Posted on 08/24/2011 4:08:36 PM PDT by jazusamo
This highlights a severe weakness in capitalism as we practice it. Large fortunes are accumulated, then passed on to people who had almost nothing to do with accumulating the fortunes. The undeserving heirs then use the fortune to fund ways to undermine capitalism.
The only plausible solution that I can see, is for those who make the fortune try to insure that it goes to someone who worked for it. Not an easy task.
Excellent point and like you say, not an easy task.
The person building the fortune is probably, in most cases, too busy to pay much attention to his heirs as they’re growing to adulthood.
I believe that’s what has to happen to assure their wishes are carried out.
Inherited money strikes again.
Now that’s funny ! !
Walmart scions supporting anti-fishing plutocrats ! As if every Walmart doesn’t have a large “fishing/sports” section ! Oh my ! Next, no doubt, will be the “Pet Supplies” sections when the Humane Society/PETA types get their hooks in.
OTOH, might be a very good thing for a lot of small businesses catering to the sporting individual. >PS
Heirs so often go wobbly.
It’s an American tradition.
And it damages us....I think some of the Mellons have held up...the Kochs might.
The Ingrams do so far...the are a little green buying up land trusts but also fund righty stuff bigtime
Simmons in Dallas already has an ideological revolt from his daughters and he is not even dead yet.
Huge personal bequeathments fund so much radicalism
maybe we should have confiscatory death tax..lol../s
part of the problem is foundation control and the next-next generation...the latter one has no control over
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