Resentment towards inherited wealth

When people get disproportionately angry for no apparent reason, the first guess is fear.

Inherited wealth is great power, obtained without the sacrifices and other learning experiences by which power is otherwise obtained. Allowing inherited wealth puts our values, our political institutions, and our way of life, at serious risk.

We resent and fear being under the thumbs of an aristocracy, and rightly. The reaction is visceral, intuitive, but none the less well founded.
 
We resent and fear being under the thumbs of an
aristocracy, and rightly. The reaction is visceral, intuitive, but none the less well founded.

No it's not.

Pure BS, and I bet Ice won't be able to come up with a single concrete example of someone we should of been scared of because they inherited great wealth.

Arthur
 
Inherited wealth is great power, obtained without the sacrifices and other learning experiences by which power is otherwise obtained. Allowing inherited wealth puts our values, our political institutions, and our way of life, at serious risk.

We resent and fear being under the thumbs of an aristocracy, and rightly. The reaction is visceral, intuitive, but none the less well founded.

Well are you saying that the wealth accumulated over generations should be controlled by outside agencies culling their freedoms? Would you advocate passing a law disallowing the passing on of wealth? If so would it be for everyone or only the wealthy? How would you encourage enterprise if people are not free to enjoy the fruits of their labor which includes passing it on to their progeny?

By the way you don't really feel as if you're under the thumb of a Vanderbilt or Johnson do you? I mean the young man who will inherit the wealth of Johnson & Johnson doesn't have anything to do with the business (they're only stockholders). They also don't really seem to be very generally interested in politics. How is it that there being a rich kid somewhere who inherits a billion puts your values and political institutions at risk? How do you they affect your values?

I don't agree that people fear those who inherit wealth because they feel under their thumb, I think the resentment comes more from feeling excluded from affluence. An affluence that some will obtain simply by virtue of being born. I also think its unfair to readily assume that a wealthy person cannot be a positive member of society.
 
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It takes a different mindset for each individual step of wealth:
--to initially grow wealth from a starter budget.
--continue to sustain it.
--make it grow.
--grow the family and split up the fortune.
--party daddy's fortune to exhaustion.
--start again from scratch, after being wealthy for many generations.
Each step (no particular order) involves the leadership of a different mindset than the others.
To get the job done and to instill it to a future generation. Problem is one can't instill a childhood perspective that that another did not exactly have.
 
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It takes a different mindset for each individual step of wealth:
--to initially grow wealth from a starter budget.
--continue to sustain it.
--make it grow.
--grow the family and split up the fortune.
--party daddy's fortune to exhaustion.
--start again from scratch, after being wealthy for many generations.
Each step involves the leadership of a different mindset than the others.
To get the job done and to instill it to a future generation.

But it seems there is a significant portion of these families that do not follow those steps and sustain wealth from generation to generation. Also I doubt anyone can drink a 20 billion dollar fortune and there are financial stipulations to prevent that from happening to the point that a fortune can be exhausted.
 
But it seems there is a significant portion of these families that do not follow those steps and sustain wealth from generation to generation. Also I doubt anyone can drink a 20 billion dollar fortune and there are financial stipulations to prevent that from happening to the point that a fortune can be exhausted.
I'll repeat my last line (I posted after you did):
Problem is one can't instill a childhood perspective that another did not exactly have.

Failure takes only some bad business deals, a cocaine habit, along with the alcohol. And the wealthy have their predators in legal entrapments, accountants, etc., etc., etc.
 
I'll repeat my last line (I posted after you did):
Problem is one can't instill a childhood perspective that another did not exactly have.

But do they have to? I mean does that experience need to be instilled? Most of those who inherit the wealth don't have anything to do with the business that created the fortunes. All they are are the inheritors. :shrug:
 
Are you TOTALLY Deluded?

LOL, No I am not Arthur. That is why I made the statement. :)
George Bush ran and served for 8 years as Governor of Texas and 8 years as POTUS, so CLEARLY he has given back, since NO ONE takes these extremely difficult jobs for the SALARY.

On the other hand

http://newsbusters.org/blogs/noel-s...preading-global-warming-hysteria-media-s-help

Arthur

Yes, why did george II run for those offices? Was it because of some alturism on his part? If so, where is the evidence of same? There is none. George II was more thrilled with power, not in serving. That is why is self admitted favorite activity as president was to play commander in chief.

Everything george II did was because of his family connections. He ran the nation into the ground. Even some of his supporters were hankering for competent leadership after his reign.
 
No it's not.

Pure BS, and I bet Ice won't be able to come up with a single concrete example of someone we should of been scared of because they inherited great wealth.

Arthur

That is easy, george II, steve forbes, donald trump for starters.
 
Yes, why did george II run for those offices? Was it because of some alturism on his part? If so, where is the evidence of same? There is none. George II was more thrilled with power, not in serving. That is why is self admitted favorite activity as president was to play commander in chief.

Everything george II did was because of his family connections. He ran the nation into the ground. Even some of his supporters were hankering for competent leadership after his reign.

George Bush is a mite compared to the fortunes being highlighted in that documentary. The Bush's were millionaires not billionaires.
 
But do they have to? I mean does that experience need to be instilled? Most of those who inherit the wealth don't have anything to do with the business that created the fortunes. All they are are the inheritors. :shrug:
Each generation has a different teaching method and orientation. Corrections are those changes that Dad didn't like about old Grandad's teaching method/lifestyle.... Dad says something different to Grandson....Or is too busy to relate to Grand-daughter...
 
