Re:Note from Mark Zuckerberg
by nhaehnle on Thursday April 28, 2016 @01:24AM
(#11586705)
Wealth tends to translate into power. Multi-generation wealth transfer translates into dynasties. Dynasties are the antithesis of democracy.
Hence, multi-generation estates are anti-democratic.
Of course there is nuance in the extent of the effect. Some inter-generational wealth transfers are fine. Multi-generation estates wouldn't be a problem if everybody had them. And so on. But the core of an important argument against multi-generation estates is very plain. (Other arguments can and have been made as well, of course, including fairness arguments - I didn't work for my inheritance, for example.)
Hence, multi-generation estates are anti-democratic.
Of course there is nuance in the extent of the effect. Some inter-generational wealth transfers are fine. Multi-generation estates wouldn't be a problem if everybody had them. And so on. But the core of an important argument against multi-generation estates is very plain. (Other arguments can and have been made as well, of course, including fairness arguments - I didn't work for my inheritance, for example.)