouth isn't. biotene, for people who suffer from dry mouth symptoms. ? music ? a stimulating gel that takes her pleasure to new heights. k-y intense. today you can do everything in just one click, even keep your toilet clean and fresh. introducing lysol click gel. click it in to enjoy clean freshness with every flush. lysol. start healthing. ? yeah,

and so did warren buffett. so did george soros. and many of the other people from. now, i won't mention their names, buzz they're rich. but they're not famous. we won't make them famous. >> can you same how many years you have avoided paying personal pay federal tax too.? >> the cbs "overnight news" will be right back. ?living well? rise above joint discomfort with move free ultra's triple action joint support for improved mobility and flexibility, and 20% better comfort from one tiny, mighty pill... today you can do everything in just one click, even keep your toilet clean and fresh. introducing lysol click gel. click it in to enjoy clean freshness with every flush. lysol. start healthing. ? yeah, click ? >>> the syrian regime renewed assault on aleppo after the u.n. security council failed to reach an agreement on a truce to save the city. about a quarter million that includes one young girl sending out pleas for help on the internet. elizabeth palmer reports. >> good morning from aleppo. we are still alive. >> reporter: that's a

you spoke with warren buffett. liz: then he spoke over at cnbc. >> he didn't say much, he basically confirmed my story he had a conversation with stumpf where he expresses displeasure at the scandal. and how he is handling it. he hasn't really said much about this because it is, he afraid it would hurt her. while he is not saying much about it, he is not saying much about it -- liz: he is raising so much money for her. >> you know, i think they both get cut a break from most of the media. i like buffett. you like buffett. hillary clinton i couldn't, i have no really animus towards her but this is big-time hypocrisy. both need to be called on the carpet by the media bit. we're trying anyway. liz: charlie. >> thank you. i won't curse. liz: keep it clean. >> holy moly. liz: by the way, wells fargo. not just a campaign topic. banks dealings and problems people are calling shady are causing serious real world harm. we have one man, one customer, who got extra wells fargo account that he never requested. hell hath no fur

and so did warren buffett. so did george soros. and many of the other people that hillary is getting money from. now, i won't mention their names, buzz they're rich. but they're not famous. >> can you same how many years you have avoided paying personal federal income taxes? >> i pay tax. i pay federal tax too. >>> the syrian regime renewed assault on aleppo after the u.n. security council failed to reach an agreement on a truce to save the city. civilians are under siege. that includes one young girl sending out pleas for help on the internet. elizabeth palmer reports. >> good morning from aleppo. we are still alive. >> reporter: a small victory message from this boy after a heavy night of bombing in eastern aleppo. since the 24th of september, she has been sending out microreports on twitter of a life in a city under attack. here its another one. wincing as bombs explode. the family with their three children live inside opposition controlled aleppo. we managed to get in touch with bana and her mother fatimah on skype. there you a

and so did warren buffett. so did george soros. and many of the other people that hillary is getting money from. now, i won't mention their names, buzz they're rich. but they're not famous. we won't make them famous. >> can you same how many years you have avoided paying personal federal income taxes? >> i pay tax. i pay federal tax too. >> the cbs "overnight news" will be right back. ♪living well rise above joint discomfort with move free ultra's triple action joint support for improved mobility and flexibility, and 20% better comfort from one tiny, mighty pill... get move free ultra, and enjoy living well. today you can do everything in just one click, even keep your toilet clean and fresh. introducing lysol click gel. click it in to enjoy clean freshness with every flush. lysol. start healthing. ♪ yeah, click >>> the syrian regime renewed assault on aleppo after the u.n. security council failed to reach an agreement on a truce to save the city. about a quarter million civilians are under siege. that includes one young girl s

and so did warren buffett. so did george soros. and many of the other people from. now, i won't mention their names, buzz they're rich. but they're not famous. we won't make them famous. >> can you same how many years you have avoided paying personal federal income taxes? >> i pay tax. i pay federal tax too. >> the cbs "overnight news" will be right back. ?living well? rise above joint discomfort with move free ultra's triple action joint support for improved mobility and flexibility, and 20% better comfort from one tiny, mighty pill... today you can do everything in just one click, even keep your toilet clean and fresh. introducing lysol click gel. click it in to enjoy clean freshness with every flush. lysol. start healthing. ? yeah, click ? >>> the syrian regime renewed assault on aleppo after the u.n. security council failed to reach an agreement on a truce to save the city. about a quarter million that includes one young girl sending out pleas for help on the internet. elizabeth palmer reports. >> good morning from aleppo. we a

