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New Sorry Ben, Ascribed a quote from Todd to You
"Sorry man, while you live, you play and maybe win. When you die, it all goes back to the banker for the next round."

That is the Idea that there is no personal ownership of wealth, its a loan from the government. Now I do not expect to be hit when I die and my Ma had to scrub floors to pay off the old mans owes and doughs but I firmly believe that mismanages wealth shrinks not grows and a new better viking will inherit thru business cutthroatedness and I want a chance for my Kids to have a shot.

From observation I think it is 6 generations. New Wealth, growth, stodgy conservative, dissapation, growth. How is Mrs Ford and all the little Fords doing? 60 years they will be begging for a floor spot with the UAWSPD. United Autoworkers Space Division.
thanx,
bill
Any opinions expressed by me are mine alone, posted from my home computer, on my own time as a free american and do not reflect the opinions of any person or company that I have had professional relations with in the past 50 years. meep
New I don't think that's the "banker" he meant
It sounded to me more like, "You can't take it with you."
===

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New maybe not but the freekin local squire with his hand out
shouldnt get shinola and all the posturing about, well we have to ensure... etc is that these people dont have a clue about what is MINE! Private! I already paid you fucks!
thanx,
bill
Any opinions expressed by me are mine alone, posted from my home computer, on my own time as a free american and do not reflect the opinions of any person or company that I have had professional relations with in the past 50 years. meep
New What are you gonna do with it
from a hole in the ground?



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New I think my kids could sqander as efficiently as a government
Any opinions expressed by me are mine alone, posted from my home computer, on my own time as a free american and do not reflect the opinions of any person or company that I have had professional relations with in the past 50 years. meep
New Not spend it on invading Iraq, for one thing.


Peter
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Expand Edited by pwhysall May 1, 2006, 09:36:23 AM EDT
New It was a reference to Monopoly



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New The usual quote is "rags to rags in three generations"
A man is born poor but motivated, builds up a financial empire.

His sons never have to work and never learn how to. They piss away the fortune.

His grandsons are in rags again.

Great fortunes take longer to vanish, but the usual difference is that there gets to be several middle generations. If the fortune is large and the money is tied up in ways that the inheritors cannot readily waste, there might be quite a few such middle generations. The problem comes when someone gets the bright idea of manipulating the political system to make the wealth travel further. Then we wind up having to deal with someone like George III. (Pick either one - both were bad for America.)

About capitalism, I firmly believe that "wealth" and "ownership" are societally created ideas. It isn't that they are granted to us by the government, it is that both government and ownership are powerful fictions created by people. So if we're going to make up rules, I'd like to see rules made up that tend to do well for people.

Now the fact is that capitalism, for all of its shortcomings, is pretty darned effective. Therefore in general I'm a capitalist. However capitalism is not, for me, a root value. Therefore I'm in favour of deviations (eg taxes) from a purely capitalistic society if I see a lot of value in them. The idea of the estate tax is a deviation that I'm in favour of. (That said, I would like to see the level at which it kicks in raised.)

However I'm against interventions that I think bring bad consequences and no good results. For example confiscating everyone's possessions upon death would be a horrible idea because I believe that the government will generally handle that property less effectively than private owners will. Furthermore saying that that is OK far too conveniently leads to abuses from the people in power.

(Unfortunately, very few of my positions fit on a postcard...)

