So kids of the rich cant slack off making shitty videos/instagram to be famous
I agree with this proposal, though it would be tricky to implement as there would likely be a to of loopholes. It's funny how people want to pretend that America is the land of equal opportunity, when we have plenty of data that shows that your success is highly correlated to the success of your parents. You can be against this proposal, but please stop pretending that success is merely a result of hard work.
Agreed
I don't know... That kind of defeats the purpose of capitalism. I know the rich kids don't deserve it, but that's a mere side effect of rich parent's decisions. If you can't pass down wealth, why work hard to accumulate in first place? Now you're back to socialism problems, which in my opinion is totally unsolvable. It's just human nature.
Its not a mere side effect, its a plague. Exactly it provides less incentive for a person to be greedy and over produce. Human nature is to consume the resources of the earth, if all the wealth of the rich cant replace those resources of the earth, no point hoarding it. Money was created to represent the current production, now we produce to represent the wealth hoarded by the rich
Being greedy is exactly what makes people and society thrive. If you put restrictions on that it won't anymore. Greed itself is a human nature, you can't really suppress that unless harmful. And what you are suggesting is very much debatable depending on level of wealth.
Go F yourself Bernie!! I have nowhere close to 100 million but if someone has it, no way should the govt be able to reach in and take it.
Both strict socialism and extreme wealth inequality leave the oligarchs with everything and the populace with nothing. So your proposal will work as poorly as his. I do support a good level of inheritance, maybe an annuity? Hard to know but maybe $50 million adjusted for inflation plus a fully paid primary home?
If I earn my money and pay taxes on it, I should be able to do whatever the hell I want with it Burn it, spend it, donate it or give it to my kids. Mind your own business
The intent is to not provide incentive to over produce through a person’s life time
Why not? What moronic thinking Meh I made enough with windows 95, why go any further ... bill gates Where would technology be if that was the mindset Dude seriously
What does it mean to overproduce? Putting aside leeches (that leverage loopholes to make their money), it is our best interest, as a society, to keep the top talent incentivized to innovate and to use their wealth to build new things instead of spending it all on palaces around the world
Good point, honestly no true wealth can be hoarded if you think about it, the palaces/diamonds/art dont feed people. Innovation should be about things that are in the long term best interest of the humanity, not the ones that are in the best interest of the wealthy.
Agree
Trickle down economics doesn't work. Surely there is a tipping point in society where wealth can be too concentrated.
Interesting. Is there a country that is more supportive of your ideals in this area that you could migrate to?
Nope, mars isn’t an option yet, although i think, the rich would conquer that too😀
The very thing that makes America so great is that we have the freedom to debate these ideas and advocate for them. I'm really really tired of people resorting to "Don't like it? You should leave!". That's not productive and it's anti-american.
And what, incentivize under achievement? I encourage you to google why communism failed.
I encourage you to realize how capitalism has enslaved you and your lineage to over production and consuming worthless shit.
You know what else also incentivizes under achievement? The real data that shows that even with a great work ethic and tremendous hard work, there is still only a tiny chance that you will be able to change your circumstances. https://www.forbes.com/sites/aparnamathur/2018/07/16/the-u-s-does-poorly-on-yet-another-metric-of-economic-mobility/#325c9d1c6a7b
“Hoarding” implies that there’s a finite supply of wealth, as if it somehow prevents someone else from being wealthy. That’s not at all how economics works.
Alright tell me how economics work, are you saying there is unlimited supply of all the natural resources we’ve been consuming?
Why should you be forced to give the wealth you’ve accumulated over the course of your life to the government? Anything over what point are you talking about? I think it’s a very different convo between all wealth, 1m, 10m, and 100m+. In either case though why should the gov decide how to split up what you’ve built over the course of your life? How about family businesses? Businesses that may be valuable or have valuable assets but cash poor? Do you expect every generation not to benefit from the hard work of their ancestors?
Yes, everyone alive consumes resources and need to produce something meaningful to consume the resources, no person can slack off because of wealthy rich ancestors, most wealth of today is accumulated through generations by people who stole it from poor nations, especially the huge amounts of wealth in the west
Spoken like a poor person with rich people envy