and so did warren buffett. so did george soros. from. now, i won't mention their names, because they're rich. but they're not famous. we won't make them famous. >> can you same how many years you have avoided paying personal federal income taxes? >> i pay tax. i pay federal tax too. >> the cbs "overnight news" will be right back. the roses are blooming in herbal essences hair is delightfully fragranced with notes of moroccan rose and the freshness of springtime unforgettable, wherever you go the scents you can't forget... from herbal essences, blooming now! ? music ? extraordinary starts here. new k-y intense. a stimulating gel that takes her pleasure to new heights. k-y intense. yes. you know, that reminds me of geico's 97% customer satisfaction rating. 97%? helped by geico's fast and friendly claims service. huh... oh yeah, baby. geico's as fast and friendly as it gets. woo! geico. expect great savings and a whole lot more. ?living well? rise above joint discomfort with move free ultra's triple action joint support and 20% better

nicole: well, move over warren buffett. amazon ceo jeff basis on the second richest person in the united states according to the "forbes" 400 list. $20 billion to the not worth putting it at a total of $67 billion pushed berkshire hathaway ceo warren affected third is for the total net worth of 65.5 alien to buffett held the number two spot for 15 years. take a look at the rest. that is cofounder and intimate top of the list $81 billion. facebook and oracle their ellison round out the top five and fell out of the top three for the first time since 2007. this current not worth 49.3 billion at amazon has a thousand dollar price target. lauren: most of those guys give most of their money to charity. the latest in spores. the pressure building rapidly on the chicago cubs down two games to one to the dodgers in the national league championship series. allowing just two hits. the cubs have now climbed 18 innings without going around. the dodgers on the other hand with two homeruns including game four tonight north of the border t

and so did warren buffett. so did george soros. and many of the other people names, buzz they're rich. but they're not famous. we won't make them famous. >> can you same how many years you have avoided paying personal federal income taxes? >> i pay tax. i pay federal tax too. >> the cbs "overnight news" will be right back. ?living well? rise above joint discomfort with move free ultra's triple action joint support for improved mobility and flexibility, and 20% better comfort from one tiny, mighty pill... today you can do everything in just one click, even keep your toilet clean and fresh. introducing lysol click gel. click it in to enjoy clean freshness with every flush. lysol. start healthing. ? yeah, click ? >>> the syrian regime renewed assault on aleppo after the u.n. security council failed to reach an agreement on a truce to save the city. about a quarter million that includes one young girl sending out pleas for help on the internet. elizabeth palmer reports. >> good morning from aleppo. we are still alive. >> reporter: that

how warren buffett is responding to donald trump's accusations this morning. >>> and we have a big problem down under. there's a controversy brewing involving same-sex marriage. >> and massages, facials and more for a great price. sheriff paul babeu was headmaster at desisto school in massachusetts. a boarding school rife with abuse. a lot of things went down that probably shouldn't have. this isn't about abuse or neglect, because none of this was found. except these records show the state found it, students and parents testified about it, and a judge ordered it to stop. the cornering, the sheeting, i didn't know how to live and function as a normal human being. take a look at dobson and u.s. 60. just seconds ago they cleared that crash we just showed you. now you can use dobson with no problems there. we'll also head to the west valley, closer look at the desert drive times coming up. >>> a battle is brewing this morning between warren buffett, firing back at donald trump for accusations the presidential nominee made he claimed buffett, who supports hillary clinton, used tax laws just lik

so did warren buffett and george

and so did warren buffett. so did george soros. and many of the other people that hillary is getting money from. now, i won't mention their names, buzz they're rich. >> can you same how many years you have avoided paying personal federal income taxes? >> i pay tax. i pay federal tax too. >> the cbs "overnight news" will >>> the syrian regime renewed assault on aleppo after the u.n. security council failed to reach an agreement on a truce to save vilians are under siege. that includes one young girl sending out pleas for help on the internet. elizabeth palmer reports. >> good morning from alep. we are still alive. >> reporter: a small victory message from this boy after a heavy night of bombing in eastern aleppo. since the 24th of september, she has been sending out microreports on twitter of a life in a city under attack. here its another on wincing as bombs explode. the family with their three children live inside opposition controlled aleppo. we managed to get in touch with bana and her mother fatimah on skype. there you are. let

