Poll: Inheritance

[Lord Krunk]

I was looking at Indigo Dingo's thread [http://www.escapistmagazine.com/forums/read/18.97130] a while ago, and brought up some issues, mostly regarding the parasites that are today's rich (or most of them anyway).

Now, I am an advocate of people who work for and earn their livelihoods, and despise (mostly out of jealousy) those that did not and do not need to work because they have been born to their money and status. This is mainly because all they do is lounge around when they could be using their money to do something useful.

It brings me to this subject: What is your opinion on inheritance? What will you do with your worldly possessions? And what do you think of the lucky bastards that were born to an upper-class society?

Shoot.

Personally, I would do a Willy Wonka-style testing scheme in order to sort out what goes where, depending on intelligence, interest and nature.

 

[Sane Man]

Well, in a free society you are "free" to do whatever you want with your money. The vast majority of wealthy people are not simply trust fund babies.

I'd leave it to my children, as most do. The whole point is to create and foster an easier life for the new generation through wealth (and I don't mean simply monetary wealth).

Lastly what do I think of them? Well, I have matured enough to realize life isn't fair. I think I learned that at age 3 and ever since then have strived to make a better life for myself and those I care about. It's literally that simple.

 

[RavingPenguin]

Willy Wonka style testing, it would include the best mindfucks I could think of, and at the end everyone would fail! HAHAHA! then all the contestants play jenkin to pick the winner, just to screw with them even further.

 

[Chibz]

My worldly possessions will go to research, to try to harness their power to DESTROY THE WORLD!

 

[DoctorNick]

If I have kids, then them. If I don't have kids, then my niece.

 

[Lord Krunk]

Lastly what do I think of them? Well, I have matured enough to realize life isn't fair. I think I learned that at age 3 and ever since then have strived to make a better life for myself and those I care about. It's literally that simple.

I understand that, but where would you prefer all the riches in the world to go? A creative genius or a lazy idiot?

That's more of the standpoint that I have. I would not want someone to have my stuff 'because they were there', but to have a good self-assurance that it's in the right hands.

 

[Sane Man]

Lastly what do I think of them? Well, I have matured enough to realize life isn't fair. I think I learned that at age 3 and ever since then have strived to make a better life for myself and those I care about. It's literally that simple.

I understand that, but where would you prefer all the riches in the world to go? A creative genius or a lazy idiot?

That's more of the standpoint that I have. I would not want someone to have my stuff 'because they were there', but to have a good self-assurance that it's in the right hands.

Most "rich people" are exactly that, creative geniuses. The vast majority have created something, or managed a business so well they got to where they are today. Very few were born into it. I agree, I'd love it if more people were interested in creating new ideas for products or services.

However, it is ultimately up to the individual. It's a slippery slope if you try and stop anyone from doing something like that. Perhaps people will decide one day they do not enjoy us posting on The Escapist because we could be using that time to go save children from burning houses or help police the neighborhood for potential sexual abuse offenders.

 

[DoctorNick]

I guess I should have read the opening post closer.

It is my opinion that after money has been earned and taxed, that should be the end of the governments involvement of it. Who someone chooses to give their money to and how is their business alone.

Even if this does create trust fund babies I still find it hard to care because as I said before, it's not my business. They can only be called leeches if they are extorting money somehow from people who are being productive, if not, then lazy yes, but not leeching.

Even if they were just handed a giant pot of money in the bank and just sit on it, that's still a good thing because then the bank has more capital to invest and to lend out to people, thus creating a net positive on the economy.

 

[Skalman]

I'd give them to my closest relative. Now I don't plan on ever having kids so..

 

[Lord Krunk]

Lastly what do I think of them? Well, I have matured enough to realize life isn't fair. I think I learned that at age 3 and ever since then have strived to make a better life for myself and those I care about. It's literally that simple.

I understand that, but where would you prefer all the riches in the world to go? A creative genius or a lazy idiot?

That's more of the standpoint that I have. I would not want someone to have my stuff 'because they were there', but to have a good self-assurance that it's in the right hands.

True, but then there's the next generation. Globalisation is a relatively new concept, and there is only so much money in the world. Now, the first generations to have the stock exchange spent all their money on assets, and left these assets as inheritance. What has resulted is inflation due to a lack of housing and space, and money being put in the wrong places. The result? Isn't it obvious? [http://en.wikipedia.org/wiki/The_great_depression]

Now, many people have had great ideas, but few of them have been able to get it off the ground. Some were early to the party [http://en.wikipedia.org/wiki/Bill_gates] and some just did something that had been done before, but did it right [http://en.wikipedia.org/wiki/Bungie]. Now, with these creators' children running their businesses (or just nicking revenue off them; same thing really), some may actually do a good job of it and some might turn it (or their family name) into something despicable [http://en.wikipedia.org/wiki/Paris_hilton]. Mostly, it's the latter category.

This is my problem. With the world's money being forked over to a bunch of morons that never earned it in the first place, this has created a huge issue. People have begun selling commodities that don't exist, and the result is the economic impact were feeling right now.

If I were ever to make it big time, I'm going to make sure it all goes to someone, or a cause that counts for something other than the front page of .

 

[Matronadena]

my 9 year old is already asking what " so far" is left for him >.<

 

[AndyFromMonday]

No one, 'cause they are all greedy little shits. They want cash? Work for it.