I support inheritance. It builds character and you can see it in people's upbringing. I can tell the difference between those who grew up poor and those who grew up with money very easily. Upper class people tend to have better values and more advanced ethics than the poor. They also are less criminal. It is a fact that poverty breeds crime.

I tend to agree with the characters Dee and Dennis Reynolds in the show It's Always Sunny in Philadelphia: "You're born into class. It's about pedigree. It's about upbringing. It has nothing to do with your present circumstance. If you are born into upper class, then you are and will forever remain upper class."

Very true words. Nothing can take being upper class away from you, even if you lose most of your money. And likewise, if someone is born low class, they are forever low class. Even if they get rich, they still have the upbringing of a poor, low class person and therefore retain all of the negative values that characterize people as distinctly low class.

For example: it is a sociological fact that those who grew up lower class tend to have difficulty with deferring gratification. When they get money, they tend to spend it immediately because they think that if they hold on to it, they will be forced to spend it on something they don't want anyway at some point: like bills. That is a contributing factor to why poor people have trouble with saving money. By contrast, those born upper class tend to have no difficulty in deferring gratification, owing to a better upbringing.

You do children no service by insisting they grow up without inherited wealth, when that wealth has been shown to give them better outcomes in life.
 
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Yes, it seems there is a growing amount of corrupted wealthy. Breeding not a factor exclusive to wealth. It may never have been after the castles were sold and families migrated to less formal environs.
 
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Like I said, not a single contrete example of anyone we need to be SCARED of.

LOL

Arthur

It is pretty clear Arthur that you cannot or will not see beyond the party line. George II and his merry band of Republicans ran the country into the ground. That is fact, pure and simple.
 
It is pretty clear Arthur that you cannot or will not see beyond the party line. George II and his merry band of Republicans ran the country into the ground. That is fact, pure and simple.

Please don't turn this thread into another republican vs democrat rant it has nothing to do with the topic at hand.
 
My direct lineage has not lived in a castle for 10 generations. That castle was made unlivable by cannon-fire (the neighbors did not like the new owners my family sold to...they were of the "new industrial age" wealth--all money no property...probably no breeding--
my family moved to the U.S. 5 generations later...) But I retain an innate code, a sometimes underlying intuition of how to place my feet forward. I have breeding. And a management job (not fast foods or shopping mall). I like it, and it suits me.
 
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There is a documentary on inherited wealth called 'Born Rich' (it can be viewed online here http://www.documentarytube.com/born-rich-documentary).

The young heiresses all of whom will one day inherit billions of dollars are interviewed on their relationship to money and how the money alters their relationship to all those who do not have money.

Now I found this interesting because its obvious that growing up with money is like growing up in an alternate universe, they're experience in the world isolates them but what I found more intriguing was the response to the documentary.

Almost anyone who had anything to say about the subjects descended into character assassination. The subject incurred an almost rabid hatred for anyone who had access to wealth they themselves didn't earn. Why is this? Why the resentment? The children of the wealthy are no more to blame for their wealth than the children of the poor for the poverty they are destined to experience. So why the hate?

Another interesting response was the habit to point out that the heirs were not exceptional in any way, that they were somehow wasteful and unenlightened, not very intelligent, without wisdom, a mind or a soul. But why should they be any of these things? If affluence is a birthright as in these cases why do we expect the heirs to be any different from the average joe on the ground? Is money supposed to make them more exceptional?

There are enough of the unenlightened, wasteful and stupid among the unwashed masses and we do not expect anything more from them. Why do we expect more from the rich? Does money require responsibility and if so why should the poor be absolved of all responsibility?

Isn't the hatred and urge to dismiss them a simple function of envy born from the fact that you don't have to be special or exceptional, that wealth is simply an outcome of luck? I think thats what annoys people the most, that the lives of ease and privilege these young people represent is a product of nothing more than being born into the right family.

The responses to the documentary which I believe to be a sincere attempt makes the reticence of the heirs understandable. No wonder they make it a rule never to talk about money and isolate themselves in a world of those who are just like them. The mob in their envy would have them stripped and their wealth re-distributed so that no one can claim to be any closer to the sun.

I found the dilemma of the Vanderbilt heir to be quite telling, his awareness that all the accomplishments ascribed to his family had nothing to do with him, that they were built by people he didn't even know, the feeling that they have to justify themselves. But why do they have to justify themselves to anyone?

I would say the resentment is mostly envy and some part contempt at what is considered the easy life. Most people admire the person who makes the wealth from ground up as "character building" which I have not necessarily found to be true - the nouveau riche come packaged with their own foibles - and have contempt for those born with the silver spoon, because they see it as a hindrance to their character.

Mostly though its just envy
 
Cosmic you're wasting bandwidth. See Snowsportsid? He's contributing to and reflecting on the OP. You're just bunching up over a silly side note that's irrelevant to the thread.

But that's what I want to say about this matter but I guess you set your own parameters as to what you think should be stated by others.
 
I would say the resentment is mostly envy and some part contempt at what is considered the easy life. Most people admire the person who makes the wealth from ground up as "character building" which I have not necessarily found to be true - the nouveau riche come packaged with their own foibles - and have contempt for those born with the silver spoon, because they see it as a hindrance to their character.

Mostly though its just envy


I agree with you. Its interesting that the answer for some is the dispossession of wealth to pass it on to others, arguing that the State has the right to that wealth for the benefit of others. High taxes for the wealthy is fair but I don't think disallowing of inheritance is anything more than taking money from those and passing it on to others is a form of envy.
 
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