re: #45 MichaelJ

Warren Buffett seems to think that the rich aren’t paying enough taxes…

Warren Buffet is the largest writer of Life Insurance policies on the planet. Buffet loves life insurance.

Why would Warren Buffet oppose death taxes? Because he is a stand up, moral, bleeding heart kind of guy?

No. It is because life insurance is a product that you buy to wipe out the tax bill for the kids when you die. The mega rich could not care one iota if there is a death tax. Not one bit. With life insurance and the stepped up basis rule, they completely avoid it (if they hire the right estate planning attorneys).

Death tax hits people who are too stupid to hire lawyers to protect their asset rich family businesses. You know - farmers. construction firms. dry cleaners.

Buffet can’t wait for death taxes to come back. Life insurance premiums have dropped considerably in the last few years but will be going back up next year. buy berkshire shares now while they are still cheap.