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The Greatest Wealth Transfer in History Is Here, with Familiar (Rich) Winners

nytimes.com

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Re: The Greatest Wealth Transfer in History Is Here, with Familiar (Rich) Winners

#171

Post by hitekker »

rayiner wrote: post #128
tptacek wrote: post #107

Earlier quoted context omitted.

No. The issue you're advocating for is coded in literally the opposite way as you suggest it is. The opponents of DEI are the principal opponents of inheritance taxation. Well-educated and/or top-quintile professionals are also drastically more likely to support inheritance taxation (as a consequence of 21st century educational polarization). I don't think there's any meaningful connection between institutional DEI a…

> don't think there's any meaningful connection between institutional DEI and economic justice DEI is how the upper quantile has co-opted economic justice rhetoric while entrenching itself in economic sectors (finance, tech) and behind policies (immigration) that deepen economic divides. It’s Wall Street’s brilliant makeover (in response to 2008), which has created a national conversation wherein being a racist plumb…

This is a cogent analysis. To go further: I've noticed that rich, white tech professionals gravitate to social causes that pay lip service to economic equality, but only demand action on race. The mis-priorization and pretense you speak serves as a useful self-deception. Disclaim their own race, because they're already on top, and protect the wealth they've accumulated and now identify with.

Re: The Greatest Wealth Transfer in History Is Here, with Familiar (Rich) Winners

#172

Post by freejazz »

rayiner wrote: post #39

If you taxed boomer-> millennial inheritances at just 25% you could completely eliminate the black-white wealth gap in the next couple of decades. There’s a reason that affluent white people are talking about DEI, and not raising our absurdly low inheritance taxes.

By this logic, you go around here posting about the perversion of western societies in comparison to asia, only because you yourself are a pervert and are trying to hide that fact.

Re: The Greatest Wealth Transfer in History Is Here, with Familiar (Rich) Winners

#173

Post by readthenotes1 »

drewcoo wrote: post #116
readthenotes1 wrote: post #90

Earlier quoted context omitted.

That sounds fair and reasonable when you're talking about stocks, but if you talk about a small family farm who's owners typically have very little capital other than the land, are you proposing that they sell the farm in order to keep it?

All of the "small family farms" I'm aware of personally here in farm country are incorporated. I think you need a better straw man.

Not the one I know.

Re: The Greatest Wealth Transfer in History Is Here, with Familiar (Rich) Winners

#174

Post by readthenotes1 »

CPLX wrote: post #104
readthenotes1 wrote: post #90

Earlier quoted context omitted.

That sounds fair and reasonable when you're talking about stocks, but if you talk about a small family farm who's owners typically have very little capital other than the land, are you proposing that they sell the farm in order to keep it?

Exempt the farm from taxes if you like farms. Whatever. That’s a public policy choice. But don’t say we’re talking about a fucking farm when you’re advocating for no taxes on a diverse network of private equity positions and real estate holdings.

Don't assume you can read "fucking" more into what I wrote than what I wrote and cast your anger on me.

It's all public policy choice, and if you think that it's simple, than lay it all out for us after you've considered all the consequences (immediate, secondary, "unintended", and unintended) and get back to us.

Re: The Greatest Wealth Transfer in History Is Here, with Familiar (Rich) Winners

#175

Post by readthenotes1 »

maxerickson wrote: post #115
readthenotes1 wrote: post #90

Earlier quoted context omitted.

That sounds fair and reasonable when you're talking about stocks, but if you talk about a small family farm who's owners typically have very little capital other than the land, are you proposing that they sell the farm in order to keep it?

A $12 million family farm may be stretching the definition of 'small'. Like it would be pretty amazing if that value was just due to land appreciation and had nothing to do with their management and investment decisions.

like, maybe? What are the demographics?

The one I know intimately is worth less than $1m for the land. I believe there are far fewer of those left than in 1960, but my perception is there are still quite a few.

Re: The Greatest Wealth Transfer in History Is Here, with Familiar (Rich) Winners

#176

Post by readthenotes1 »

Incipient wrote: post #133
readthenotes1 wrote: post #89

Earlier quoted context omitted.

And yet what is a government except people who are doing what they can to maintain the power they have?

Oh yeah when thy rich can mostly openly, or at least legally, buy politicians nothing will change. I hope the US can pull themselves out, but everyone seems stuck quibbling over the extremes of minor issues, rather than important difficult topics.

Or worse, quibbling over minor issues to avoid settling important problems so that there's a platform to motivate votes
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