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Joined 2 years ago
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Cake day: June 12th, 2023

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  • Becoming wealthy and staying wealthy is hard.

    I mean first of all, huge disagree. When your money is making money above and beyond what you need to survive, it’s actually difficult to stop being wealthy even when you make giving away your wealth your entire job. Power of compounding.

    Also

    inheritance doesn’t mean anything really

    is an incredibly out of touch statement.

    Second, if the rule applies to all, it would leave a lot of children without the base which their parents worked their whole life for, as they would probably not afford to pay tax on a house they would inherit.

    I think children should be grateful they receive anything at all. This is a nation of rugged individualism, no one should start with a leg up like a free house.

    First - wealthy people just move their wealth overseas

    Well that’s tax evasion and illegal, but you still make a good point. This is the main reason no one is seriously attempting to tax rich people more - they’ll just move their money out of the country. Legality be damned.




  • As for rich people in general, most of them, AFAIK, actually built their wealth from ground up.

    Why in the world would you think that’s the case? We could look up stats but we shouldn’t have to. You already realize that the children of self-made rich people will themselves become rich without any effort. Logically, it would follow that over generations there would end up being a much higher proportion of “descendants of self-made rich people” than “self-made rich people”.