Are those who live off inherited wealth & do not work parasites?

porsche959

Are those who inherit trust funds parasites leeching on society or do you think some are capable of developing a social conscience?

Birneybau

In that case, I'd love to be a parasite.

How are they leeching if the funds are bestowed by family? It's not as if it's a government grant, or anyone's business for that matter.

Montroseee

Begrudgery etc. etc.

Timberrrrrrrr

porsche959 wrote: »

Are those how inherit trust funds parasites leeching on society or do you think some are capable of developing a social conscience?

How are they "leeching on society"?

porsche959

Birneybau wrote: »

In that case, I'd love to be a parasite.

How are they leeching if the funds are bestowed by family? It's not as if it's a government grant, or anyone's business for that matter.

Water, etc are not finite resources. So it could be argued that some of that class are operating in a parasitical fashion.

Birneybau

porsche959 wrote: »

Water, etc are not finite resources. So it could be argued that some of that class are operating in a parasitical fashion.

Makes no sense whatsoever.

Lyaiera

Yes. They have done nothing to earn their wealth. They have in no way contributed and will live off the effort of others without doing anything worthwhile themselves.

That being said I'd love if I was in that position myself. Money makes everything easier.

Timberrrrrrrr

porsche959 wrote: »

Water, etc are not finite resources. So it could be argued that some of that class are operating in a parasitical fashion.

Same could be said for someone on the dole.

porsche959

Birneybau wrote: »

Makes no sense whatsoever.

It makes as much sense as the numerous threads bashing on the unemployed which we've had recently.

porsche959

Timberrrrrrrr wrote: »

Same could be said for someone on the dole.

'Dole' is an archaic word. Jobseekers benefit is the correct phrase.

Timberrrrrrrr

Lyaiera wrote: »

Yes. They have done nothing to earn their wealth. They have in no way contributed and will live off the effort of others without doing anything worthwhile themselves.

That being said I'd love if I was in that position myself. Money makes everything easier.

Again


Same can be said about some unemployed people.

Timberrrrrrrr

porsche959 wrote: »

'Dole' is an archaic word. Jobseekers benefit is the correct phrase.

Potato/porartoeeeeee/spud

:rolleyes:

Mena

RobYourBuilder wrote: »

Should I cook up the chicken wings before I go out or when I get home? BBQ or Franks? This is the inane and random thoughts thread, right?

Franks. What kind of stupid arse question is that!

porsche959

An admittedly extreme example:

http://www.dailymail.co.uk/femail/article-1227679/The-Satanic-Marquess-Was-knife-throwing-drug-addicted-John-Hervey-Britains-debauched-aristocrat-ever.html

(albeit no more so than the welfare families tabloid media run exposes of and some AH posters love to cite as representative)

Manach

The term seems to echo the agitprop that the Marxists used to stir up resentment. Linking the term parasite to the accumulation of wealth is an emotive term that concentrates on the individual instead of that of the family unit through which the monies are held within an inter-general trust. Thus the question reflects a social system that has an in-built equality, all are poor.

shruikan2553

Depends on the person. An asshole is an asshole no matter how much money they have.

Their parents had more money than your parents. Parents give money to their children all of the time.

RobYourBuilder

porsche959 wrote: »

'Dole' is an archaic word. Jobseekers benefit is the correct phrase.

What if they are on Jobseekers Allowance?

Lyaiera

Timberrrrrrrr wrote: »

Again


Same can be said about some unemployed people.

We have plenty of threads about people taking advantage of the dole, so why not about people taking advantage of the inherited wealth.

dee_mc

If property/funds shouldn't be passed on to family/chosen benefactors in the form of inheritance, then how should it be passed on, and to whom? I don't really understand the question...

Lyaiera

dee_mc wrote: »

If property/funds shouldn't be passed on to family/chosen benefactors in the form of inheritance, then how should it be passed on, and to whom? I don't really understand the question...

It can go back to the state to benefit all.

Donkey Oaty

porsche959 wrote: »

'Dole' is an archaic word. Jobseekers benefit is the correct phrase.

Given that the word "dole" has been used in the last few weeks by the BBC, The Irish Times, The Irish Examiner, The Irish Independent, The Guardian and Russia Today, I'm inclined to think that it is still in current use.

shruikan2553

dee_mc wrote: »

If property/funds shouldn't be passed on to family/chosen benefactors in the form of inheritance, then how should it be passed on, and to whom? I don't really understand the question...

The common theme is everyone who gets more than them doesn't deserve it as they haven't "earned" it to their standards.

Highflyer13

Some are and some are not. Its that simple.

goose2005

Timberrrrrrrr wrote: »

How are they "leeching on society"?

