Re: Business, Economic, and Tax Policy 9: No, No, No, We Compost The Rich
Purely anecdotally I grew up / went to school with a lot of these people, so it makes perfect intuitive sense to me. My self-correction for anecdotal bias is always to remind myself how inconceivable poor the average American is.
One reason I am so hard core socialist is I know from experience just how little the super rich deserve their wealth. There is literally no reason for the kids of rich people to inherit tens of millions of dollars. I would impose an absolute hard cap of $10M for lifetime wealth transfer between generations in a family. Your brat wants to inherit your $100M mansion overlooking Central Park? Fine -- she can go out and earn the money to buy it at the estate sale. You already gifted her a Harvard degree and your Rolodex -- that should be enough.
Meritocracy. It's what's for dinner.
Originally posted by dxmnkd316
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One reason I am so hard core socialist is I know from experience just how little the super rich deserve their wealth. There is literally no reason for the kids of rich people to inherit tens of millions of dollars. I would impose an absolute hard cap of $10M for lifetime wealth transfer between generations in a family. Your brat wants to inherit your $100M mansion overlooking Central Park? Fine -- she can go out and earn the money to buy it at the estate sale. You already gifted her a Harvard degree and your Rolodex -- that should be enough.
Meritocracy. It's what's for dinner.
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