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Warren Buffett and taxes



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.

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Isaac Gorodetski
Project Manager,
Center for Legal Policy at the
Manhattan Institute
igorodetski@manhattan-institute.org

Katherine Lazarski
Press Officer,
Manhattan Institute
klazarski@manhattan-institute.org

 

Published by the Manhattan Institute

The Manhattan Insitute's Center for Legal Policy.