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8/16/2013 1:04:51 AM
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Should people be able to inherit money?
So even if we accept the notion that all billionaires have fairly earned their wealth, and have a right to keep it, what right do their children have to it? By the narratives that Capitalism embraces (the self-made man) this seems incredibly wrong. You could argue that it's what the rich person wants to do with their money, therefore they have a right to do it, but this virtually guarantees that people will become wealthy without ability (something "self made-men" claim doesn't happen).
Some states and provinces have taxes on inheritance. Do you think this is correct, should be taken farther, or abandoned altogether? Does the answer change based on the age of the recipient?
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I'm pretty sure that was the original idea behind parenthood in America. You work hard, make a solid living, save your money, and help your children grow up. When you die, they get your money to help further the living of their children, and so on.
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Sure. If we got rid of legal inheritance or started heavily taxing it based on the same principles we'd have to do away with divorce settlements and imagine the hub-ub about that.
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Inheritance tends to reinforce the status quo and perpetuates inequality, but realistically, I'm in favor of a graduated tax on inheritance.
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If its from a family member then yeah.
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Capitalism allows for people to spend their money how they want. If a person wants to give their money to their family, they absolutely have a right to it. Nothing about capitalism says that money [i]has[/i] to be earned. The lottery is still part of a free market.
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[quote]You could argue that it's what the rich person wants to do with their money[/quote]That's it, at the end of the day. It's their money, they do whatever the -blam!- they want with it.
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What right would anyone else have to it, then?
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Yes, all of it. Inheritance tax is disgusting. What is the point of working hard to provide for a family if the government robs you from the grave? Families [i]used[/i] to work together and look out for each other, the wealth generated by one generation then passes to the next making the family stronger. It shouldn't be some sort of default tax on death crap. When it comes to billionaires and inheritance, I could understand some sort of tax on that because having more money than you can spend in 5 lifetimes is absurd. But taking 40% of a person's estate as tax is >,< grrrrw. Sorry but that really pisses me off a lot.
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So would you rather the money be burned?
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4 RepliesAbsoutley. I know tons of people who save money for their family for when they pass away.
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Where else would the money go? I don't think taking a dead mans money and giving it to the government is better. If they earned the money, they can do what they want with it.
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How about having the kids earn the right to keep it?
