Dec 14, 2007

Kevin Duffy on why Warren Buffett supports the estate tax

[Warren] Buffett sells life insurance to... people attempting to protect their family businesses and family estates from the ravages of the tax man, just so they can keep them intact for their children. Buffett chooses to hand over the vast majority of his $57 billion fortune to charity, so why should he care? Repeal the exemption on charitable giving and you would see him go apoplectic.

~ Kevin Duffy, Bearing Asset Management, "Beam Me Up,", December 14, 2007

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