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People loudly decry inherited wealth because it is anti-meritocratic and we're raised with delusion that our system is ostensibly one where wealth is related to
by AnIdiotOnTheNet 5y ago
People loudly decry inherited wealth because it is anti-meritocratic and we're raised with delusion that our system is ostensibly one where wealth is related to merit.
- DamnYuppie 5y agoNearly 78% of all millionaires in the US are first generation.
- shadilay 5y agoMost peoples biggest asset is their home which just costs more in property taxes and doesn't provide much benefit because they still need a place to live, preferably near their workplace.
- deleted 5y ago[deleted]
- DamnYuppie 5y agoI don't understand what this comment has to do with mine. Most people are not millionaires, there looks to be around 10.5M in the USA as of March 2020. https://spectrem.com/Content/millionaire-count-reduces.aspx https://spectrem.com/Content/millionaire-count-reduces.aspx
- EEREPRESENT 5y agothere is no reason to work hard at anything if u cant leave it to the family. else i will collect unemployment and smoke weed all day
- deleted 5y ago[deleted]
- thewebcount 5y agoI don’t get what you mean. I have no children, am in my 50s, and still try to maximize my wealth to the extent possible while still having the particular lifestyle I like. I work hard because it’s fulfilling and I work to generate wealth so I’m not screwed over after one health mishap.
- entangledqubit 5y agoI suspect that most people decry subsidized inherited wealth through things like stepping-up the cost basis for inherited wealth. Generally, I don't think people have a problem with parents giving their kids gifts in some form - though I do acknowledge that there probably is some notion of what is considered a (un)reasonable upper limit.