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View Diary: Bush Proves Trickle Down Doesn't Work As Advertised (194 comments)

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  •  Buffet just showed why the estate tax is useless (0+ / 0-)

    Buffet's giant estate will pay 0 taxes on the 30+ billion he just donated.  Not a penny will go to the government.  He donated about 30 billion to the Gates Foundation tax free.  He donated another 1 billion to each of his children's foundations.  While they don't get that money directly, they get to direct how the money is spent (including administrative salaries and such which include their own).  So who is paying the estate tax again?

    Oh and I imagine the rest will be in trusts to be passed on tax free before he dies...

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