How's that for alliteration? And guess who I'm referring to? The Oracle of Omaha is at it again:
Billionaire Warren Buffett told the U.S. Senate Finance Committee today that Congress should keep the estate tax rather than repeal it and help a few rich Americans like him. "I think we need to ... take a little more out of the hides of guys like me," Buffett told the panel.
One of the world's richest men and biggest philanthropists, Buffett has been outspoken against efforts, mostly by Republicans, to repeal or reduce the federal tax on inheritances. Democrats argue that a repeal would amount to a huge windfall for the nation's wealthiest families.
The fate of the levy will effectively be decided during next year's presidential and congressional elections.
The solution to this is easy: make the death tax voluntary. If Warren wants to donate some of his assets to the government, he should do so. Let the rest of those who want to keep it do so. Everyone is happy that way.
