Warren Buffet and the Democrats tell us they need to take property
from the greedy rich people when they die. The Democrats have decided
that you don’t deserve any money or property in which you didn’t earn. They decided the government has the right to redistribute that wealth
On the surface, all this might sound good to those who believe in wealth redistribution. Once you begin to dig into estate taxes, things may not be what you believed. Warren Buffet pushes hard for the estate tax. There is a good reason he does this, and it’s not that he has a kind and giving heart. The very wealthy have a way around these estate taxes. They put money into huge insurance policies worth millions. Insurance money isn’t taxable through the estate or income tax.
Warren Buffet coincidentally owns many of these insurance companies. As long as there is a death tax he is able to sell these massive policies, which without an estate tax they wouldn’t be needed.
On the surface, all this might sound good to those who believe in wealth redistribution. Once you begin to dig into estate taxes, things may not be what you believed. Warren Buffet pushes hard for the estate tax. There is a good reason he does this, and it’s not that he has a kind and giving heart. The very wealthy have a way around these estate taxes. They put money into huge insurance policies worth millions. Insurance money isn’t taxable through the estate or income tax.
Warren Buffet coincidentally owns many of these insurance companies. As long as there is a death tax he is able to sell these massive policies, which without an estate tax they wouldn’t be needed.