Warren Buffett's New York Times op-ed is getting some attention, with praise for his selflessness in calling for higher taxes on himself. It should be noted that Buffett's motivations can't be called entirely selfless: Berkshire Hathaway's business model often involves purchasing private family-owned companies that are hit hardest by the estate tax. The absence of the estate tax takes away this source of profit.
Warren Buffett and taxes
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Rafael Mangual Project Manager, Legal Policy rmangual@manhattan-institute.org |
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Communications Manhattan Institute communications@manhattan-institute.org |