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points by RickJWagner 1 day ago | 0 comments

I don’t begrudge anyone in the USA for building a fortune. They had opportunities much the same as my own, they ‘won the game’. Good for them, the challenge is the secret sauce that powers the great economy.

So I oppose taxing that secret sauce away.

Taxing the transfer of great wealth to next generations seems a better thing. Allow the transfer of some degree of wealth, but not all of it. Make the future generations earn their huge wealth, as their ancestors did. Keep the competitive spirit going.

[–] nullocator 1 day ago

Semi-serious question: if I didn't have to pay any income, property or sales tax I think I could build my fortune. Should we get rid of those?

> the great economy.

Great for who exactly? Certainly less great for the people who have no opportunity to gain wealth, because the currently wealthy don't contribute their fair share, or debatably don't contribute at all.

[–] therealdrag0 1 day ago

The economy is great for most people, it’s usually the envy of the world. Opportunities abound. Most people have no wealth because they’re dumb, or choose not to— I know many of both. They should be able to live dignified lives, but their lack of wealth is not a slight against the system.

[–] RickJWagner 1 day ago

I grew up without any family money and found the US economy ( with some advice from the Bogleheads community ) conducive to building a good life.

I now have 3 adult children, all seem to be likewise on good paths.

I truly believe the US economy offers an excellent chance to grow wealth, if patience and discipline are used. Even for salaries that are only decent. Plenty of teachers, plumbers, etc. become millionaires by retirement age. You just have to have a little luck ( avoid the rare financial catastrophe) and follow the Bogleheads trail.

About ‘the wealthy’, don’t worry about them. Just manage your own affairs, you’ll be fine.