- Moderator
- #21
"There are going to be 2.6 million people [who] die this year in the United States," but there will be only about 5,000 tax returns that will owe estate taxes, he said in a wide-ranging interview.
Buffett said because the estate tax impacts only a small percentage of Americans, getting rid of it would not cause widespread problems.
"If they pass the bill they're talking about, I could leave $75 billion to a bunch of children and grandchildren and great-grandchildren. And if I left it to 35 of them, they'd each have a couple billion dollars," Buffett said. He then asked rhetorically, "Is that a great way to allocate resources in the United States?"
World's second richest man Warren Buffett thinks it's a mistake to eliminate the estate tax
$S-E-V-E-N-T-Y F-I-V-E- B-I-L-L-I-O-N ...
If he's so concerned about the allocation of resources why wait until he dies when he can help right now?
Bureau of the Fiscal Service - Gifts to the U.S. Government
This is why I don't take people like Buffet seriously when they spout off this rhetoric. It's just fodder for people like you who are jealous that others are rich and you're not.
By the way, Buffet has already pledged most of his fortune to the Gates Foundation, so this own actions contradict his words
Warren Buffett