It still needs to be repeated over and over since people are absolutely opposing a higher inheritance tax thinking it would influence them inheriting their grandma’s house because that’s how those populists are usually spinning it…
Life kinda sucks, wealth insulates you from the worst of it, and affords you more opportunities.
If you’re rich you can become an actor, poet, artist, writer, athlete, journalist, doctor, academic, etc. No coincidence that people in these fields are disproportionately from well off families who were able to support them.
Without wealth, a lot of those careers and opportunities are closed to you, and you end up doing dead end jobs, even if you have far more potential. Not that surprising that rich people who love their kids (and grandkids) would want them to have that opportunity.
Of course, too much money can also fuck you over, so perhaps Bill Gates has the right idea in not giving his children too much, and donating most of his wealth.
It’s also quite obviously not fair. Some fields are dominated by defacto aristocracy, and it is to the detriment of society that it isn’t truly meritocratic, but I get why their parents want to give them that opportunity.
I feel like it’s less of a surprising thing and more of “you might not have realised or thought about it but it’s shaping the world around you” thing.
Of course long term generational wealth is not anything new. But the implication here is that this involves some new dynamics. The hyper wealthy becoming generational. Maybe some post-WWII wealth settling into generational wealth leading to the reinstatement of aristocratic patterns that were perhaps disrupted by the great depression and world wars but now exacerbated by the gilded tech age.
Why is this a surprise, exactly?
It still needs to be repeated over and over since people are absolutely opposing a higher inheritance tax thinking it would influence them inheriting their grandma’s house because that’s how those populists are usually spinning it…
Ikr? Everyone today grinding for that “generational wealth” and I honestly don’t see why. Do people really want more spoiled brats in the world?
You seem to be mistaking a chance to give your family a place to live with whatever the fuck a billion is supposed to offer them.
Some kids want to become actors, some kids want to eat people.
Why deny your grandchildren their dreams?
Life kinda sucks, wealth insulates you from the worst of it, and affords you more opportunities.
If you’re rich you can become an actor, poet, artist, writer, athlete, journalist, doctor, academic, etc. No coincidence that people in these fields are disproportionately from well off families who were able to support them.
Without wealth, a lot of those careers and opportunities are closed to you, and you end up doing dead end jobs, even if you have far more potential. Not that surprising that rich people who love their kids (and grandkids) would want them to have that opportunity.
Of course, too much money can also fuck you over, so perhaps Bill Gates has the right idea in not giving his children too much, and donating most of his wealth.
It’s also quite obviously not fair. Some fields are dominated by defacto aristocracy, and it is to the detriment of society that it isn’t truly meritocratic, but I get why their parents want to give them that opportunity.
I feel like it’s less of a surprising thing and more of “you might not have realised or thought about it but it’s shaping the world around you” thing.
Of course long term generational wealth is not anything new. But the implication here is that this involves some new dynamics. The hyper wealthy becoming generational. Maybe some post-WWII wealth settling into generational wealth leading to the reinstatement of aristocratic patterns that were perhaps disrupted by the great depression and world wars but now exacerbated by the gilded tech age.