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.
maybe someone can forward this to Warren....http://www.standfirminfaith.com/index.php/site/article/525/
Posted by: Heidi | Jun 28, 2006 at 08:25 PM
Warren an atheist and Mr. Gate an agnostic, what does it say about us penny-pinching theists?
Posted by: Bro. Bartleby | Jun 29, 2006 at 09:47 PM
It is interesting, though, for someone who is so in favor of the estate tax that he is using a method to avoid it for most of his wealth.
On the other hand, there will still be quite a bit left over for the government to take. I think the 15% of his estate he is leaving to his children is currently worth about $6,000,000,000.
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