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Politics : Ask Michael Burke -- Ignore unavailable to you. Want to Upgrade?

To: Freedom Fighter who wrote (110017)	11/23/2007 10:43:25 AM
From: Freedom Fighter	Read Replies (1) \| Respond to of 132070

skeeter, >>>>nowhere has warren buffet ever decried that anyone else should be prohibited from giving money to a CHARITY in order to FORCE them to pay the death tax on it.<<<< >Yes, but is flat out implying that I can't give ALL the results of my life's efforts to my poor nieces, nephews, cousins etc... even though those are MY VALUES. I would prefer to give my money to the people I love, who have loved and cared for me, and who share my values and not to government or strangers.< By the way, I also think his "meritocracy" argument is FOS. When people leave money to their children, close relatives, best friends etc.... they may not be leaving it to the best people based on their future productivity and ability to allocate capital. But most wealthy people try to ensure in some way they don't blow it all with stupidity. The most gifted have more power and control etc... There is also at least some extra probability that through genetics and the benefits of that wealth in growing up they are better prepared to allocate it well. IMO, there are few choices worse than government in that regard. Once you send it to government, it's going down a sink hole. Merit isn't even really part of the equation. Besides, let says a rich person does leave all his money to a foolish son, free markets will compete it away from him over time anyway. Merit will win, just a little later.

To: Freedom Fighter who wrote (110017)	11/25/2007 1:02:41 PM
From: Madharry	Read Replies (1) \| Respond to of 132070

thats what trusts are for.

To: Freedom Fighter who wrote (110017)	11/25/2007 4:03:18 PM
From: Skeeter Bug	Read Replies (1) \| Respond to of 132070

wayne, your argument is a total red herring. nowhere does warren buffet say you can't help out your family. let's let you do the math, b/c you either don't understand the death tax or you are choosing to mislead people. i have 3 million in wealth at the time i die. how much of that will be taken in death taxes and how much of that will be left over to give to family? now say i have $100 million. how much goes to tax and how much can go to family? first, you try and slime warren as being inconsistent when he is not. second, you throw up the red herring that the death tax precludes one from giving a sizable inheritance to their family. *** apparently, there can be issues with a family owned businesses. losing half of a business can put it out of business. having said that, this kind of thing can be fixed without throwing out the entirety of the death tax and forcing the poor and middle class to pay even more int axes to support the uber rich.