Inherited wealth. Any justification?

[Agit8r]

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'

 

[LordBrownTrout]

I don't see the argument for giving anything back to the government when taxes have already been paid.

 

[rightwinger]

No problem with inheriting wealth

The problem comes when you are born on third base and you act like you hit a triple

 

[Gunny]

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'

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

 

[California Girl]

I don't see the argument for giving anything back to the government when taxes have already been paid.

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.

 

[Agit8r]

I don't see the argument for giving anything back to the government when taxes have already been paid.

Ever witnessed Caroline Kennedy?

Can you honestly tell me she merits the wealth she has?

 

[Valerie]

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.

 

[LordBrownTrout]

I don't see the argument for giving anything back to the government when taxes have already been paid.

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.

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.

 

[boedicca]

I don't see the argument for giving anything back to the government when taxes have already been paid.

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.

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

 

[Valerie]

I don't see the argument for giving anything back to the government when taxes have already been paid.

Ever witnessed Caroline Kennedy?

Can you honestly tell me she merits the wealth she has?

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...

 

[kyzr]

I don't see the argument for giving anything back to the government when taxes have already been paid.

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.

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.

What about the Gotti Estate or any "Soprano" estate? How about if the taxes weren't paid, such as they have it off-shore in tax shelters?
Wealth should be passed-on, but I support the current policy of only taxing wealth over $2.5m so that family farms and upper middle class folks aren't hurt.

 

[Wiseacre]

In this country it used to be that people worked hard to give their kids a better life. Pretty sad that the next generation is going to get royally screwed.

Look, the wealth that is inherited has already been taxed or will be when it gets sold, distributed, or otherwise counts as income. Soomer or later it's going to get spent, invested, or eventually make it's way back into the system. Until that happens the gov't should keep their greedy little hands off.

 

[JWBooth]

I don't see the argument for giving anything back to the government when taxes have already been paid.

Ever witnessed Caroline Kennedy?

Can you honestly tell me she merits the wealth she has?

Who am I to say she does not? The man who created the wealth thougth so, and thats good enough for me, be it a Kennedy, a Koch, or a Gates.

 

[Anachronism]

Personal Wealth is a PRIVATE issue which the Government should not be involved in at all. It's not about being Fair or Kind or Nice or anything like that. It's about FATE and what you choose to do with it.

 

[LordBrownTrout]

I don't see the argument for giving anything back to the government when taxes have already been paid.

Ever witnessed Caroline Kennedy?

Can you honestly tell me she merits the wealth she has?

No, she didn't acquire that through her own , but what right does the government have by coming in and confiscating what has already been taxed? I really can't understand how anyone would support estate, inheritance taxes.

 

[California Girl]

I don't see the argument for giving anything back to the government when taxes have already been paid.

Ever witnessed Caroline Kennedy?

Can you honestly tell me she merits the wealth she has?

So, you're supposed to decide who is 'allowed' to keep their wealth? Fuck off you greedy, (and probably poor) liberal. What's hers is hers.... earn your own fucking money.

 

[chikenwing]

I don't see the argument for giving anything back to the government when taxes have already been paid.

Ever witnessed Caroline Kennedy?

Can you honestly tell me she merits the wealth she has?

Never have been a Kennedy fan,but your self righteous ,petty envy, doesn't give your position much to stand on.

 

[Robert]

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'

Just a clarification: Do you believe it all belongs to the government or do you believe it belongs to the person.

 

[Agit8r]

I don't see the argument for giving anything back to the government when taxes have already been paid.

Ever witnessed Caroline Kennedy?

Can you honestly tell me she merits the wealth she has?

Who am I to say she does not? The man who created the wealth thougth so, and thats good enough for me, be it a Kennedy, a Koch, or a Gates.

How absurdly un-American (0.0)

 

[Navy1960]

Now why when I read this post am I suddenly seeing visions of those two young British Royals who are being wed. There's a prime example of wealth from what source? However, If someone pay's taxes on wealth , I fail to see how taxing it again somehow can be justified into being called anything but a penalty. The other issue here is this sense that money earned somehow belongs to the Govt. it does not. A person and company should however want to pay their fair share of taxes to support the nation in which we all love. The issue that comes to mind here is that when we do pay that money is spent in reckless ways and as such it is the taxpayers right to demand it be spent in a wise manner.