Try this one on for size and read past the first couple sentences and paragraphs:
It’s like a bunch of rich guys running around acting altruistic and claiming the death tax should be reinstated or at higher levels.
What they don’t tell you is their holdings include companies who profit from estate planning, income shelter, etc.
If the government has no death tax it is a direct competition to the insurance companies, law firms, Wall Street, etc.
Without the death tax there is no need for their services and such stringent estate planning.
Here is an excellent video explaining Warren Buffet and Berkshire-Hathaway. Get a cup of coffee and watch it. You will see the scheme explained and then you will get it.
Also note what companies he has acquired, how and why:
Why This Superrich Guy Likes High Taxes
http://www.xtranormal.com/watch/8035391/
Warren Buffett Benefited From Death Tax
http://www.humanevents.com/article.php?id=15951
Wanna know why Buffet pushed for TARP bailout?
Suffice it to say Berkshire owned stock in some largest receipents of TARP valued at $13 billion around that time.
Here is the funny part:
Buffett increased his bank holdings in September, while he was arguing in the media that Congress should approve the bailout to prevent the collapse of the global financial system.
TARP was approved in October of that year, just one month later!
It’s good to be king!
He actually said “if he didn’t think the government was going to act(in a way that would positive and accretive to hihis holding) he wouldn’t have been doing anything that week”. (paraphrased)
For more read here:
http://www.mcclatchydc.com/2009/04/05/65496/buffett-champion-of-bailout-is.html
BofA in April 2009 was around $4 per share and is now trading at $13.80 per share as of 3/02/2001
Wells Fargo in April of 2009 was around $11 per share and is now trading at around $31 per share.
How about US Bancorp trading at around $14 per share in April 2009 and now trading at about $26 per share.
Goldman Sachs Group trading at some $51 dollars per share has now zoomed to above $160 per share.
How about those poor folks at American Express trading at just above $10 per share in 2009 and now they are trading at about $45 per share?
Bottom line: We, the schmuck taxpayer, paid to enhance the holdings of companies like Berkshire and investors in Berkshire.
Made billions on Tarp and thinks he will live forever.
Waiting for the next crisis, unlike democrats who never let a good crisis go to waste his motto is never not made a few billions on a crisis.