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#inheritance

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A quotation from Wendell Berry

But there is another form that life can take. We can learn about it from exceptional people of our own culture, and from other cultures less destructive than ours. I am speaking of the life of a man who knows that the world is not given by his fathers, but borrowed from his children; who has undertaken to cherish it and do it no damage, not because he is duty-bound, but because he loves the world and loves his children; whose work serves the earth he lives on and from and with, and is therefore pleasurable and meaningful and unending; whose rewards are not deferred until “retirement,” but arrive daily and seasonally out of the details of the life of his place; whose goal is the continuance of the life of the world, which for a while animates and contains him, and which he knows he can never encompass with his understanding or desire.

Wendell Berry (b. 1934) American farmer, educator, poet, conservationist
The Unforeseen Wilderness: An Essay on Kentucky’s Red River Gorge, ch. 2 “The One-Inch Journey” (1971)

Sourcing, notes: wist.info/berry-wendell/77816/

That might be the best talk I will see this year. It's so interesting. He trace back why for more then 30 years we promoted #inheritance instead of #composition in #OOP #programing I mean, even principles that seemed untouchable like #SOLID is all about it. It's 2 hours 30 minutes but every minutes worth it if you ever did object oriented programing.

youtube.com/watch?v=wo84LFzx5nI

The median US household income is $81k. At a conservative 4% return you can earn that on $2M. Therefore, inheritance tax should start at $2M and rise steeply (21%, per $2M, imo) for every multiple of $81k you earn. You're already inheriting enough to live better than the median household while doing zero work, and if your parents want to transfer more wealth to you then they need to work towards raising the median income instead of hoarding assets. #incometax #inheritance #economics #uspol

During a basketball class I went to ask him which hand was my left hand so I could follow the coach’s instructions. He slapped me in front of everyone and told me “that’s your left hand” then glared at me like I was an idiot.
medium.com/prismnpen/the-inher

Prism & Pen · The Inheritance and Other Carnivores: An Arab Gay Man and His FatherBy Intesar Toufic

The arms dealer, the general's daughter and the speed demon: An inheritance battle.

Akram Ojjeh built his fortune as a middleman for French arms sales to Saudi Arabia, until his death in 1991.

The legal battle that his third wife and his youngest son have waged against the rest of the family could have been just a run-of-the-mill inheritance dispute.

But its ramifications extend to matters of state.

mediafaro.org/article/20250706

Saudi businessman Akram Ojjeh, during his purchase of the ocean liner France, in 1977. | LAURENT MAOUS/GAMMA-RAPHO
Le Monde · The arms dealer, the general's daughter and the speed demon: An inheritance battle.By René Dosière

A quotation from Teddy Roosevelt

No man should receive a dollar unless that dollar has been fairly earned. Every dollar received should represent a dollar’s worth of service rendered — not gambling in stocks, but service rendered. The really big fortune, the swollen fortune, by the mere fact of its size acquires qualities which differentiate it in kind as well as in degree from what is possessed by men of relatively small means. Therefore, I believe in a graduated income tax on big fortunes, and in another tax which is far more easily collected and far more effective — a graduated inheritance tax on big fortunes, properly safeguarded against evasion and increasing rapidly in amount with the size of the estate.

Theodore Roosevelt (1858-1919) American politician, statesman, conservationist, writer, US President (1901-1909)
Speech (1910-08-31), “The New Nationalism,” John Brown Memorial Park dedication, Osawatomie, Kansas

Sourcing, notes: wist.info/roosevelt-theodore/1…

Continued thread

Day 22 cont 💰💰💰💰💰🏘️🏠🏡🏠🏠🏡🏡🏡

“Advocates wonder why the new commitments have targeted a small number of first home buyers over the larger number of lower-income people living in #RentalStress. And industry experts warn the situation has become so dire, they are only seeing #DINKS (dual income, no kids) or people with #inheritance make it on to the #PropertyLadder.”

#AusPol / #LNP / #Labor / #Liberal / #Nationals / #HousingEmergency / #Housing / #renting <theguardian.com/australia-news>

The Guardian · Melbourne nurse Sarah is trying to save for a home near work – neither party’s housing plan will get her any closerBy Cait Kelly

The issue of 'fiscal drag' (income tax thresholds not keeping up with average wage rises & thereby moving more people into higher tax brackets) would also seem to be having an effect on inheritance tax.... but here we might want to argue that unlike income tax where fiscal drag seems to be non-progressive (by requiring the lower, but still well paid, to pay more tax), any fiscal drag in IHT might be seen as a reasonable response to the UK's problem with wealth inequality?

Hmmm.... some leading supermarkets have come out in support of the National Farmers' Union demand that changes in inheritance tax as they effect farmers should be pause while the impact of implementation is assessed.

Now, the Q. is: is this good faith support, or a bit of distraction politics to lead farmers' supporters away from continuing problem with supermarkets domination of the food system & their aggressive treatment of their supplies?

Just asking....