Blogs Derek's Tax Blog Estate Tax helps Buffett
"Warren Buffett, the collector" is the title of a recent Seattle Times Editorial. The position of the Seattle Times' publisher on the Estate Tax is well known. So, it should come as no surprise that an editorial would seek to critique one of the Estate Tax's most public proponents.
"We have a bone to pick with Buffett about the federal tax on estates. He defends the death tax in terms of meritocracy, though we think it's more because the tax's 45-percent top rate — increasing to 55 percent in 2011 — provides Buffett with a market in family companies that heirs are forced to sell."
This point was made earlier this week, here. I hadn't considered this aspect prior to this article, but the more I think about it, the more I agree that it makes sense.