Buffet and Gates, two of the wealthiest people alive, support the estate tax.
Billionaire Warren Buffett on Wednesday endorsed the estate tax as a check on wealth accumulation, while two senior U.S. senators said they want the tax repealed.
In fact, Buffet admits to the very thing that many here deny, that the gap between the super rich and the middle class is increasing by leaps and bounds. In such a society, there cannot be equal opportunity, nor can the middle class be sustained.
But Buffett, the second-richest man in America after Bill Gates, according to Forbes magazine, said recent tax law changes have tended to benefit people like him.
"Dynastic wealth, the enemy of a meritocracy, is on the rise. Equality of opportunity has been on the decline," Buffett said. "A progressive and meaningful estate tax is needed to curb the movement of a democracy toward plutocracy."
Buffett, the chief executive of Berkshire Hathaway (BRKa.N) questioned any effort to further cut taxes for the wealthy.
"Further shifting of this burden away from the super-rich is not the way to go," he said.
"In a country that prides itself on equality of opportunity, it's becoming anything but that as the gap between the super-rich and the middle class is widening."
“In politics, stupidity is not a handicap.” -Napoleon
it is not a loophole and a middle class person with capital gains is taxed less on those than his salary as well
the group with the highest effective income tax rate are those in the 250K to 5 million -ie the vast vast majority of the top one percent
they can afford it
it ingratiates them to people like you and it kills off their competition.
but Your idol Buffett has made sure the government won't get any of his estate
why do libs use Buffett as justification to jack up the taxes on those making 200K or more a year?
Your use of vulgar language, highly emotional words, unfounded accusations, popular demoralizing slang, general aggressive attitude etc., it honestly does not make you look very good. I think its that kind of close mindedness that creates problems for our country.
I would really like to know where all this hatred you have is coming from?
I also am wondering why you think anyone who is on welfare must be completely able to work yet does not do so? Has it ever occurred to you that welfare was created for those who have disabilities and or who experience inevitable hardship, who truly need help?
Just a few thoughts.