Jerry Codekas @CodekasJerry
Curmudgon Brea, CA Joined April 2019-
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@MGudowitz @JonathanTurley Might rethink posting until you are sober.
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@aedunscombe2 @ForecasterEnten How accurate have been?
Jerry Codekas retweeted
People can’t exactly “hoard wealth”. They don’t bury it in a yard. If Bezos’ kids each inherit $100B and they put it in a 3% savings account and live off of that interest while contributing nothing to society, that $100B will provide the capital for 100s of 1000s of homes, businesses, etc. Unless they withdraw all the cash and bury it, light it on fire, or fund a war, that money will continue providing value to society. The argument against inherited wealth is simply one of envy that some people won the birth lottery. Now I won’t argue against the proposition that it is better for society that these wealthy high performing people administer the wealth in a way benefiting society. But the notion that simply passing it down to their children is “hoarding” the wealth is simply wrong. And I’ll further argue that a confiscation level death tax reverting a large % to the government would be wealth destroying (see: Funding Wars above).
@h2av8tor @JonathanTurley Don't you mean Noah?
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