Earlier quoted context omitted.
"And what did he do with these fabulous once-in-a-lifetime gifts?" He used those gifts to amass wealth which he is now in the process of mostly giving away. It goes back to Warren Buffett who claimed that he won the ovarian lottery, being born at the right time with the right circumstances which enabled him to become extremely wealthy. As a result, Buffett advocates giving away 99% of his fortune in recognition of th…
Most of the wealthy I know are not against charity or giving away their wealth.. they are against an inefficient government deciding on how that should be accomplished.
What do you think will be the repsonse to, say, a 50% tax rate on the wealthy that they are able to distribute as they see fit (with strict controls such that it doesn't end up back in their own hands, or their family's)?
Yeah, good luck with that.
I see the "but government is inefficient" argument a lot - it would have some merit, if there's even the slightest hint of evidence that the rich would pay the tax even if the government were the most well-greased machine in the world. As it is it sounds like a lame scapegoat for wanting to keep all of your wealth.