Buffett plans to donate 85% of his wealth. From the Times.
"I love it when I'm around the country club, and I hear people talking
about the debilitating effects of a welfare society," he said. "At the
same time, they leave their kids a lifetime and beyond of food stamps.
Instead of having a welfare officer, they have a trust officer. And
instead of food stamps, they have stocks and bonds."
...His children, he said, were not at all disappointed not to be receiving the lion's share of his fortune.
"They've known all along my views on inherited wealth, and share them," he said in a news conference this afternoon. "They have money that most people would dream of. They're lucky, in that respect, when they selected their parents."
Buffett: a man of integrity. He offers one reason why the estate tax is the most reasonable tax the state has to protect itself against dynasties and monarchies.