I don't understand Warren Buffett's support for democratic candidates and their efforts to overturn Bush's tax cuts. If Buffett believes that government officials can better achieve his goal of "income redistribution", then why did he donate those billions to the private Gates Foundation, rather than straight to federal treasury? Does he employ accountants and attorneys to minimize his tax obligation? If so, why? How does he explain that Bush's tax cuts preceded a massive increase in tax revenues, uninterrupted economic growth, and low unemployment? Does he not believe that revoking that tax break would reverse these trends? How could that help facilitate "income redistribution"?
If government officials can better achieve "income redistribution" than can the private efforts of individuals (either by people helping those of meager means, or by those of meager means using their intelligence and effort to increase their income and wealth), then why not turn over to government officials other desired goals, such as building cars and investing capital?
I can understand Buffett voting democrat because he views the Iraq war as a disaster that harms the economy, but I cannot understand how he desires democratic tax policies, rather than regarding them as an unfortunate trade-off in electing a president most likely to end the Iraq war.
Here's an excellent analysis of Buffet's claim.