LAST WEEK, superinvestor Warren Buffett, America's second richest man, testified before the Senate Finance Committee on the subject of why people like him can well afford to pay taxes. In fact, Buffett is ceasing to be among the very wealthiest because he is giving most of his fortune away to philanthropies while he is still alive. "Dynastic wealth, the enemy of a meritocracy, is on the rise," Buffett told the senators. "Equality of opportunity has been on the decline. A progressive and meaningful estate tax is needed to curb the movement of a democracy toward a plutocracy." Buffett also propo...