how can it be warren buffett's secretary pay as higher tax rate than warren buffett himself? it is effective. harris: doesn't want to talk about her own companies. there are tax people not all named swiftie, taxed with doing, finding low threshold for all of them. this issue donald trump has been missing opportunity to grow beyond his base. this is one of those issues you can really make compelling argument for how, okay, so i didn't pay taxes but here is what would happen if you changed the laws and how some of that money would have gone to different things that really need it like military and so forth. he can answer some of the criticism from the independent voters and at same time grow the tent a little bit bigger saying, look i know exactly where to go in there and mess with it. kennedy: simplify the tax code. overpaying taxes, no offense, bill, it is not virtuous you're not getting great return on your investment. sandra: harris was so disturbed by the lack of handshake to start the debate. harris: you and i, we hit elbows we hug, do whatever. they didn't even shake han

today, warren buffett put out a statement . for starters, warren buffett is still a billionaire. [applause] and you know, he put out a statement and it said this: i have to say, this is warren buffett talking, i pay federal income tax every year since 1944. when i was 13 years old. he says i have copies of all 72 of my returns and non-uses a carry forward which was the gimmick trump used to avoid paying taxes and i love this, his last paragraph area finally, i have been audited by the irs multiple times and am currently being audited i have no problems releasing my tax information while under audit . [applause] then he concludes by saying, neither would mister trump and he would have no legal problem so if you're going to call out warren buffett, you'd better be prepared for him telling some good old fashioned nebraska honest facts about what the truth really is. and the other thing about warren buffett is he agrees with me. rich people ought to be paying more federal income taxes to pay their fair share for our country. also last night, donald had no answer when confronted by th

and so did warren buffett. so did george soros. and many of the other people that hillary is getting money from. now, i won't mention their names, buzz they're rich. but they're not famous. we won't make them famous. >> can you same how many years you have avoided paying personal federal income taxes? >> i pay tax. i pay federal tax too. >> the cbs "overnight news" will ♪living well rise above joint discomfort with move free ultra's triple action joint support for improved mobility and flexibility, and 20% better comfort from one tiny, mighty pill... get move free ultra, and enjoy living well. what? is he gone?? finally, i thought he'd never leave... tv character: why are you texting my man at 2 a.m.? no... if you want someone to leave you alone, you pretend like you're sleeping. it's what you do. if you want to save fifteen percent or more on car insurance, you switch to geico. it's what you do. tv character: taking selfies in the kitchen does not make you a model. and my cold medicines' ugh, iwearing off.chtime i'm dragging. ye

that's because warren buffett chooses to categorize his income as investment. and so it's a different structure. you know, one thing you don't hear any of these guys talk about is a wealth tax. i mean, really, if you think about it, right, income and wealth are two very, very different things. and you -- if you really wanted to go after the buffetts of the world, you might think about going after wealth as opposed to income. ashley webster, it always perplexes me that buffett likes to go on ability how his secretary pays more -- >> i know. trish: he could certainly change that if he wanted to. >> he could at any time. why don't you write a nice big, fat check be you're feeling so guilty. i always felt -- okay, don't get me started. you're absolutely right, he could always change it if he wanted to. and the fact, look, there are many billionaires. he used exactly the same tactic as donald trump. in fact, anybody. it's not against the law. of course you can do it. trish: right. maybe the answer is we just need to change the laws -- >> yeah, okay. trish: -- simpli

>> warren buffett's number. 40%. i'm happy to give 40% of my income to the government. i think that sounds like a reasonable number to me. >> is that reasonable to you? >> okay, let me tell you -- >> you're deflecting. >> i'm going to answer. but after i was 70 years old, 70 to 88, 18 years, i have paid $675 million in taxes. okay. and that's it, that's a fact, i have paid that. but i haven't paid any taxes in the last three years. why? because i had losses in '08 and '09 and i'm still working off my losses. >> you want to fix america's problem? term limits. >> do what? >> term limits. >> yes. >> let me tell you why. you want to know the real disgrace about the taxes i pay. i get $4,000 a month from government. that is an absolute disgrace. >> you're talking about social security. >> i shouldn't get it. but the politicses haven't got the guts to say to me, you don't get it. you know why? because they want to get re-elected. if hillary thinks if she wins -- let's say she gets 52%. ask yourself if trump was as bad as you say he is, what's the message him getting 48%. >> w

