Inherited wealth. Any justification?

Discussion in 'Politics' started by Agit8r, Apr 17, 2011.

?

Should inherited wealth exist?

Poll closed Apr 23, 2011.
  1. Yes

    44 vote(s)
    78.6%
  2. No

    1 vote(s)
    1.8%
  3. Yes, but it should be limited/taxed

    11 vote(s)
    19.6%
  1. Agit8r
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    Agit8r Gold Member

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    In a merit-based society, is their any justification for wealth being passed down generationally. And, if so, is there any limit to such justification?

    Just askin'
     
  2. LordBrownTrout
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    LordBrownTrout Gold Member

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    I don't see the argument for giving anything back to the government when taxes have already been paid.
     
  3. rightwinger
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    rightwinger Paid Messageboard Poster Gold Supporting Member Supporting Member

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    No problem with inheriting wealth

    The problem comes when you are born on third base and you act like you hit a triple
     
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  4. Gunny
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    Gunny Gold Member

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    Seems to me the Federal government has already limited it, ensuring they get their dirty little fingers in the pie.
     
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  5. California Girl
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    California Girl BANNED

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    Back to the government? Did other people's money once belong to the Government? No.

    Who inherits what from whom is absolutely no one else's business... including the Government... and damned jealous, petty, greedy people.
     
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  6. Agit8r
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    Agit8r Gold Member

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    Ever witnessed Caroline Kennedy?

    [​IMG]

    Can you honestly tell me she merits the wealth she has?
     
  7. Valerie
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    Valerie Gold Member

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    Wealth is personal private property obtained by legal means and should absolutely be inheritable to whomever the owner deems their benefactor and only subject to minimal tax at best. Government confiscation would be downright outlandish.
     
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  8. LordBrownTrout
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    LordBrownTrout Gold Member

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    I think you misunderstood. My point was the same as yours. If my family leaves me their estate after they have paid for it and have been taxed, then I shouldn't have to be taxed again for inheriting what they have already paid for.
     
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  9. boedicca
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    boedicca Uppity Water Nymph Supporting Member

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    Indeed. And as to who the wealthy are, most are Self Made. Punishing their success, and frugality (most live well below their means), is corrupt.

    Want to be a millionaire? Don't overspend and use debt wisely.

    We all may not be millionaires but there are plenty of financial and life-planning secrets we can learn from the well-heeled.

    Most people know that wealth in the U.S. is in the hands of a small percentage of the total population. And, today, most of those folks with a net worth of $1 million or more have earned it themselves.

    They're mostly entrepreneurs who create everything from high-speed networks to garbage haulers. They dig ditches and build houses and grow corn and make jewelry. They deal stamps or coins or artwork and control pests and cut lawns. They also cure people and give them new teeth. Others will defend their neighbors or even feed them.

    And they're not big spenders. In fact, most of those with big bucks live well under their means -- think about Warren Buffett still living in that modest Omaha home -- and they put their money instead toward investments that help them stockpile more wealth.

    "Wealth is what you accumulate, not what you spend," according to Thomas Stanley and William Danko, the authors of the seminal tome on America's wealthy "The Millionaire Next Door," first published in 1996.

    "It is seldom luck or inheritance or advanced degrees or even intelligence that enables people to amass fortunes," the authors wrote. "Wealth is more often the result of a lifestyle of hard work, perseverance, planning, and, most of all, self discipline."


    Yahoo! Finance - Financially Fit
     
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  10. Valerie
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    Valerie Gold Member

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    The "merit" is the private ownership of wealth which should not be subject to government confiscation. Working hard so your children and grandchildren can afford a better education and lead a better life is the American dream...
     
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