And while I went through my anti-Microsoft period back in the '90s, even while using their products many times daily, I've come to respect Bill Gates as the best possible mogul to come out of the late century tech boom, particularly when he uses his vast wealth and public power thusly.
Here's to responsible capitalism, especially as being practiced by Warren Buffett. Not only has he announced that he will leave roughly 80% of his estimated $44 billion fortune to the Bill & Melinda Gates Foundation, he came out strongly against repealing the estate tax.
I like how that tax is being called the Paris Hilton Tax or, more recently, the Luck Tax. Of course I believe there should be reasonable bottom end limits to protect family farms and more moderate inheritances.
But while the GOP is happy to repeal a tax that only affects their wealthiest donors while denying the U.S. government over $1 trillion through the next 10 years, Warren makes it plain:
"It's a very equitable tax," Buffett said. "It's in keeping with the idea of equality of opportunity in this country, not giving incredible head starts to certain people who were very selective about the womb from which they emerged."
He's in a fine tradition that includes staunch capitalists Thomas Paine, Theodore Roosevelt and, my personal favorite, Andrew Carnegie. To wit:
Carnegie sharply distinguishes between the intended consequence of the inheritance tax (to create funds for public purposes) and its unintended consequence (private philanthropy). The unintended effect of the tax is "“to induce the rich man to attend to the administration of wealth during his life." Wealth is a trust fund for the community that helps the rich "“dignify their own lives."
Great libraries, a great educational institutions, a great concert hall, a great hero fund.
Ah, if I were a rich man...
Ya ha deedle deedle, bubba bubba deedle deedle dum.
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