Mises Wire

“A meaningful estate tax is needed to prevent our democracy from becoming a dynastic plutocracy.’’

“A meaningful estate tax is needed to prevent our democracy from becoming a dynastic plutocracy.’’

A most pathetic comment from Warren Buffett, who is horrifying when it comes to assesing politics and freedom. Family heirs, he says, have already won an "ovarian lottery," and thus should not be "rewarded" by the tax system. Mr. Buffett, however, doesn't explain why the lack of theft is considered to be a "reward."

Perhaps it is because the status quo of rampant theft by the state is accepted as the norm, and any scaling back of such theft therefore is considered to be a "favor." Of course, equating the transfer of private property to one's heirs with "a lottery" denotes a complete lack of critical thinking skills.

But, then again, it's easy to be in favor of estate redistribution when you've still got billions left over after the theft.

All Rights Reserved ©
Note: The views expressed on Mises.org are not necessarily those of the Mises Institute.
What is the Mises Institute?

The Mises Institute is a non-profit organization that exists to promote teaching and research in the Austrian School of economics, individual freedom, honest history, and international peace, in the tradition of Ludwig von Mises and Murray N. Rothbard. 

Non-political, non-partisan, and non-PC, we advocate a radical shift in the intellectual climate, away from statism and toward a private property order. We believe that our foundational ideas are of permanent value, and oppose all efforts at compromise, sellout, and amalgamation of these ideas with fashionable political, cultural, and social doctrines inimical to their spirit.

Become a Member
Mises Institute