A “Buffett Tax” Resolution

(1) Whereas, the U.S. government is in desperate need of revenue.

(2) Whereas, Warren Buffett is worth tens of billions of dollars, almost all of which is destined for private foundations and thus will completely escape federal tax.

(3) Whereas, Warren Buffett has publicly proclaimed that he is undertaxed.

(4) Resolved, the U.S. government should pass legislation that gifts to foundations in excess of a $20 billion lifetime exemption will hereinafter be taxed at 55%, the normal inheritance tax rate.