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Originally Posted by jimjamuser
Who are today's rich ? For the most part they are people whose family were rich for generations and they went to the best schools. Yes, a small % of the rich were "self-made". The original INTENT of America was that EACH generation must make their OWN way. Inheritance tax was supposed to force that to happen. But, each generation found ways to legally and illegally overcome that basic idea of each generation starting at zero wealth. Look at today's wealthiest individuals and very few were "self-made" without prior generational wealth support.
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Quote:
Originally Posted by golfing eagles
I missed that in constitutional law class. Could you please point that out in the Constitution (of the United States of America).
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Quote:
Originally Posted by jimjamuser
It is NOT SPECIFICALLY mentioned in the constitution, but the 14th amendment says basically that the US should avoid DEBT. Thomas Jefferson wrote many times that debt should be avoided. So did James Madison and George Washington. Basically, the Founding Fathers worried about responsible Fiscal management.
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If there's a train of thought that answers the question of "Intent of each generation to make its own way" in that reply, I seem to be missing it. Right now, the best way to avoid government debt is to drastically reduce the freebies given out.