i have not had one conversation with warren buffett. >> because warren buffett in 1991, probably did the best job on behalf of corporate america. do you remember what he said at that time? mr. stumpf: i have read a lot of his things. i figure it is something about, i would rather make less money and something about integrity, but go ahead and read it to me. i do not remember the testimony. >> i will paraphrase it. he said, he wanted every employee to be his or her own compliance officer, and he wanted every employee when they came to work to think about the actions they took on behalf of customers that they could read in their own home town newspaper written by critical journalist. he summarized, and i think you need to summarize this if you're going to be successful in this endeavor. he made this quote which i think people have quoted forced 25 years, lose money for the firm and i will be understanding. lose a shred of reputation for the firm, and i will be ruthless. mr. stumpf: that is what i was trying to refer to. i agree with that. >> well, that is where we are. i agree with my

and billionaire warren buffett has called donald trump's bluff. during sunday's debate, accused him of not paying taxes but buffet has shut him down providing proof. we'll have the details and why trump, of course, has not released his returns and doesn't plan to. if you own a samsung galaxy 7, the strong warning. latest on the global smartphone recall under effect. what is succes it a professor who never stops being a udent? ist a caregiver determined to take care of her own? or is it a lifetime of work that blazes the path to your passions? your personal success takes a financial partner who values it asuch as you do. learn more at tiaa.org i'm one unlucky guy. the chance of being involved in a robbery is 1 in 757. the chances of being struck by lightning... [thunder] [coughs] 1 in 750,000. [ding] woman on p.a.: please fasten your seatbelts for unexpected turbulence. announcer: the chances of being a victim in an airline crash, 1 in 29 million. hey could i get some peanuts? the chances of bng involved in a car crash are far greater than lightnin

warren buffett saved his tax returns for 72 years? when he was a kid? >> i have my first tax return. >> what is wrong with you? >> i was 14. >> i have mine. >>> the chicago cubs one win away from advancing to the national league championship series. they blew their chance last night. they dropped a game to the dodgers. heroic performance by the dodgers. sorry. giants. >> i'm confused enough. >> coy wire with the bleacher report. that's next. what's going on here? i'm val, the orange money retirement squirrel from voya. we're putting away acorns. you know, to show the importance of saving for the future. so you're sort of like a spokes person? more of a spokes metaphor. get organized at voya.com. and now...i'm in bristol, inia. tennessee. on this side of the road is virginia... and on this side it's tennessee. no matter which state in the country you live in, you could save hundreds on car insurance by switching to geico. look, i'm in virginia... i'm in tennessee... virginia... tennessee... and now i'm in virginessee. see how much you could save on car i

it is warren buffett. warren buffett is the billionaire investor, one of her biggest supporters. you heard. that a lot of warren buffett. his name came up during the hearing i was at. you've heard very little about him on this issue. you would expect the secretary of state and may be hillary clinton to go and mention that warren buffett, her friend the big liberal that he is is a big shareholder of wells fargo and she's going right to the biggest shareholder in getting him to change the arbitration clause. but she didn't say that. i think there's a lot of liberal hypocrisy. yes there's some bad stuff going on right now. you could be hillary clinton used this issue as a political issue for class warfare or whatever. call it straight. your guy. warren buffett right now is raising money for hillary clinton. for while i know, after hillary clinton made those remarks, shares of wells fargo went down. he might've went back to my son. i don't know. we do have a call to see if he did that or what he stood with his position. neil: is that it's going to talk about this after the election?

david: warren buffett called you and said, by the way, i am going to give you most of my money. or you surprised? -- were you surprised? mr. gates: that was a complete surprise because warren is the best investor and has built this unbelievable company. i was learning so much from them, but his wealth was devoted to a foundation that his wife was in charge of, and so tragically she passed away and so then he had to think that his initial plan would make sense and much to my surprise, he decided that part of the wealth, a little over 80% would come to our foundation, so it was a huge honor, a huge responsibility and an incredible thing because it let us reach our level of ambition. by most definitions, the most generous gift of all time. david: you started with warren be giving pledge. what is that about? mr. gates: warren was brainstorming with us about how philanthropists figure out how to do, how could they kind of help share with each other without giving up the diversity of what they did? he got us to do some dinners of people that were already doing amazing philanthropy and

david: warren buffett called you and said, by the way, i am going to give you most of my money. were you surprised? mr. gates: that was a complete surprise because warren is the best investor and has built this unbelievable company. i was learning so much from them, but his wealth was devoted to a foundation that his wife was in charge of, and so tragically she passed away and so then he had to think that his initial plan would make sense and much to my surprise, he decided that part of the wealth, a little over 80% would come to our foundation, so it was a huge honor, a huge responsibility and honor, a huge responsibility and an incredible thing because it let us reach our level of ambition. david: you started with warren be giving pledge. what is that about? mr. gates: warren was brainstorming with us about how philanthropists figure out how to do, how could they kind of help share with each other without giving up the diversity of what they did? he got us to do some dinners of people that were already doing amazing philanthropy and talk about how they built staff and kicked c

