Warren Buffett has answered the Wall Street Journal's snarky remarks about his tax returns. Today in an interview with Fortune Magazine editor Carol Loomis, he challenged Rupert Murdoch to release his tax returns to the press. Buffett said he'd release his at the same time. Here's the transcript, via CNBC:

CAROL LOOMIS: Well, one of the centers of criticism has been the Wall Street Journal's editorial page. WARREN BUFFETT: Oh, really? (Laughter.) CAROL LOOMIS: And they've asked you to give them your income tax statement. WARREN BUFFETT: Yeah. CAROL LOOMIS: What do you think about that? WARREN BUFFETT: Well, 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. (Applause.) CAROL LOOMIS: We like it. We like it. (Laughter.) WARREN BUFFETT: I'm ready tomorrow morning.

So far, crickets from Rupert. But then, he may be preoccupied with how he's going to pull his tail out of Rupertgate's fire.

I wouldn't hold your breath on those tax returns, but maybe it'll shut up the whiners over at the Wall Street Journal for awhile, and it's always amusing to watch a verbal game of chicken between two billionaires.