Warren Buffet Challenge: What kind of society do you want?

[Freethinker]

I recently ran across a challenge Warren Buffet regularly brings up when on a speaking engagement. It is usually when mentioning social justice. It is on the last page of this commencement address.

http://www.rifoundation.org/wfri/pdf/LincolnCommencement.pdf

Let’s say it was 24 hours before you were born, and a genie appeared and said:
“What I’m going to do is let you set the rules of the society into which you will
be born. You can set the economic rules and the social rules, and whatever
rules you set will apply during your lifetime and your children’s lifetimes and
even the lifetimes of your grandchildren.”
And you’ll say, “Well, that’s nice. I get to define what kind of world I want
to live in. But what’s the catch?”
And the genie says, “Here’s the catch. You don’t know if you’re going to
be born poor or rich, black or white, female or male, infirm or able-bodied,
homosexual or heterosexual, retarded or intelligent.”
Now what rules do you want to have?

Anyway I found it neat to think about, but I suspect it is because I already think this way, so I suspect others may also dislike the framing of the question.

Isn't it valuable to try and step away from our personal situation when we discuss the various political philosophies that we think should govern our nation?

Thoughts??