Warren Buffett wants to keep the estate tax

By: PM
Published On: 6/27/2006 5:07:09 PM

"I would hate to see the estate tax gutted. It's in keeping with the idea of equality of opportunity in this country, not giving incredible head starts to certain people who were very selective about the womb from which they emerged.

I'm not an enthusiast for dynastic wealth when there are 6 billion people who have much poorer lives. I can't think of anything that's more counter to a democracy that dynastic wealth. The idea that you win the lottery the moment you're born: It just strikes me as outrageous."

http://www.perrspectives.com/blog/archives/000420.htm

Comments



Other estate tax proponents include (RayH - 6/27/2006 5:50:42 PM)
Thomas Paine, Andrew Carnegie, and Theodore Roosevelt. I believe that Bill Gates favors them also.


The families that are funding the assault on the estate tax... (Loudoun County Dem - 6/27/2006 6:56:30 PM)
...are not of the generation that built their wealth but the generations that are living off of that wealth. Among the families are the Waltons (Wal-Mart, they would save $32.7 billion if the estate tax were eliminated), Mars (Mars Candy, $11.7 billion), and Dorrance (Campbell Soup, $2.5 billion)

The people who build the fortunes generally favor the estate tax because they are aware of the support they had which allowed them to accumulate great wealth (Bill Gates, Warren Buffett).

Here is a good article on this:
http://www.cipa-apex.org/toomuch/articlenew2006/May1a.html

This amounts to an additional Trillion Dollar giveaway to the ultra rich.



Thanks (PM - 6/27/2006 9:59:10 PM)
That's a really good article on the subject.

I see the Club for Greed was involved.