Diane Swayer declares billionaire Warren Buffett is a “good guy” for declaring the rich should pay more taxes (see video), while other billionaires claim he is going senile.
Has Buffett gone off the deep end? Or is there something other than meets the eye?
“Last week, superinvestor Warren Buffett, America’s second richest man, testified before the Senate Finance Committee on the subject of why people like him can well afford to pay taxes. In fact, Buffett is ceasing to be among the very wealthiest because he is giving most of his fortune away to philanthropies while he is still alive,” reports the New York Times. “Dynastic wealth, the enemy of a meritocracy, is on the rise,” Buffett told the senators. “Equality of opportunity has been on the decline. A progressive and meaningful estate tax is needed to curb the movement of a democracy toward a plutocracy.”
Of course, an estate t
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