Thursday, November 15, 2007

When one of the wealthiest people in the world says taxes should be higher, maybe we should listen.

Warren Buffett, the billionaire CEO of Berkshire Hathaway, is known for speaking directly, sometimes bluntly. "Dynastic wealth, the enemy of a meritocracy, is on the rise. Equality of opportunity has been on the decline," Buffett said, as the Senate Finance Committee held a hearing on estate tax reform. "A progressive and meaningful estate tax is needed to curb the movement of a democracy toward plutocracy....In a country that prides itself on equality of opportunity, it's becoming anything but that as the gap between the super-rich and the middle class is widening."
Buffett earned his billions by understanding people and money. If the free market rewards good ideas, then every American with a net worth of less than $52.4 billion needs to listen closely to what Buffett has to say.

No comments: