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> I'd look to lower the inheritance to children to say 10% and abolish trusts that fund generations of lazy, spoiled brats living from their great-great-grandfa

> I'd look to lower the inheritance to children to say 10% and abolish trusts that fund generations of lazy, spoiled brats living from their great-great-grandfather's money. Exactly, these leeches have to be stopped. And the money could be instead put to some good common like free college, health care leveling the playing field for everyone.

Camillo 9y ago
The last thing America needs is more college.
gambiting 9y ago
Out of curiosity - let's say I was rich and wanted to set up a trust fund for my children so they could live like spoiled brats their entire lives. Why, especially in the "land of the free" would people want to stop me from doing so? I mean, it's my choice what I do with my money(that was legally earned and that I paid taxes on), is it not? This is purely theoretical, as I am neither rich nor have children, but I take some issue with people saying that kids living off trust funds are "leeches" - it was their parents choice to spend money this way, so what is wrong with that?
- CPLX 9y ago
  Nobody wants to stop you from doing it. They want your kids to pay taxes on it. That's different. If I go to work this year and get $100,000 for doing stuff, nobody seems confused that I have to give a massive chunk of that to the government. So if you don't go to work this year but get $100,000 from your parents, you shouldn't act confused that people expect to cough up your share as well. When families transfer money to the next generation it changes hands. The way we finance our society, generally, is that when money changes hands a substantial portion of it is remitted in tax. So you already paid taxes on it, sure, but that's irrelevant, your kids didn't. When you give money to your nanny or your driver they have to pay taxes. When you buy dinner at a restaurant the chef has to pay taxes. So when you give it to your kids they should pay taxes on it too. Because when people get money they have to pay taxes on it. That's how taxes work. The real question is why the rich kids think that the specific way they get their money is special and shouldn't be taxed.

Camillo 9y ago

The last thing America needs is more college.

gambiting 9y ago

Out of curiosity - let's say I was rich and wanted to set up a trust fund for my children so they could live like spoiled brats their entire lives. Why, especially in the "land of the free" would people want to stop me from doing so? I mean, it's my choice what I do with my money(that was legally earned and that I paid taxes on), is it not? This is purely theoretical, as I am neither rich nor have children, but I take some issue with people saying that kids living off trust funds are "leeches" - it was their parents choice to spend money this way, so what is wrong with that?

CPLX 9y ago
Nobody wants to stop you from doing it. They want your kids to pay taxes on it. That's different. If I go to work this year and get $100,000 for doing stuff, nobody seems confused that I have to give a massive chunk of that to the government. So if you don't go to work this year but get $100,000 from your parents, you shouldn't act confused that people expect to cough up your share as well. When families transfer money to the next generation it changes hands. The way we finance our society, generally, is that when money changes hands a substantial portion of it is remitted in tax. So you already paid taxes on it, sure, but that's irrelevant, your kids didn't. When you give money to your nanny or your driver they have to pay taxes. When you buy dinner at a restaurant the chef has to pay taxes. So when you give it to your kids they should pay taxes on it too. Because when people get money they have to pay taxes on it. That's how taxes work. The real question is why the rich kids think that the specific way they get their money is special and shouldn't be taxed.