david: warren buffett called you and said, by the way, i am going to give you most of my money. or you surprised? -- were you surprised? mr. gates: that was a complete surprise because warren is the best investor and has built this unbelievable company. i was learning so much from them, but his wealth was devoted to a foundation that his wife was in charge of, and so tragically she passed away and so then he had to think that his initial plan would make sense and much to my surprise, he decided that part of the wealth, a little over 80% would come to our foundation, so it was a huge honor, a huge responsibility and an incredible thing because it let us reach our level of ambition. david: you started with warren be giving pledge. what is that about? mr. gates: warren was brainstorming with us about how philanthropists figure out how to do, how could they kind of help share with each other without giving up the diversity of what they did? he got us to do some dinners of people that were already doing amazing philanthropy and talk about how they built staff and kicked causes. not t

david: when your mother first said, i would like to come and have dinner with me with warren buffett. you did not seem that interested. why was that? mr. gates: warren, i thought that was somebody who bought and sold securities. that is not curing disease or a cool piece of software. the idea of looking at volume curves, it does not invent anything, so i thought my way of looking at the world, what i wanted to figure out in the way he looked at it, there would not be much intersection. that was why it was so shocking when i met him, he was the first person to really ask me about software and software pricing able towasn't ibm overwhelm microsoft and what was going to happen in terms of how software changed the world? he let me ask him about, why are you investing in certain industries and why are more banks profitable than others? he was a broad systems thinker, so it started a conversation that has been fun and enriching and in incredible friendship that was completely unexpected. david: he taught you how to play bridge. mr. gates: i already knew how to play bridge but our family had

david: warren buffett called you and said, by the way, i am going to give you most of my money. or you surprised? -- were you surprised? mr. gates: that was a complete warren isbecause mor the best investor and has built this unbelievable company. i was learning so much from them, but his wealth was devoted to a foundation that his wife was in charge of, and so tragically she passed away and so then he had to think that his initial plan would make sense and much to my surprise, he decided that part of the wealth, a little over 80% would come to it was a huge, so honor, a huge responsibility and an incredible thing because it let us reach our level of ambition. warrenyou started with be giving pledge. what is that about? mr. gates: warren was brainstorming with us about how philanthropists figure out how , how could they kind of help share with each other up the diversity of what they did? he got us to do some dinners of people that were already doing amazing philanthropy and talk andt how they built staff kicked causes. not that they would get to the same things, but that the qu

>> well, when we talked about warren buffett what we said is warren buffett was famous for making the comment that he is actually in a lower tax bracket than his secretary. well, there's a reason for that. it's because warren buffett isn't paying taxes based upon be ordinary income. all of warren buffett's income is being taxed as capital gains. now, that's a loophole that he's taking advantage of. and you could make an argument to say, well, listen, that's a huge tax loophole. he's one of the richest men in the country. why aren't we talking about that as really problem with the u.s. tax code? but we're not. we're talking about donald trump. he's a light thing rod for this stuff -- lightning rod for this stuff. neil: but you were stressing as offensive as some might find this at sort of a gut level, it's all perfectly legal. are there any special exemptions or allowances all the more for the real estate or casino industries that others don't enjoy or what? >> well, on this specific issue, neil, we're talking about net operating losses. and i want to expand on that nor a moment -- for

this is a stain on warren buffett because he's on the board. he knew about this. this was going on. this was happening since 2013, and for him to allow stumpf to blame this on employees, when stumpf's responsible, when the board knew what was going on, they knew and they were ripping off consumers for a long period of time. opening these bogus accounts, fake accounts, and allowing stumpf to say, well, yeah, i may have known about it. well, guess what? your paid big bucks to be accountable. you're paid money to do your job and not rip people off. you're taking this great brand. wells fargo was a great brand and you destroyed pieces of it. the trust, with the american public, with the world. it's not right. he should claw back, all this money should come back. liz: do you think he should give the money, it was $200 million and she claws back 41. do you think he should give back more? >> i'm not a shareholder of wells fargo, but, look, i think accountability includes consequences, and one of the consequences, if you fail to perform is that you should fail to collect the full reward for