streda, decembra 05, 2007

Are Richest People Socialists?

Warren Buffett – third richest person in the universe want to maintain the estate tax, which now pay owners of estates worth more than two milion dollars. The levy is not any slice in USA. Maximum rate relieves a man of 45 percent of its value. Buffett said for Bloomberg that „to repeal the tax would benefit a handful of the richest people and widen income disparity.“ Other billionaires including Gates and Soros have joined him in urging Congress to keep the tax.

Uf, uf... Does this distorted meaning come with an age or are they simply socialist-capitalists (if I could use this term) for the whole life? I don´t know. But maybe these gentlemen shouldn´t forget how they made a wealth. To be profitable and make a return an entrepreneur tries to keep his tax base the lowest as possible and invests remaining capital in business again. When a small businessman comes into fortune and has to pay huge ammount of money just because of his parent´s death, he can close down and sell a company.

But not to talk just about the estate levy. Every state tax is immoral, because it´s forced under threat of jail and gun. The state steals a man´s properly acquired wealth and dedicate it to his loyal servants. In the name of balancing income disparity for example.