Quote:
Originally Posted by CliffFletcher
This is clearly a major social inequality issue, whether or not it’s recognized as such. We’ve all seen that illustration of two kids trying to look over a fence and one is standing on a step and the other isn’t. Well a $150k contribution towards a house is a bigger step than anything to do with race or gender.
With automation and the gig economy eating away at the income tax base, governments are going to be looking for new sources of revenue. Intergenerational wealth transfers are an obvious target. And I expect a lot of people who make all the right noises about other injustices will quietly go about doing everything in their power to evade that instrument of addressing inequality.
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I would say inheritance and closely held corporations are the two biggest vehicles leading to inequality right now. Their effects are more profound than many of the traditional issues people complain of. I'm not trying to downplay issues with race, gender, etc...The generational monetary transfer is very much tied to such issues. People benefiting from multiple generations of prosperity are going to see a major windfall when their parents' transfer of wealth. This will undo all progress made elsewhere. The scale of this transfer is unprecedented.