Abolish inheritance

[peilthetraveler]

I'm guessing those of you that are in favor of abolishing inheritance have none coming to you, or if your parents are already dead, didnt get one.

Money doesnt make you who you are, it only amplifies who you are. If you are a hard worker with little money, you will work much harder with money. If you are an asshole when you dont have money, you will be a bigger asshole with money. If you are a lazy bum without money, you will be even lazier with money.

If your parents work hard all their lives and invest and save 1 million dollars, why shouldnt the kids get it.(most "kids" will not get their inheritance until they are in their 40s-50s by the way so saying it will ruin them is a little naive)

But if that logic holds up that people become lazy when they get a sudden surge of cash, then why would you give it to the government? Wouldnt they just get more lazy, too? Why screw everyone up when you can just screw up your own kids.

 

[trefoil]

Somewhere, and if I can be bothered I'll find it, Machiavelli observed that over the long term republics had it all over any other form of government because.....

they let people keep what they earned and pass it on to their heirs.
In a republic, what's yours is yours. In a dictatorship, what's the dictator's (or king's) is his, and what's yours is negotiable. People tend to work harder if they know they'll get to keep it and pass it on.

It's simple accumulation of wealth. Society gets richer because people know they can make long-term investments and it will pay off not just for themselves, but for their heirs.

 

[Mercor]

Quote from Debaser82:

-Everyone starts from the same level...
What's not to like?

Other valuable things you inherit from your family:
Looks
Morals
Standards
Family connections
Athleticism
Intelligence
social standing

How do we keep a fashion model from passing on attractive genes that might give her child the easy rich life of a model.
Do we force her to marry ugly men?

Your going to go crazy worrying about the rich. Wealth dilutes quickly over several generations and especially if it is not put at risk.

 

[gastropod]

Quote from rock34748:

They would never see a court room. There is a difference. Think about it.

One name - two words (well - four words - damned foreign names ;-) ) to back your statement: Juran Van der Sloot - motherfu(ker will get out of another murder soon!!! He killed Natalie Holloaway. He has now killed Stepany Flores. He is but a lowly son of a judge...I guess that is high enough up to get away with murder!

-g

 

[MarketMasher]

Quote from Mercor:



Wealth dilutes quickly over several generations and especially if it is not put at risk.

That's an interesting assertion. Are there big Trusts that have lots of people with the same name or familial connection?

If you could monopolize something important and have the gov't protect your monopoly using connections, that would ensure a nice future flow.

There was an example of some Calif wine mogul who used his political connections to get the inheritance tax or something like that waived for a year so he could pass on his wealth. Nice trick.

 

[gastropod]

Your assumption is incorrect. Removing inheritance is 100% off the desired path. The "power elite" manipulate the system, so that their relatives will "inherit" everything. Do you REALLY think Raoul Castro was the best choice to replace Fidel as the leader of Cuba????? Do you really think Kim Jong-Il's 26 year old son is the most competent to receive the leadership of North Korea. Kim Jong-Il "inherited" the leadership from his father Kim Il Sung. Do I need to even mention G.W - inheritor of G.H.W.????

No sir - we need to return to a statement you probably have never heard of and that I doubt we will ever see again....unless you are of the power elite.

Learn the term "allodial" - learn it and never forget it! http://en.wikipedia.org/wiki/Allodial

-g

 

[pspr]

Stupid!

 

[gastropod]

Quote from Debaser82:

-Everyone starts from the same level...
- It would ensure for many taxes to be cut
- You can't take it to the grave so the spending would stimulate the economy.

....

What's not to like?

Hello Debaser,

I have a question for you. Do you think people are poor, because they don't pay enough taxes or are they poor, because they can't accumulate wealth?

Thanks,
gastropod

 

[MarketMasher]

Both Warren Buffett and Bill Gates have said they are not leaving their mega-billions to heirs. They will leave them enough to be comfortable, but just passing it all on to them violates what they consider a core American idea - that it is a meritocracy, not what Buffett called "winning the ovarian lottery".

Of course, that's what they SAY. Will they actually do it? Will have to wait and see.

 

[peilthetraveler]

Quote from MarketMasher:

Both Warren Buffett and Bill Gates have said they are not leaving their mega-billions to heirs. They will leave them enough to be comfortable, but just passing it all on to them violates what they consider a core American idea - that it is a meritocracy, not what Buffett called "winning the ovarian lottery".

Of course, that's what they SAY. Will they actually do it? Will have to wait and see.

I have heard they will leave them about 10 million dollars. Just enough money that they could blow it in 5 years and be on the streets.