In his hands
"Buffett backs U.S. estate tax and decries wealth gap"
How fortunate for him, to have reached a time and position in life where he can put his money where his mouth is. Few people could singlehandedly do more to eliminate it than Warren could. I anxiously await the follow story informing us he has done so; look for it every day, several times daily, here on Pajama Guy.
posted by ColumbusGuy @ 10:46 AM
4 Comments:
Maybe he's been spending too much time in Margarita-ville
It is important to understand that Buffett has benefited more than any other individual in the world from the estate tax. Yes BENEFITED. His company is mostly made up of family run businesses that capitalized in the open market through Berkshire Hathaway as a way of avoiding estate taxes for their heirs as well as diversifying their family portfolio. It is craven of him to pine for the estate tax which will only further enrich his company.
So what? He actually believes it too. He has declined to leave excessive amounts of money to his kids -- sayin he would leave them enough to do whatever they wanted, but not enough to do nothing. (I've heard the amount per kid would be close to, but less than, $1 million.) He believes it is bad for people to inherit obscene amounts of money, and I can think of a few wealth celebrity kids that back him up. He has donated a massive amount to the Gates Foundation.
What more could he do to "put his money where his mouth is?"
Buffet can do what he wants with his money. What's troubling is he wants to tell everyone else what they can do with their money.
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