4 ms·

I’m in the USA but if I don’t put my house into trust for my kid then he has to go through probate and spend tens of thousands to get it when I die. I agree cor

by ok_dad 3y ago

I’m in the USA but if I don’t put my house into trust for my kid then he has to go through probate and spend tens of thousands to get it when I die. I agree corporations and investors shouldn’t own houses just for investment purposes, but you also need some amount of rentals allowed because not everyone wants to buy a home. I’m not sure where it is, but there’s a fine line separating the moral investment into houses from immoral rent seeking.

nine_zeros 3y ago
> I’m in the USA but if I don’t put my house into trust for my kid then he has to go through probate and spend tens of thousands to get it when I die. And that's by design. Every human coming into the planet should start from a reasonably same starting point. By not taxing inheritance, the super wealthy's children start much further than the children born to non-wealthy families. The tax on inheritance is the best way to ensure that there is "some" inheritance but not enough that the children start at a starting point that is insanely ahead of others.
- roody15 3y ago
  Hmm maybe but that puts a lot of trust in the system. Do you think taxing inheritance will result in the democratizing of said assets to society at large? Looking at the last three decades I see wealth just accumulate in mega corporations who now seem to operate at levels above that of many nation states. Large banks that can demand bailouts and demand “quantitive easing” which simply aggregates wealth in these banks and corporations. Literally transferring wealth from the bottom to the top by government decree.
  - nine_zeros 3y ago
    At a minimum, the taxation will allow payment of debt incurred by the parent's generation. That's a reasonable outcome for inheritance taxes.
- WentFullRetard 3y ago
  [dead]
AlbertCory 3y ago
"rent seeking" as an economic term has nothing to do with house or apartment rentals.

by ok_dad 3y ago

nine_zeros 3y ago

> I’m in the USA but if I don’t put my house into trust for my kid then he has to go through probate and spend tens of thousands to get it when I die. And that's by design. Every human coming into the planet should start from a reasonably same starting point. By not taxing inheritance, the super wealthy's children start much further than the children born to non-wealthy families. The tax on inheritance is the best way to ensure that there is "some" inheritance but not enough that the children start at a starting point that is insanely ahead of others.

roody15 3y ago
Hmm maybe but that puts a lot of trust in the system. Do you think taxing inheritance will result in the democratizing of said assets to society at large? Looking at the last three decades I see wealth just accumulate in mega corporations who now seem to operate at levels above that of many nation states. Large banks that can demand bailouts and demand “quantitive easing” which simply aggregates wealth in these banks and corporations. Literally transferring wealth from the bottom to the top by government decree.
- nine_zeros 3y ago
  At a minimum, the taxation will allow payment of debt incurred by the parent's generation. That's a reasonable outcome for inheritance taxes.
WentFullRetard 3y ago
[dead]

AlbertCory 3y ago

"rent seeking" as an economic term has nothing to do with house or apartment rentals.