Posted on 11/13/2007 12:41:13 PM PST by republicpictures
Warren Buffett has said it before and he's likely to say it again to Congress on Wednesday: He thinks the heirs of the wealthy should be taxed on their inheritance.
Buffett, one of the world's richest men and now its biggest philanthropist, has been an outspoken critic of efforts to repeal the estate tax and is scheduled to testify at a Senate Finance Committee hearing on how current law affects estate tax planning.
[snip]"Without the estate tax, you in effect will have an aristocracy of wealth, which means you pass down the ability to command the resources of the nation based on heredity rather than merit," Buffett told the New York Times in 2001. "[Repeal would be like] choosing the 2020 Olympic team by picking the eldest sons of the gold-medal winners in the 2000 Olympics."
(Excerpt) Read more at money.cnn.com ...
No.
At the least, more like dishonest.
Reports I've read say that Warren owns highly profitable companies that sell life insurance products that helps protect estates from the inheritance taxes.
If the inheritance taxes were minimized or done away with, that would be one less highly profitable revenue stream for Warren.
If this means that estates of over 500 million dollars will be taxed I agree, if not take a hike Warren.
This idiot has complete control over his own money...Why doesn’t he concern himself with that and quit trying to make the rules for everyone else?
Warren Buffet is a moron.
He pays taxes throughout his entire life and doesn’t think that it is enough after retirement? I don’t care how rich or poor you are, when you go to your grave, the government shouldn’t be allowed to rob your grave.
The problem with estate taxes is the heirs can’t spend it and go from the richest family to bankrupt in one generation.
Even after that, what's left of your estate after it's taxed (at which time you'll be DEAD) will ensure that your children's children won't have to worry about where their next cheeseburger is coming from ...
so, Warren, give all you want of what's yours to the government ... but keep your hands out of my pocket.
obviously Warren wants to see his wealth squandered by government and UN bureaucrats instead of his heirs. Fine with me.
However, if someone else in his generation managed to acquire a million or two, s/he should be able to pass that on to his/her kin without Uncle getting most of it.
It’s been pretty well shown that if you didn’t have to work hard on your way to wealth and just have it given to you,
you won’t have it for long anyway.
Warren Buffett’s aim of destroying family wealth would be just as well served if we required rich folks to turn all their money in for cash and forced them to have a bonfire.
Would that work for him?
Or is he just looking to steal money from other people to finance more government largesse?
I’ll tell Buffet the same as I tell anyone that thinks it’s a good idea for someone to pay for a stranger’s health care.
Show me the receipts before you start touting how good an idea it is.
Why doesn’t he just leave his money to the government? After all, Hillary knows so much better than we do how to spend our money. Sheesh....
Amen! Buffett can just stroke a check to Government right now instead of waiting for his heirs to do the right thing.
If he genuinely feels that more of his [wealth] should be used by the government he can just write a check to the treasury.
Attn Dept G
Bureau Of the Public Debt
P. O. Box 2188Parkersburg, WV 26106-2188
Instead, Buffet hectors the rest of us about not paying enough in taxes. What Buffett is really complaining about is not his own tax bill but the tax bills of other people. And not necessarily the tax bill of billionaires.... It’s a dirty little secret that government at all levels goes to where the real money is: the middle class.
... What is it that a person with $10 billion can’t afford that a person with $40 billion can? That’s in worthwhile question that Warren Buffett may be able to answer for us.
But until then, I’m not taking the bellyaching of a billionaire who does not put his money where his mouth is. Let’s see Buffett stroke that check to the Government. He has the address.
Ding, ding, ding. We have a winner.
one thing is sure. When Warren passes on, he will pass on stupid.
If Warren wants taxes for the rich to go up, he should be a leader and give the government some of his money. Most sane people believe they can do a better job with their money than the government. Pay your taxes for defense, roads and the management of the government. All else should be taxpayer money and shouldn’t be touched just because somebody who has lived a good life thinks more should go to taxes.
He shouldn’t be speaking for others without showing what he can do himself.
Yes, around here we call them Kennedys.
Learjet liberalism is all about envy deflection, managing resentment to prevent a mob uprising. Warren is a smart man. He puts on a humble philanthropist persona but it's intended to keep the hate level of the masses below the tipping point. He intends for his progeny to do quite well after he's gone and plans very little for the government. His does not have his money where his mouth is.
OK, Warren, as long as we set the estate tax exemption at 5 billion or so.
So, are you saying that Warren is envying OUR money?
That might explain why he is such a hero to the class envy and resentment fomented by the mainstream media.
It’s not that they don’t want anybody falling behind; it’s that they don’t want anybody else getting ahead of themselves.
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