inheritance
Should passing down an inheritance be not allowed?I heard a person on the news make that suggestion, inheritances should not be passed down to the family....or anyone. I am assuming the government would gain control of it.
What do you think?
I would say, with a NON-CORRUPT government, we would not have 1% of the people owning such a large portion of the wealth of our country.
I would think that business owners would have a great incentive to reward their employees well.
I would think that there would not be one single hungry mouth to feed or one homeless person.
I would think that our infrastructure would be top notch.
I would suspect there would be a smaller portion of unhappy people...due to stress with money issues.
At first, this idea sounds crazy....as does anything that creates change has the potential of doing. But, what would it mean overall for a society?
Comments (34)
...and no, hes parents are still happily allive...
if it`s about filhty rich companies, theres alwayes tax-laws that can be invented...(probably allready exists, but the politichans are too corrupt or yellow to use them)...
In a corrupt world, I totally agree with you.
...I miht sound cynical , but I haven`t heard about any un-corrupted government anywhere... not even here!
(even if the politichans would swear this issn`t true....)
but if we lived in paradise, it wouldn`t be an issue anyway, because then people would care for eachother,
and shere...
Terrible Idea!
So you work hard, make your money grow, and if something happens to you, and if you have children doing well, and after you pass, they get nothing? They become poor, seeking help from someone or agencies? They grow up saying, "We lived poor as children because our dad left us nothing to keep living on."
The government gets lots of money. They use lots of money in the wrong places too. Think of it, there are lots of Military veterans, our countries true heroes, some very much disabled, trying to get their monthly disability checks from Veterans Admin increased to livable standards at least, because they get very little. So, because VA wont do it, or makes it tough for them to get help, organizations like Wounded Warriors had to be formed to help them. While politicians splurge, while government agencies splurge?
I know of lots of government granted agencies and departments, who right at the end of their fiscal year, make sure they spend every cent they were granted. WHY? Because if they spend less this year than last year, the government will give them less the next fiscal year.
I think if all government agencies were made to be accountable for every penny, the government would have more funds to help areas where really needed.
As for inheritance? That's a family matter, a very private and personal matter. It should left as such.
Just my two cents opinion.
To have everyone care for everyone would be a world almost impossible to imagine...given the one we have right now.
It seems, from history, that power does corrupt. Maybe with this inheritance concept, a different way of governing would also need to be implemented.
Thank you.
I think it is up to each individual to decide who they leave anything to I always told my parents to enjoy whatever they had themselves, they worked for it all of their lives, so they should spend it.
There should be no feeling of entitlement to anything by the children.
I understand your point of view. That is the same view I have heard before, from somebody else. Most likely, we a corrupt form of governing, that would be the outcome.
As far as the family members potentially living in poverty, that could...I suppose...happen, depending on how the new social financial structure is designed. If the 1%er's money is back into society, there would be plenty of money to provide comfortable living for everyone.
When it comes to the inheritance receivers, if they were taught how the fish, they should succeed in life rather well.
I think the system we have now perpetually benefits only a select few, due in large part to the dump truck loads of money they get handed. It helps to keep the rich, rich and the poor, poor.
Thank you for sharing your point of view. That is why I figured I would post this blog, I think there is some good debatable points to the overall concept.
What was the channel you seen that on, Interesting stuff. I sure would like to hear it.
with a NON-CORRUPT government
One of the guest brought it up recently on MSNBC. (yes...a very Democratic leaning news network).
I agree about the non-corrupt government. Just thinking about the concept of that....exactly how you put it...is very laughable.
Given the way we as a society have been living our lives, I agree...they have no business at all.
But, are there some flaws in our capitalistic society that are flawed because of the passed down wealth?
I would say...very possibly.
My opinion anyway.
Thank you.
That is fair.
But...I would say the same to you as I just responded to Lindsy (SR).
Thank you.
We live in a very unequal world, and becoming more unequal each day.
I would agree, given the way the government is structured right now....there would be many loopholes that would need to be closed.
I kinda see it the same way. The rich are getting richer...we hear that statement almost on a daily basis. The majority of their wealth is being made on the backs of the non-powerful (common folk). I don't mean that to demean the common folk. I am part of them. If I were given billions of dollars, I am sure I can become elite really quick....own many successful businesses by hiring qualified people (and paying them minimally as possible)....and enjoying the finest caviar on the most luxurious yahts on a daily basis.
Good point, and so true. To implement such an idea would also mean making a huge overall to our society as we know it. Hmmm....this is getting more complex as the time goes on.
I wonder if there was such a way of living in our past history a person could reference to see how it worked out. Or, if there is a psychic that could does some seeing in the future with this social structure.
It was run by the employees, they owned it.
And the basic system was that the senior people could not earn any more than 5 times the rate of the lowest paid employee.
That way, everybody worked harder to ensure they all got paid better, yet there was no inequality.
That sounds like a decent way on how to set up a business....creating much better fairness for everyone and motivation.
GJ,
Thank you for your opinion.
My mother who is 89 and has put in her Will to leave me and my brother some money and personal property.
Am I to feel wrong for taken what my mother is going to leave me, or should I give it away or let the Government have it. They way I look at it is she is going to leave this to me and brother.
A Rob, you are completely right if a Government Agency does not use up there money for the fiscal year they will loose money the next year. Here in Florida someone told me that worked for the State that at the end of the year they went out and bought new furniture, computers, desk and what ever else they could buy, just to keep from loosing money What a shame.
@ Molly. yes the Government already does get a big enough cut from the inheritance tax. I have to admit I am not up to date on the so call death tax, But on the Insurance policy I will have to pay 10 to 20 % of tax not sure which one. so the Government is going to gain either way. I know this is not about inheritance but when I pulled my 401k I had to pay 20 % tax on it. yes the Government is going to get something no matter what.
Just pass by to say Hi
Under many different circumstances, yes.
Some examples of the circumstances:
Non-corrupt gov.
Everybody was held to do it...with no loopholes.
There is a solid social structure that benefited everyone.
Nice to see you.
Yes, I am bit of a dreamer. I would think for it to work, it would certainly take a dream.
Well put about the reality of life as it stands today with inheritances. I agree with what you say. To me though, what you say might be a good supportive argument for relinquishing inheritances.
We are lead to believe that all men (and women) are born equal. I wonder if there is a difference of one born in poverty and one born into billionaire status.
All valid points. I do agree, there would be many loopholes people would discover on how to cleverly pass their finances along while they are still alive. That would need to be addressed in order for this idea to have a fighting chance of even working.
Regarding the motivation of building a legacy. Perhaps leaving a legacy is part of the problem and subsequently the reason for the need for such a law?
You are right about politicians being voted for who support this. In order for them to get something this novel to even think about passing, they would need to present a very simple breakdown of how this will all work, address the skepticism of loopholes, and inform the country on the complete benefits. If this were to be implemented, it would take many years to slowly warm the public up to the idea.
IMO
That makes me think. It is said that the average credit card debt is $20K per card holder. I wonder how that would work in this non-inheritance plan.