| I mean, I guess it's just a matter of perspective. If you think having an entrenched class system is good, then I guess nothing is "wrong" with it. Sure, early on in the system it's possible for it to be fairly competitive. You have a mix of responsible and irresponsible families passing down wealth, and the ones that do it best will retain their wealth the longest. But over time it becomes a very different game. Take a look through history; the stories it tells don't look good for the bulk of the working class. It's one thing to be able to leave your wealth to your children, it's another thing to have a completely protected trust that is exempt taxes. The longer this runs, the less money forced back into the economy and through compounding interest it becomes impossible for a new set of "nobility" to reasonable ever achieve the same status. It is a zero sum game, as there is effectively a limited amount of wealth. And the more it becomes centralized around a noble class the less everyone else has. You can leave money to your children today, it's not like that's not possible. So I am not sure what you're on about. The loophole being discussed here is doing it free from taxes. Like Elon Musk won't need to shelter his kids kids kids from taxes on his billions. If you make enough money that can be true for you too. But yeah, you might need to teach your kids proper financial skills so that they don't blow through what you leave them so it reaches your grandchildren. You can already setup a trust today for your kids. You can leave your kids shares in a brokerage account and that has some pretty solid tax advantages. There are a ton of ways to leave behind your wealth that doesn't require completely untaxed assets. |