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Buffett Challenges Murdoch To Release Tax Return

As part of his fight to raise taxes on the wealthy, billionaire Warren Buffett released details of his taxes in a letter to a Republican congressman. Last year, he earned $63 million and paid less than $7 million in federal income tax — making his effective tax rate about 17 percent. The Wall Street Journal urged Buffett to publish his complete return. To which Buffett responded that he would be happy to do so, the next morning, if its boss, Rupert Murdoch, would do the same.

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