How about an example from my neighborhood. Parents bought a big house for their son and his wife. The effect of this is nil but, if it happens a lot the property values will climb and price people who don't have assistance out of the market.
Zone1 What is Wrong with Inequality?
- Thread starter DGS49
- Start date
No limit on your earnings, only limits on how much you can leave for you kids. If you're over that limit do what Bill Gates did, spend some and give some to charity.
how that's workin' out Sage ~S~
OODA_Loop
Account Terminated
Are you actively assisting those "out of market"?
Or just want government to put their hand in the pockets of others to?
Then you should instill in them that there are MANY opportunities to succeed, stress that they study hard and get good grades so they can get scholarships, and choose a well-paying career path (or trade).
We have that. It’s called Medicaid.
frigidweirdo
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Great. So.... everyone can do this? Nope. Impossible.I'm a millionaire/plus and I've never earned more than $60,000/yr.My income is about $120,000/yr. because of investments and SS, but my wages are just $60K.
frigidweirdo
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Depends what you mean by "good advice".
I just think if the kid can't afford it, he shouldn't be able to buy it.
OODA_Loop
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You seem to want to punish those who you feel are undeserving.
Scary place. Look for strident resistance.
Man With A Plan
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How much
Probably not your best example, Alang. Bill Gates left his children 1% of his net worth which equates to about 1 Billion dollars each. Yes, Gates gave to charity ( a lot!) but he also made sure that his children were secure. So under YOUR rules...how much should Gates have been able to leave his kids?
Concerned American
Diamond Member
They have equality in this nation. Equality is not what they want. They will tell you that they want EQUITY which means the want exactly the same as people who have worked for their wealth without working for it.
Man With A Plan
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No limit on earnings? I'm going to call BULLSHIT on that, Alang! Anyone who thinks Government should be able to seize all of the money that people have earned over their lifetime instead of that money going to who the person wants it to go to...is going to have ZERO problem also taking as much of people's earnings as they possibly can! For people like you it's ALWAYS tax the rich! It's not no limit on earnings...it's no limit on taxation!
OODA_Loop
Account Terminated
Rich kids with trust funds and pop-up polo collars are the ones to blame.
Concerned American
Diamond Member
There are already limits on how much you can transfer to your progeny without taxes. I believe the current federal estate tax exemption is about $11M.
Man With A Plan
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The Government already taxed you when you were making your fortune...why should they have the right to tax that AGAIN just because you died? They didn't do anything to EARN that money!
Concerned American
Diamond Member
That is called the free market. Everyone in America has had to navigate it. Whine somewhere else. I can't help it if you haven't got the brains or ambition to figure it out. Every property owner in America has. I didn't buy my kids a house, but they figured it out and are doing very well.
Yep. They want the unmotivated to have the same as the driven…..the lazy to have the same as the hard workers….the below-average to have the same as the intelligent…..the irresponsible to have the same as the conscientious.
There’s no incentive to even try if the socialists are just going to equitize you.
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