Warren Buffett, socialist?

[loose passive]

Death Tax article

[ QUOTE ]
"Dynastic wealth, the enemy of a meritocracy, is on the rise. Equality of opportunity has been on the decline," Buffett said. "A progressive and meaningful estate tax is needed to curb the movement of a democracy toward plutocracy."



[/ QUOTE ]

and

[ QUOTE ]
"In a country that prides itself on equality of opportunity, it's becoming anything but that as the gap between the super-rich and the middle class is widening."



[/ QUOTE ]

So is Buffett a socialist? capitalist?

How would you label him?

Is he wrong about the death tax?

Do you agree with any of his quotes?

[Zygote]

[ QUOTE ]
Death Tax article

[ QUOTE ]
"Dynastic wealth, the enemy of a meritocracy, is on the rise. Equality of opportunity has been on the decline," Buffett said. "A progressive and meaningful estate tax is needed to curb the movement of a democracy toward plutocracy."



[/ QUOTE ]

and

[ QUOTE ]
"In a country that prides itself on equality of opportunity, it's becoming anything but that as the gap between the super-rich and the middle class is widening."



[/ QUOTE ]

So is Buffett a socialist? capitalist?

How would you label him?

Is he wrong about the death tax?

Do you agree with any of his quotes?

[/ QUOTE ]


buffet should be concerned with central banking and government assistance, which the wealthy always do a better job of taking advantage of, if he wants to solve the problems he's posed.

[lehighguy]

I read that his father was actually very Ron Paulish.

[Mr_Moore]

Responding to the second quote. How is equality of opportunity disappearing connected to gap is widening?

[mjkidd]

I don't understand why he needs an estate tax to give away his money. Can't he just write me a goddamn check?

[JackWhite]

[ QUOTE ]
I don't understand why he needs an estate tax to give away his money. Can't he just write me a goddamn check?


[/ QUOTE ]

I thouht he gave away his money to Bill Gates (foundation that is)

[Jcrew]

[ QUOTE ]
"Dynastic wealth, the enemy of a meritocracy, is on the rise. Equality of opportunity has been on the decline," Buffett said. "A progressive and meaningful estate tax is needed to curb the movement of a democracy toward plutocracy."



[/ QUOTE ]

So the crux of his argument is that a vast amount of monetary resources are being held hostage by people who have not shown that they are equipped to put it in productive use via the inheritance mechanism.

The 2nd quote is an observation/conjecture that the difficulty for upward economic/social mobility has been increasing steadily and is at relative peak.

IMO, both statements are correct. The question is whether or not the estate tax should be increased to provide more opportunity(or the perception of more) to the lower factions of society. At that point it is just a matter of opinion and what a person wants for society. I would prefer more estate tax if it lowered income tax(at any level).

[pvn]

[ QUOTE ]
The question is whether or not the estate tax should be increased to provide more opportunity(or the perception of more) to the lower factions of society.

[/ QUOTE ]

Could you explain how this would actually work?

[xorbie]

[ QUOTE ]
[ QUOTE ]
The question is whether or not the estate tax should be increased to provide more opportunity(or the perception of more) to the lower factions of society.

[/ QUOTE ]

Could you explain how this would actually work?

[/ QUOTE ]

They would be given money.

[PLOlover]

the real rich don't pay estate tax (or much of any tax).

It's about soaking the middle class.