Wednesday, December 08, 2010

These two connect-the-dots posts on Warren Buffett and his long-standing "altruistic" embrace of estate taxes are kind of devastating. Unless you have an ad hominem hostility to ideologically-oriented big-think blogs like the American Thinker and Human Events, I suppose. Now that I look at it, te American Thinker post is more of an ideological exclamation point, whereas the Human Events post is the meat of the matter.

Short form? The estate tax is the threat, Buffett's insurance company combine is the protection racket, and his distress-sale merger arm is a modified busting-out operation capitalizing on the chaos caused by the interaction of the first two scams.

My one concern with the Human Events post is the possibility that the forced-charity case may be weakened by a variation on Friedman's permanent income hypothesis - that the projected return of the estate tax means that charity strategies are largely unaffected because their purpose is long-term, and in the long term, the estate planners expect a return of the conditions which drive forced charity.


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