Society pays enormous sums of money in terms of policing and enforcing the law in order to protect the wealth of citizens. People who have lots of wealth benefit a lot from these protections. It's odd that the right to health (at whatever cost) or the right to education (at whatever cost) are scoffed at, but the right to property is utterly sacrosanct.

Venus In Furs

Lyaiera wrote: »

Yes. They have done nothing to earn their wealth. They have in no way contributed and will live off the effort of others without doing anything worthwhile themselves.

Wha?! I have inherited funds towards a property (not the entire cost of it, but enough to make the mortgage affordable by myself) on the back of my grandparents' farm being sold and the money being left to my mother, who in turn put some of the money into investments for her children.
I work full-time, have never not worked. I realise everyday how exceedingly lucky I am, but it does not make me the sponge you describe! If anything, my parents taught us to be sensible with money.

smcgiff

Is parasite the new term for lucky?

Oh, and how is the term 'dole' archaic when it is in common usage and everyone knows what it means?

RobYourBuilder

Lyaiera wrote: »

We have plenty of threads about people taking advantage of the dole, so why not about people taking advantage of the inherited wealth.

They would pay inheritance tax and income tax on the trust funds earnings. Are you suggesting that inheritance tax should be set at 100%?

ulinbac

Leeching on society is quite a stupid statement.

They spend fortunes every year which creates jobs and provides a living for others!!

Plus most of them probably work anyway or run business' and will pay tax so won't be leeching.

Typical Irish begrudging.

Riddle101

I don't think inheriting wealth makes you a parasite. Many families save up a fortune and then pass it on to the next generation. Sometimes relatives will pass on land or a house to another relative in their will. Either way, it's the family's business and they're full entitled to do whatever they want with their property or wealth.

smcgiff

Lyaiera wrote: »

It can go back to the state to benefit all.

Well said comrade :rolleyes:

porsche959

goose2005 wrote: »

Society pays enormous sums of money in terms of policing and enforcing the law in order to protect the wealth of citizens. People who have lots of wealth benefit a lot from these protections. It's odd that the right to health (at whatever cost) or the right to education (at whatever cost) are scoffed at, but the right to property is utterly sacrosanct.

Interesting point. Warren Buffet and Bill Gates have each publicly said they intend to ensure their children inherit very little. Buffet in particularly has commented on how his class, the very wealthy, are under-taxed in his native land.

There was a time when punitive death duties were exacted (1970s). I would not advocate we go back to that, as it is counterproductive and encourages tax evasion. I am pleased however that governments are increasingly cracking down on offshore tax juridisctions, which many wealthy familes (ones that unlike Gates and Buffet, lack social consciences) have used to avoid paying their fair share. Families that set up offshore trust funds specifically to evade tax are certainly operating in a parasitical fashion. Strange that many posters don't want to see that.

InTheTrees

SO inheriting your parents house makes you a parasite?

Hmmm.

smcgiff

porsche959 wrote: »

Interesting point. Warren Buffet and Bill Gates have each publicly said they intend to ensure their children inherit very little. Buffet in particularly has commented on how his class, the very wealthy, are under-taxed in his native land.

There was a time when punitive death duties were exacted (1970s). I would not advocate we go back to that, as it encourages tax evasion. I am pleased that governments are increasingly cracking down on offshore tax juridisctions, which many wealthy familes (ones that unlike Gates and Buffet, lack social consciences) have used to avoid paying their fair share.

Do you think wealth should be distributed equally or just that no one be allowed have more wealth than you?

Donkey Oaty

Lawyer's fee, fi, fo, fum, I smell the sour grapes of someone who has just contested a will and lost.

porsche959

ulinbac wrote: »

Leeching on society is quite a stupid statement.

They spend fortunes every year which creates jobs and provides a living for others!!

Plus most of them probably work anyway or run business' and will pay tax so won't be leeching.

Typical Irish begrudging.

Typical Irish forelock tugging. Certain well known Irish borne super-rich are not tax-resident here. Seems like they want all the benefits of Irish citizenship but seek to evade responsibilities. Parasitical? Yep, I think so.

DEFTLEFTHAND

Gates kids must be pissed that they aren't getting the motherload. Only 10 million a piece apparently, thanks a lot Dad.

shruikan2553

DEFTLEFTHAND wrote: »

Gates kids must be pissed that they aren't getting the motherload. Only 10 million a piece apparently, thanks a lot Dad.

Christmas must have been **** too, a windows phone? Why do you hate us?

