Well, Isn't He Just Special
Of course, he supports an estate tax. It won't affect him.
His heirs, yes, but not him.
And, his heirs won't be all that affected. But, those who inherit a tad less than Buffet's estate can be substantially impacted by an estate tax. To the point where a family business or farm could be destroyed in order to pay the tax.
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Buffett backs U.S. estate tax and decries wealth gap
Wed Nov 14, 2007 11:33am EST
WASHINGTON (Reuters) - Billionaire Warren Buffett on Wednesday warned of widening U.S. income disparity and endorsed the estate tax as a check on wealth accumulation, while two senior lawmakers said they want the tax repealed.
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Isn't it great of him to also decry the "wealth gap?"
I wonder if he "decried" it while he was making his billions, or only now that he has them.
Does he decry it enough to spread his own wealth? Or, does he merely give lip service while ensuring that his $40+ billion earns more?
Does he live in a modest 3-bdrm, 2,000sf home with a Kia or maybe a Ford Aerostar in the two-car garage?
Does he put his money - a meaningful part of it, such that he would feel its loss - where his mouth is? Or, only enough to look good to the masses, but still get a profit?
posted by Cam @ 9:50 AM
3 Comments:
In this case he has. Buffett gave something like 85% of his wealth to the Gates Foundation and other charities last year. That still leaves him comfortable enough of course but you can't claim he hasn't put his money where his mouth is.
Actually to be technical he announced a plan to give away 85% of his wealth. The plan will take a while to play out. I suspect this was done to avoid devaluing the stock (the gifts are being made as shares of his stock). Still unless Berkshire Hathaway stock totally tanks it is the largest charitable donation in history. At current prices it is $37 billion.
Well, that is why I asked it, rather than stated it...
I didn't know, either way...
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