Saturday, December 25, 2010

Warren Buffet and the Death Tax

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.

There are those that barely fall into the estate tax category, many of which are small farmers. Everyday we hear tales on how family farms are disappearing. The people that own the family farms cannot afford these expensive million dollar insurance policies. When they die, the families are forced to sell the land on which the farms sit. Guess who owns those realtor companies that sell the farms? If you guess Warren Buffet then you are right.

 Through either sales or insurance, he is reaping billions through the death tax. While he whines that the rich needs to pay more in taxes, he starts nonprofit tax shelters in which to hide his money. To be fair, Buffet is giving billions to charity, but if he was really a believer in government redistribution of wealth, then he would turn over those billions to the government.

The left takes our money in the name of doing good. Warren is making millions off other’s deaths. We have The Democrats mandating health insurance. Who owns large interest in insurance companies? Yes, Warren Buffet.

I remember the time when people worked and struggled to build a business so their children wouldn’t have to do the same. The Democrats have declared the children of these business people don’t deserve anything and that if they want wealth they should earn their own.

Welcome to the socialist world of class warfare and wealth redistribution. The government has decided they know better than the men and women that have built the industrial backbone of this nation.

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