(September 8, 2017 at 4:07 pm)Catholic_Lady Wrote:(September 8, 2017 at 4:03 pm)Thumpalumpacus Wrote: What if instead of starting your own business you simply are born into a big trust fund? Seems to me like you neither need to employ anyone, and you've got quite the headstart.
I'm not saying either case should be illegal, but it sure doesn't strike me as a level playing field, nor does it seem that the trust-funder did much work for his station in life.
I mean, if I make a ton of money through hard work or whatever and my child/grandchild/great grandchild is born into it, I think it's a great thing that I was able to provide that for my next few generations to come. And if they are wise about it, it can keep going down the line. I don't see how that is unfair.
I also don't see what the alternative would be - not let people have trust funds or inherit their parent's money?
I don't know what the easy answer is.
I do know that wealth flows to the wealthy, which answered your question. I also know that it is much harder for the poor to get a quality education -- which becomes a negative feedback loop as well.
I also know that the poor get much worse representation in our political system because even those who claim to fight for the working class are taking enormous sums of money from corporations -- and the wealthy. That money has an impact on laws regulating the taxation, investment potential, and other legislative projects for amassing wealth.
I'm not sure about fair or unfair -- because life ain't fair -- but this inequity is not only obvious, it is a positive danger to any society practicing it. Read up about the French or Russian Revolutions, or the general unrest in Europe in 1848.
This idea that you can pull yourself up by the bootstraps is much easier to attain when you inherit an endowment than it is when you have to work to support your family.