 

[fix-the-spade]

Wife/kids/grandkids (assuming I last that long and procreate)

In practice though, inheritance is no substitute for a family member.

 

[Sane Man]

Lastly what do I think of them? Well, I have matured enough to realize life isn't fair. I think I learned that at age 3 and ever since then have strived to make a better life for myself and those I care about. It's literally that simple.

I understand that, but where would you prefer all the riches in the world to go? A creative genius or a lazy idiot?

That's more of the standpoint that I have. I would not want someone to have my stuff 'because they were there', but to have a good self-assurance that it's in the right hands.

True, but then there's the next generation. Globalisation is a relatively new concept, and there is only so much money in the world. Now, the first generations to have the stock exchange spent all their money on assets, and left these assets as inheritance. What has resulted is inflation due to a lack of housing and space, and money being put in the wrong places. The result? Isn't it obvious? [http://en.wikipedia.org/wiki/The_great_depression]

Now, many people have had great ideas, but few of them have been able to get it off the ground. Some were early to the party [http://en.wikipedia.org/wiki/Bill_gates] and some just did something that had been done before, but did it right [http://en.wikipedia.org/wiki/Bungie]. Now, with these creators' children running their businesses (or just nicking revenue off them; same thing really), some may actually do a good job of it and some might turn it (or their family name) into something despicable [http://en.wikipedia.org/wiki/Paris_hilton]. Mostly, it's the latter category.

This is my problem. With the world's money being forked over to a bunch of morons that never earned it in the first place, this has created a huge issue. People have begun selling commodities that don't exist, and the result is the economic impact were feeling right now.

If I were ever to make it big time, I'm going to make sure it all goes to someone, or a cause that counts for something other than the front page of .

The selling of commodities that do not "exist" is not how we arrived here in the US quasi-recession, but I do not want to turn this into another economic debate. If you are interested in my views on economics there was a huge post titled "The Future of the United States" and you can find out all what I believe on that issue.

I don't care if you think morons get money, or if morons have a better life than you. I really don't. There are only two options. They can have that life because they were fortunate (again, the VAST MAJORITY of wealthy individuals earned it, STOP IGNORING THIS IT IS DRIVING ME INSANE) and their parents afforded it to them. They can do whatever they want, from an economic standpoint the only hurtful thing they could do really is to burn it with gasoline, they still provide in minimum on consumption spending.

The other option, is you can bring in a government agency, give them expanded power so they can hunt down these "morons with money" and force them to give it over to whoever they "deem" to be important enough to use it wisely.

If you think in the latter, I do not respect your opinion whatsoever. However, I believe we have the same idea it is just not being communicated to either of us well enough. We may all want things to happen, but that will not make it so. Freedom allows us to do the most with what we have, it does not guarantee it. I agree that I wish people took personal responsibility and to go on and do great things. That is not always the case. Who cares if Paris Hilton is rich (and actually, she provides a lot more to the world economy than either of us combined quite easily) and does whatever she wants. Just know in your heart you had to grow as a person more than her, and move on. Jealously is not a good thing to have.

Lastly, Globalization is not a new thing at all (unless you are using it into the context of human history). The Austrian Economic school of thought as well as Suppy-Siders have been toting about the world economy for near a century.

 

[Lord Krunk]

snip

I was taking into account human history, thank you for picking up on that.

Just as closure, I wasn't ignoring your comment on 'most people earning it', but the topic of the thread is inheritance, and I was sticking to it rather than elaborating on your point.

I do agree with you in many respects, but I really think that a lot of the money up top could be used for something less... shallow, and more productive.

 

[Sane Man]

snip

I was taking into account human history, thank you for picking up on that.

Just as closure, I wasn't ignoring your comment on 'most people earning it', but the topic of the thread is inheritance, and I was sticking to it rather than elaborating on your point.

I do agree with you in many respects, but I really think that a lot of the money up top could be used for something less... shallow, and more productive.

Ha wow I was just about to sign off and refreshed and you just posted something.

Yeah, I agree that a lot of those people that live life that way (the trust fund babies) certainly could spend it better, but I don't want to force them to do anything.

But hey, if you ever come up with a private enterprise that gives incentives for rich lazy socialites to utilize that capital to create a businesses you let me know, I'll be your right-hand man.

 

[Lord Krunk]

snip

I was taking into account human history, thank you for picking up on that.

Just as closure, I wasn't ignoring your comment on 'most people earning it', but the topic of the thread is inheritance, and I was sticking to it rather than elaborating on your point.

I do agree with you in many respects, but I really think that a lot of the money up top could be used for something less... shallow, and more productive.

Ha wow I was just about to sign off and refreshed and you just posted something.

Yeah, I agree that a lot of those people that live life that way (the trust fund babies) certainly could spend it better, but I don't want to force them to do anything.

But hey, if you ever come up with a private enterprise that gives incentives for rich lazy socialites to utilize that capital to create a businesses you let me know, I'll be your right-hand man.

Don't worry, all I have to do is set up a brainwashing company. Should be simple, right?

But I am glad that you see where I'm coming from.

 

[Willwillwritehiswill]

I'm giving all my worldly posessions to Peter Gabriel.

He deserves them.

 

[Quick Ben]

Giving it all to the eventual building of a Death Star. I remember someone finding out how much it would cost, and it was expensive... Everyone needs to contribute!

 

[Crystal Cuckoo]

My kids... If I had any.
If I were receiving it, I'd just stuff the money in my super and never look at it again until I were 60.