castanyes blaves
Random ramblings about some random stuff, and things; but more stuff than things -- all in a mesmerizing and kaleidoscopic soapbox-like flow of words.7/09/2006
The most of his vast personal fortune is to be given to the Bill Gates' charitable foundation. Some may wonder if it is not a bit of a disappointment to give all this money to charity when you haven't been doing much else in your life than accumulating it. I actually think it is the last link in the chain that makes the world round. It is like the Greek circle of life: you spend your life trying to be good at something, producing to earn for yourself and your child, and then give the money you won't need to charity.
Mr. Buffett, the Omaha investor who ranks fourth on the Forbes magazine list of the richest Americans, said in an interview that he had not signed the petition itself because he thought it did not go far enough in defending "the critical role" that he said the estate tax played in promoting economic growth, by helping create a society in which success is based on merit rather than inheritance.
Mr. Buffett said repealing the estate tax "would be a terrible mistake," the equivalent of "choosing the 2020 Olympic team by picking the eldest sons of the gold-medal winners in the 2000 Olympics."
"We would regard that as absolute folly in terms of athletic competition," he said.
"We have come closer to a true meritocracy than anywhere else around the world," he said. "You have mobility so people with talents can be put to the best use. Without the estate tax, you in effect will have an aristocracy of wealth, which means you pass down the ability to command the resources of the nation based on heredity rather than merit."
Archives
200409 200412 200501 200502 200503 200504 200505 200506 200507 200508 200509 200510 200511 200512 200601 200602 200603 200604 200605 200606 200607 200608 200609 200610 200611 200612 200701 200702 200703 200704 200705 200707 200708 200709 200710 200711 200712 200801 200802 200803 200804 200805 200806 200807 200808 200809 200810 200811 200812 200901 200902 200903 200904 200905 200906 200907 200908 200909 200912 201001 201002 201003 201004 201007 201009 201011 201102
Subscribe to Posts [Atom]