Washington, DC – Today billionaire Warren Buffett testified in front of the Senate Finance Committee against repealing the onerous death tax.   Reportedly the third-wealthiest individual in the world, Buffett claims that the death tax is necessary to “prevent out democracy from becoming a dynastic plutocracy.” 

What Buffett fails to mention is the existence of another mechanism he, and other “tax me more” billionaires such as Bill Gates and George Soros, can use to send more of his money to the federal government. 

The federal government’s “Gift to the United States” account has been active since 1843.  In 2005 the U.S. Treasury received 48 contributions for $21,179.  Since 1982, the Treasury has received 16,074 contributions for a cumulative $9.8 million.  According to the Treasury website, contributions may be sent to: Gifts to the United States, U.S. Department of the Treasury, Credit Accounting Branch, 3700 East-West Highway, Room 6D37, Hyattsville, MD 20782.  

“Talk is cheap,” said Grover Norquist. “If Buffett and other tax-me-more billionaires want to walk the walk, they are more than welcome to send a check to the federal government and leave the small businesses and entrepreneurs who actually pay the death tax alone.”