Lyaiera

Venus In Furs wrote: »

Wha?! I have inherited funds towards a property (not the entire cost of it, but enough to make the mortgage affordable by myself) on the back of my grandparents' farm being sold and the money being left to my mother, who in turn put some of the money into investments for her children.
I work full-time, have never not worked. I realise everyday how exceedingly lucky I am, but it does not make me the sponge you describe! If anything, my parents taught us to be sensible with money.

What have you done to earn that money?

RobYourBuilder wrote: »

They would pay inheritance tax and income tax on the trust funds earnings. Are you suggesting that inheritance tax should be set at 100%?

I think a conversation on inheritance is long overdue.

porsche959

DEFTLEFTHAND wrote: »

Gates kids must be pissed that they aren't getting the motherload. Only 10 million a piece apparently, thanks a lot Dad.

IIRC his sister had to declare bankrupty after unsuccessfully gambling on the markets, he refused to bail her out, went against his principles.

ulinbac

porsche959 wrote: »

Typical Irish forelock tugging. Certain well known Irish borne super-rich are not tax-resident here. Seems like they want all the benefits of Irish citizenship but seek to evade responsibilities. Parasitical? Yep, I think so.

Will put it to you this way. If you earn a lot of money you will more than likely use tax avoidance to keep your cash. Wouldn't you?

Aren't the likes of Bono who do this some of the largest charitable givers?

What about all the middle class Irish who are not overly wealthy who avoided tax in the 1980s? Are they all parasites?

bnt

I suppose it depends on how you inherit, doesn't it? Financier Warren Buffet has pledged to give away 99% of his fortune, which currently stands at around $74 billion, and has said "I want to give my kids just enough so that they would feel that they could do anything, but not so much that they would feel like doing nothing".

porsche959

ulinbac wrote: »

Aren't the likes of Bono who do this some of the largest charitable givers?

I believe so. Personally, I tend to find Bono-bashing largely misconceived as he does in fact pay a lot of tax.

ulinbac wrote: »

What about all the middle class Irish who are not overly wealthy who avoided tax in the 1980s? Are they all parasites?

In my view no, I would blame that situation on the ineptitude of the political class.

Venus In Furs

I'm learning from this thread that those who wish to pass assets on to their children shouldn't, and those who don't like the idea of it would refuse it on principle if they ended up being in that position.

porsche959 wrote: »

Typical Irish forelock tugging. Certain well known Irish borne super-rich are not tax-resident here. Seems like they want all the benefits of Irish citizenship but seek to evade responsibilities. Parasitical? Yep, I think so.

Thought you were talking about people who simply receive family inheritances. In and of itself it's not parasitical, depends on the individual.

RobYourBuilder

Lyaiera wrote: »

I think a conversation on inheritance is long overdue.

It was debated in the Seanad on Thursday and debated regularly in the Dail recently due to ammendments in the Finance Bill.

If you're interested; https://www.kildarestreet.com/sendebates/?id=2014-12-04a.82

ulinbac

Lyaiera wrote: »

What have you done to earn that money?

If I have kids some day and want to leave them what I earned, then they should get it. It's about leaving something behind to your loved ones.

As a child did you have to show how you earned your dinner every day? No, it was made for you by your parents who loved you. It's the same with inheritance.

sheesh

Lyaiera wrote: »

I think a conversation on inheritance is long overdue.

I guessing you expect not to be left anything

Macavity.

This just seems like a backlash to the dole threads, equally as stupid. Pointless thread.

mrsbyrne

porsche959 wrote: »

'Dole' is an archaic word. Jobseekers benefit is the correct phrase.

No, Jobseekers Allowance is the dole.

Magnate

Me thinks people who don't inherit wealth are jealous. :rolleyes:

Quite frankly it's none of our business, and I think we should respect the wishes of parents who choose to pass on their wealth. They're hardly leeching off society, if that was the case you might as well say rich people who've earned it are parasitic too. You can't compare it to being on the dole.

porsche959

Venus In Furs wrote: »

Thought you were talking about people who simply receive family inheritances. In and of itself it's not parasitical, depends on the individual.

I am mainly referring to super-rich. The title was perhaps overly broad.

porsche959

Magnate wrote: »

Quite frankly it's none of our business, and I think we should respect the wishes of parents who choose to pass on their wealth.

This report indicates that use of tax shelters by companies and wealthy is everyone's business:

http://www.economist.com/news/leaders/21571873-how-stop-companies-and-people-dodging-tax-delaware-well-grand-cayman-missing-20

Magnate wrote: »

They're hardly leeching off society, if that was the case you might as well say rich people who've earned it are parasitic too.

Non sequitur (though a Marxian analysis probably would suggest that.)