If you died tomorrow would your children be taken care of for the rest of their lives?
Yes, they would never have to worry about working if they didn’t want to.
They both have high 7 figure trust funds as it stands right now. Plus, they would inherit all my businesses, stocks, land, etc. in trust with their mother being executor - with fall back executors if both of us were to die.
There are stipulations on their money with age and education requirements before it would be released to them entirely.
They would be very, very well taken care of.
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If they have more than enough, what about you personally?
Define more than enough and who gets to decide what is more than enough? You?
I have everything I need and most of what I want. I’m a pretty simple person when it comes to possessions.
But within reason there isn’t much out there I can’t go buy and not miss the money.
But, I’d rather reinvest most of my earnings into things that will continue to make money and into things for my children.
I don’t have exotic cars (I have some very nice cars) but no lambos or Ferraris or mclarens etc.
The older I get the more I pass on flashy depreciating things.
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Do you have shelter, food to eat and clothing to put on your back and you don’t have to worry about these things? If so, you’ve got the means to survive and have enough. Your family is more than taken care of. 4 homes is MORE than enough. Having high 7 figure trusts for your children is more than enough.
Thats not your or anyone elses decision to make
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Why do you get to make that determination?
So, now that I have enough according to you - what is next? Give everything else I earn away?
4 homes? I guess it depends on how you define a home. I have a main residence out away from everybody on a lot of land and a satellite residence close to my main offices. A few family homes / houses on properties where I have bought a lot of land.
I have quite a few condos / vacation homes, but they are rented out most of the year. Only blocked off for myself and family / friends. Pleasure / business type properties.
Property / land are the best long term investments imo. As the cliche says, “they aren’t making any more of it.”
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I’m not, common sense is. Why do YOU get to make that determination?
I beg to differ. Plenty of Americans feel that way.
You are a communist then, not an american
Then I suppose everyone who advocates for higher taxes is a communist. So the majority of Americans.
Higher taxes for who? The top 10% of income earners that pay most of the taxes already?
Do the Rich Pay Their Fair Share? - Federal Budget in Pictures
The top 10% already pay 73% in total taxes.
Why would I vote for someone who raises taxes and I get no benefit? You said yourself that you believe federal taxes mean nothing other to give the dollar value - so why raise them?
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Because it is my life and what I own. I don’t let losers make determinations about my life or how I live it.
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To keep people from buying politicians and turning the U.S. into an oligarchy. Opps, too late for that.
Why do the poor not pay taxes?
In what first world countries are politicians not bought?
I am asking seriously because I can’t think of one.
No matter your economic system - money is power and power always controls everything even if it is “hidden”.
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So if it leads to detrimental results, don’t try and do anything about it just accept it?
Please tell me and others here with more political pull and money than you what can be done to change it.
I accept it because I can’t change it and throwing energy into doing that would be a waste of time when I can take care of me, mine, and those I can actually help.
Higher tax rates won’t prevent this
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Yes maybe you by yourself can’t change it but a group of people can. While the jury is still out, look at what is going on in France.
You certainly have a defeatist attitude.
Taking money away from those who have that ability may not cure the issue but it certainly helps and is a step in the right direction.