Quote:
Originally Posted by CliffFletcher
People who study these things have observed that Millennials are the first generation in about 100 years whose material station in life will be determined mostly by inheritance. We're basically reverting to the inter-generational class structure of the 19th and 18th centuries. But inheritance is a taboo subject in North America, so it's not talked about at all.
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What do you mean it's not talked about in N America? You realize the U.S. has an estate tax right? The IRS basically takes half of your entire net worth when you die. It's a huge topic down there and analyzed to death. When I tell US colleagues that we don't have an estate tax in Canada they are just shocked (and very jealous).