Buffett on Inheritance
Our kids are going to be rich, in the top half-a-percent of the world, but 99% of what I have will go to philanthropy, and Bill [Gates] has the same attitude, basically. We are not going to turn out super-superwealthy kids. They’ll be wealthy, there’s no question about that, but the idea of dynastic fortune turns me off. If you talk about equality of opportunity in this country and really having everybody with talent having a fair shot at getting the brass ring, the idea that you hand over huge positions in society simply because someone came from the right womb, I just think it’s almost un-American.
I like the last sentence in the above quote, but it means that we wouldn’t have The World’s Greatest, Most Fearless Leader Ever!
I came across this via Oliver Willis, who highlighted Buffett’s comments on the idiocy that is the flat tax.
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