Mikeoxenormous
Diamond Member
World's second richest man Warren Buffett thinks it's a mistake to eliminate the estate tax
Warren Buffett Benefited From Death Tax | Human Events
By the way, Warren is giving most of his Billions to Charity, not the government, but don't you find it hypocritical, but it typical of any uber wealthy liberal. When he dies, each of his kids will get 1 billion dollars. Mighty White of Warren..
The estate tax(Death Tax) is a 3rd taxation on money that a person earns. Mostly this money is found in small businesses and farms, where lets say a farm is worth 10 million dollars, so 50% of that farm is now taxed. The children who inherit the farm has to find the money to pay the taxes so if they don't have the cash, they have to sell the farm and in comes Warren pays the kids the 10 mil, kids pay off the taxes and splits the cash between them. But Warren is now sitting on land that he can develop into housing and this is where a lot of Warrens fortune came from. A liberal using the government to take the money from hard working people, then he becomes richer for it. Now you understand why Warren doesn't want the Death Tax to go away.Billionaire Warren Buffett told CNBC on Tuesday it's a mistake to eliminate the estate tax as part of the Republican approach to tax reform.
Warren Buffett Benefited From Death Tax | Human Events
By the way, Warren is giving most of his Billions to Charity, not the government, but don't you find it hypocritical, but it typical of any uber wealthy liberal. When he dies, each of his kids will get 1 billion dollars. Mighty White of Warren..