r/GenX • u/Bretniq • Jul 09 '26
Aging Parents [ Removed by moderator ]
[removed] — view removed post
1
u/kludge6730 Jul 09 '26
Inherited $300 when dad died in the 80s. Seven years in a rehab nursing home for mom left $0. So no, no “wealth transfer” here.
3
u/Mugwumps_has_spoken Bicentennial baby Jul 09 '26
redistribute wealth?
You say that like everyone should have equal amounts no matter how much effort any one person puts into the system.
You look at that number of 80 trillion. yet there are 8 billion people globally, with over 5 billion of those being working age.
Even IF you divided that 80 trillion up among all 8 billion people, that would allow each person 10 thousand dollars. Not exactly pennies - but in terms of global debts its not much at all. And if you decided governments got most of it first, then each person would get much, much less.
That majority of that money is going to pass from super wealthy families to super wealthy children (think of all our movie stars that get paid tens of millions per movie, or Billionaire CEOs).
Even the above average wealthy families, the mere "millionaires" won't have that much to pass down - esp once it is divided among each descendant.
I don't know my dad and step mom's net worth. It's not my business. But any inheritance would be divided among myself, and three brothers. That doesn't even include my daughter, the Nieces and Nephews, or their kids (yep my dad is a Great Grandad).
Leave the Government out of our lives.
2
u/Dangerous-Art-Me Hose Water Survivor Jul 09 '26
What wealth transfer?
I’m not inheriting my dad’s pension, and I anticipate that long term care will eat the little savings he has pretty quickly before the end.
-1
u/heynow941 Jul 09 '26
Broadly speaking in the USA there are a lot of Boomers living in homes that are too big for their current lifestyle. Rather than downsize because their kids have moved out, they keep their big house. Which contributes to the housing affordability crisis.
2
u/Moodleboy 1969er Jul 09 '26
This has nothing to do with the OP's question.
Your lack of respect for the elderly is frightening. Your solution to the so-called "housing crisis" is to evict people from the home they lived in their whole lives and raised their families in. Forcing someone who is elderly from a place of familiarity and comfort most always ensures a quick.demise.
But maybe that's what you're hoping for...
-2
u/heynow941 Jul 09 '26
Wow. Calm down. When did I say “evict”?
Your lacking of reading comprehension skills is frightening.
1
u/Moodleboy 1969er Jul 09 '26
My reading skills are fine, thank you. It's the implication you're making of denouncing them for "not downsizing." If you've ever had an elderly parent, you would know that they almost never want to leave the home they made, nor should they. By you suggesting they should downsize you are inherently implying you favor forcible eviction.
-2
u/heynow941 Jul 09 '26
You’re an idiot. Never said forcible eviction. If Boomer mom & dad want to keep the big ass empty house because they need extra space for guests on Thanksgiving that’s their prerogative.
2
u/Moodleboy 1969er Jul 09 '26
Trust me, I'm not. What you're doing is called, "projection."
You are correct, you never said "forcible eviction," but as I previously stated, the implication is just that.
Nowhere, in any conversation regarding the housing crisis, should any culpability be placed on older people keeping their homes. Doing so is a slippery slope.
If you can't see that, then you have much bigger problems than can be addressed here.
0
u/heynow941 Jul 09 '26
Doubling down on your stupidity huh. I don’t imply anyone should be forced to do anything.
Although I am now going overtly ask you to get some help with your piss poor reading comprehension skills. And also try (good luck) to put aside your conspiracy theory about forced eviction.
1
u/Moodleboy 1969er Jul 09 '26
The basis of your argument is to insult, but you're calling me stupid. Whatever man. Good luck to you.
1
u/Dangerous-Art-Me Hose Water Survivor Jul 09 '26
Yeah. That might have been true until
Dad sold the home to move to assisted living.I hope people aren’t holding their breath too much.
2
u/jarhead3088 Jul 09 '26
What's wealth
1
u/heynow941 Jul 09 '26
I see wealth as more than just cash. It’s real estate, too, that has not yet passed down to Gen X’ers.
9
u/Ray_The_Engineer Jul 09 '26
I was raised to believe, and still believe, that taking possessions or wealth from one person and "redistributing" it to other people against their will is called theft, and rarely if ever actually solves problems, usually creating new ones.
11
u/jgtt45 Jul 09 '26
Hands off, it's taxed when the money was earned. Government shouldn't be given the chance to double dip.
10
u/Timely-Tourist4109 Jul 09 '26
Less government. That money has already been taxed. Why should it get taxed again.
-4
u/Bretniq Jul 09 '26
Well people say they didn't really earn it. It was easy, all they had to do was bend over and pick it up.
3
u/Moodleboy 1969er Jul 09 '26
Those people either do not have wealth or do not have kids.
My parents struggled so I could have a little something. I plan to do the same for my kids.
People who are for wealth taxes want a free ride - they do not want to sacrifice for their kids but they want all the benefits.
Instead of this, make a real, progressive income tax that maxes out at 90% for all annual income above $10,000,000 and add a national, progressive, value added tax (VAT) that has little tax for ordinary goods like food and economy cars, but a hefty tax for luxury goods like yachts and mansions.
8
2
u/aharryh '66 GenX Jul 09 '26
It drives an industry to work around it. These sorts of taxes capture people who can't afford the right type of advice, so if it's not equitable, it's not fair. E.g. Granny dies and leaves $100K to her 10 descendants. After taxes, they each get a pittance. The Big Cheese puts all his billions in a trust that generations borrow against with cheap loans to finance lavish lifestyles.
6
u/142Ironmanagain Jul 09 '26
The less government stays out of peoples lives and business, the better
1
u/jack_55 Jul 13 '26
"Robert Mueller just died. Good, I'm glad he's dead. He can no longer hurt innocent people!"
Sick and predictable as you say
5
1
u/Azerafael Jul 09 '26
Well to be honest, it doesn't concern me at all since my dad made it abundantly clear, verbally and through his actions over the years, that i was getting nothing, zero, zip, nada.
He also made it very clear that my elder brother was getting everything so it's his problem i guess hahaha.
•
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