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Buffett calls for retention of estate tax
yahoo news ^ | june 26,2006

Posted on 06/26/2006 7:11:10 PM PDT by AmericanMade1776

NEW YORK (Reuters) - Billionaire Warren Buffett on Monday called for U.S. lawmakers to retain the estate tax, after announcing plans to leave more than $37 billion of his own fortune to charity, not his children.

Buffett spoke after agreeing to sign over roughly $30.7 billion of his $44 billion fortune to the Bill & Melinda Gates Foundation, run by the Microsoft Corp. chairman and his wife, and another $6.4 billion to foundations on behalf of his late wife Susan and his children.

"I would hate to see the estate tax gutted," Buffett said at a Manhattan news conference with the Gateses about his donation.

(Excerpt) Read more at news.yahoo.com ...


TOPICS: News/Current Events
KEYWORDS: billionaires; deathtax; taxes; warrenbuffett
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To: TChris

I like how he makes the comment just after he gives most of his billion dollar fortune away to charity to avoid paying estate taxes

typical do as I say not as I do liberal hypocrisy BS!


141 posted on 06/27/2006 3:06:43 PM PDT by edzo4
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To: M1911A1

Yes, the option to give money away sure beats having it confiscated from you. Then again, 100 years ago no one would be having this conversation since there were no tax deductions because there were no taxes. Gee, what a novel idea, keeping all of what you earn.


142 posted on 06/27/2006 3:10:20 PM PDT by Cobra64 (All we get are lame ideas from Republicans and lame criticism from dems about those lame ideas.)
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To: AmericanMade1776
Buffett is another one of the limousine liberals so overcome with self imposed guilt that he wants to spread it over everyone of the rest of us, much like Bill Gates. Buffett is the same fool who came to insert himself in California politics a few years ago, advising his candidate to advocate the repeal of Proposition 13, a measure enacted long ago to protect homeowners from state and local governments taxing us right out of our homes. That idea went over like a lead balloon and got him a one way ticket back home.

It's no surprise this privileged, silk sock, elitist jackass wants to retain the estate tax.

143 posted on 06/27/2006 3:22:19 PM PDT by Czar ( StillFedUptotheTeeth@Washington)
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To: linda_22003
The socioeconomic class envy I'm seeing on the Buffett threads is amazing.

I don't understand your point. If you are claiming that I am envious of Buffet, you couldn't be further from the truth. How am I envious if I want to decide how I choose to distribute whatever assets I accumulate during my life? I really resent buffet telling me that I should not have that choice - rather the government should be entitled to my assets after I die. Buffet claims that a level playing field (there's that phrase that all conservatives truly love) is what should be enforced by the government. There is your socioeconomic class envy.

Also I wanted to throw up today when I heard a quote attributed to Buffet, "that there are many ways to heaven and that this is just one of them." I would hope Mr. Buffet reads Luke 16:19-31. Lazarus is the one I expect to break bread with some day.
144 posted on 06/27/2006 4:31:03 PM PDT by tang-soo (Prophecy of the Seventy Weeks - Read Daniel Chapter 9)
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To: Myrddin

Since he likes the Estate tax, just make all money given to charities or trusts subject to the tax.

Easy. Then he would have to pay the tax out of the money that he didn't give.


145 posted on 06/27/2006 9:16:14 PM PDT by donmeaker (If the sky don't say "Surrender Dorothy" then my ex wife is out of town.)
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To: SupplySider

My kids haven't had a cold in the last year. Of course I don't send them to the local contagion exchange (aka Publik Screuls).


146 posted on 06/28/2006 9:45:01 PM PDT by donmeaker (If the sky don't say "Surrender Dorothy" then my ex wife is out of town.)
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To: Polybius

I would make all trusts subject to the same estate tax as money not in a trust.

Then the families of Gates, Buffet, Heinz ect. would complain, but even more the armies of accountants and trust lawyers who are the people who truly benefit from the current estate tax law.


147 posted on 06/28/2006 9:48:26 PM PDT by donmeaker (If the sky don't say "Surrender Dorothy" then my ex wife is out of town.)
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To: AmericanMade1776
Buffett just doesn't give a damn what the estate tax does to normal people, he can afford it and whatever smidgen of his estate goes to his heirs, that smidgen will be a fortune compared to what the heirs of others inherit after taxes.
148 posted on 06/28/2006 9:54:29 PM PDT by F.J. Mitchell (If our government won't support our troops, can it at least refrain from encouraging the enemy?)
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To: Polybius

Your workaholism doesn't seem to affect neagtively on your common sense and wonderfully informative posts. Thanks!


149 posted on 07/04/2006 8:17:10 AM PDT by bvw
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Comment #150 Removed by Moderator


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