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November 20, 2012
A 'Buffett Tax' Resolution
The Volokh Conspiracy: A “Buffet Tax” Resolution, by David Bernstein (George Mason):
- Whereas, the U.S. government is in desperate need of revenue.
- Whereas, Warren Buffet is worth tens of billions of dollars, almost all of which is destined for private foundations and thus will completely escape federal tax.
- Whereas, Warren Buffet has publicly proclaimed that he is undertaxed.
- Resolved, the U.S. government should pass legislation that gifts to foundations in excess of a $20 billion lifetime exemption will hereinafter be taxed at 55%, the normal inheritance tax rate.
November 20, 2012 in Tax | Permalink
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Comments
It is really comforting to see a Conservative site like the Volokh Conspiracy admit that the normal estate tax rate should be 55%.
Posted by: David R. | Nov 20, 2012 9:37:44 PM
There should be a punitive tax on people who misspell Buffett.
Posted by: SethH | Nov 21, 2012 1:31:30 PM