Cheers,
Ben
I have come to believe that idealism without discipline is a quick road to disaster, while discipline without idealism is pointless. -- Aaron Ward (my brother)
     18 wealthy families behind estate tax repeal movement. - (inthane-chan) - (87)
         And rightly so. - (pwhysall)
         the income/equity has already been taxed once - (boxley) - (84)
             Disagree. - (Another Scott) - (3)
                 There are many bad things in life. - (pwhysall) - (1)
                     "They'll tax the pennies on your eyes" (new thread) - (jb4)
                 hogwash, you think they sit around on piles of money? - (boxley)
             What is fair? - (ben_tilly) - (76)
                 so if you get mugged its fair if you are rich? -NT - (boxley) - (75)
                     It's income. Tax it. -NT - (Silverlock) - (74)
                         Fair enough. As income. -NT - (imric)
                         income should be taxed, savings from income already taxed - (boxley) - (72)
                             Exactly. -NT - (pwhysall)
                             That is it in a nutshell. - (bepatient) - (42)
                                 Bah. - (Another Scott) - (23)
                                     how very marxist of you - (boxley) - (19)
                                         I don't think Teddy was a Marxist. -NT - (Another Scott) - (1)
                                             For those who don't understand that comment... - (ben_tilly)
                                         You have to have balance - (ben_tilly) - (16)
                                             so advocating theft of private property to balance power is - (boxley) - (15)
                                                 Yes, it is. - (ben_tilly) - (14)
                                                     Oh you mean national socialism, got it -NT - (boxley) - (13)
                                                         Nice insult - (ben_tilly) - (12)
                                                             not an isult just a description of what you want to do - (boxley) - (11)
                                                                 Then use another description - (ben_tilly) - (10)
                                                                     well lets see, that party believed that all wealth was at - (boxley) - (9)
                                                                         You been taking rhetoric lessons from BeeP? - (jb4) - (8)
                                                                             Sorry Ben, Ascribed a quote from Todd to You - (boxley) - (7)
                                                                                 I don't think that's the "banker" he meant - (drewk) - (5)
                                                                                     maybe not but the freekin local squire with his hand out - (boxley) - (3)
                                                                                         What are you gonna do with it - (tuberculosis) - (2)
                                                                                             I think my kids could sqander as efficiently as a government -NT - (boxley)
                                                                                             Not spend it on invading Iraq, for one thing. -NT - (pwhysall)
                                                                                     It was a reference to Monopoly -NT - (tuberculosis)
                                                                                 The usual quote is "rags to rags in three generations" - (ben_tilly)
                                     And you'll see me be very consistent - (bepatient)
                                     I see your Bah and raise you a Feh. - (pwhysall) - (1)
                                         Wow, is that ever a 'well worn' arguement. - (Andrew Grygus)
                                 Cry me up a river - (ben_tilly) - (12)
                                     so having a rich dad is a detriment - (boxley) - (11)
                                         What do you call having a poor dad then? - (ben_tilly) - (4)
                                             s/few years/rest of your life - (inthane-chan) - (1)
                                                 I said a nice place :-P - (ben_tilly)
                                             whenever someone takes 1/2 of mine it gets detrimental - (boxley) - (1)
                                                 It wasn't yours - (ben_tilly)
                                         Please provide verifiable references . . . - (Andrew Grygus) - (5)
                                             :-) - (Another Scott) - (1)
                                                 Yeah, we had that in my family too. - (Andrew Grygus)
                                             Andrew Jackson's Grandchildren - (boxley) - (2)
                                                 Eh? - (Another Scott) - (1)
                                                     When I was at the Hermitage I saw info that had the begats - (boxley)
                                 Its a tax on *personal* wealth - (tuberculosis) - (4)
                                     Small set of victims is larger than the set your after. - (bepatient) - (3)
                                         s /surf/serf/ "Surf's up at Wal-Mart!" :-) -NT - (Another Scott)
                                         I disagree on how good it is - (ben_tilly)
                                         not if you measure in dollars - (tuberculosis)
                             Look at it from the child's point of view - (ben_tilly) - (27)
                                 Difference is, when you get that income - (bepatient) - (19)
                                     So I don't keep the house, big deal. - (ben_tilly)
                                     Easy - (JayMehaffey) - (17)
                                         Since you've never had this happen to someone you know - (bepatient) - (16)
                                             Compromise suggested - (ben_tilly)
                                             Don't know about New Jersey - (JayMehaffey) - (4)
                                                 Selling part of a farm - (imric)
                                                 Lovely use of statistics - (bepatient) - (2)
                                                     Figures where for 2000, current rate is lower. - (JayMehaffey) - (1)
                                                         Re: Figures where for 2000, current rate is lower. - (bepatient)
                                             Latest numbers and info from the IRS. - (Another Scott) - (1)
                                                 Estate tax level is current wacky - (JayMehaffey)
                                             Re: Since you've never had this happen to someone you know - (tuberculosis) - (7)
                                                 Try.. - (bepatient) - (6)
                                                     Nota bene - (jake123)
                                                     All true, but that's a different problem - (drewk)
                                                     Mortgage or move - (tuberculosis) - (3)
                                                         Interesting take - (bepatient) - (2)
                                                             So take Ben's solution. - (inthane-chan)
                                                             I have no intention - (tuberculosis)
                                 why should you have to pay %50 taxes because your - (boxley) - (1)
                                     simple, your parents had more money...that makes it fair. -NT - (bepatient)
                                 Does your father(s estate) get to write off the expense? - (drewk) - (4)
                                     I know someone who did it. - (broomberg) - (2)
                                         I know multiple people who've done that - (ben_tilly)
                                         That's a little different, as I understand it. - (Another Scott)
                                     Its called a living trust came into being with the ERISA law -NT - (boxley)
             This tax was deliberately confiscatory when introduced. - (Andrew Grygus) - (2)
                 I'd agree with that -NT - (ben_tilly)
                 She's got vast... tracts of land. -NT - (jake123)
         This surprises you? -NT - (tuberculosis)

You finding Ling-ling's head?
90 ms