There’s no reason to demonize inheritances.
However, nothing about LARGE inheritances is right or righteous.
Yes – per Proverbs 13:22 – – good men leave inheritances.
But PERFECT men (per Jesus) sell everything and give it to the poor.
Everyone only “plans” to leave the largest inheritance for their children by default because there is no other option presented to us.
No national program, to consider as an alternative to the ‘suffocate the poor‘ plan.
For a moment, Consider the other options…
What exactly are your goals?
To perpetuate the concentration of wealth into the hands of a couple offspring?
Or to use what little you have, to raise the MEDIAN wealth of historically disadvantaged people in this country?
You really only have 2 options.
Ask yourself, seriously…
– is wealth concentration the problem, or the solution???
– WHICH do you want to contribute to????
Would you personally do what you want others to do?
People have the nerve to complain about not being able to access wealth concentrated into the hands of a few [white] people.
But when YOU HAVE THE CHOICE to distribute your wealth to as many talented underprivileged people as possible, far too many of those same people balk at the idea.
It’s awfully hypocritical. You’ve got to admit.
…for us to expect wealthy white people to distribute their wealth to low wealth [black] Americans, but even “you” won’t personally do it.
…for us to lament that they’re sequestering their wealth behind trusts, but even “you” won’t distribute a sizable portion of what you have as a philanthropic investment into a talented American from a low wealth household.
Millions have lived and died waiting for an opportunity.
Life is short.
For the BRIEF 100 years we have on Earth, what exactly do you want the world to look like in the couple hundred to come thereafter?
Tens of millions of Black American people who were involuntarily brought to or were born on this continent have lived and died waiting for an opp.
Lived and died waiting.
Stop, and realize – unless YOU independently choose to DO SOMETHING, tens of millions (even hundreds of millions) more in the coming generations will live and die waiting for ‘equal opportunity’.
It comes down to your goals.
Either you want to close the wealth gap by race or you don’t.
Your actions will decisively elucidate your underlying moral code, and place you solidly into either bucket of people.
Benefit the greatest or fewest number of people?
We all know basic statistics.
Average vs median.
You can skew the average with a few ultra rich people at the top.
But that does nothing for MOST of the people.
The median is truly the middle number – less likely to be skewed by a few people at the top.
DO YOU WANT THE MEDIAN WEALTH of Black American people to rise?
Do you? It’s ok for your answer to be no.
If however, by chance, the answer is yes, then what are YOU willing to do about it???
Take matters into your own hands – PERSONALLY take responsibility for the progress of historically maltreated people.
Not just the talented tenth.
Not just your kids.
But as many of them as you possibly can.
And if you may have goals that are not aligned with ours, that’s ok.
But if you want to reduce the painful MEDIAN wealth gap by race, what is your plan to make it happen?
Limited options to affect the median gap…
Keep in mind, there are 15M Black households.
1 – leave a LARGE inheritance to only your children, AND somehow have enough children with one wife to make a statistical dent in the 15M number? This is physically impossible.
or 2 – Have a few kids, like any normal American, make sure they have minimum expenses secured through life, and distribute the rest equally to other low wealth, high talent, youths in a REASONABLE manner?
Please derive a 3rd option if you want.
The fact is, you will NEVER raise the median wealth, by focusing on YOUR children, nor by focusing on the “talented tenth” – and leaving the 90% behind!
It is statistically impossible.
Independently determine if wealth concentration is “good” for society…
But again, all this depends on your goals.
Do you look at wealth concentration and the wealth gap by race as the problem or the solution?
Do you want to perpetrate the problem OR commit yourself to being part of the solution?
If you personally know the pain of poverty that black American people are at higher risk of experiencing, are you compelled to ensure fewer people within that demographic feel that pain?
Shifts in legislative policy are coming, regarding estate taxes and rules on passing wealth to children. Most foresee, that they are not being written to encourage wealth distribution to low wealth people.
THIS IS ALL THE MORE REASON why now more than ever, we would personally and voluntarily CHOOSE to do differently only IFF you want to positively affect the underclass economically.
They’re telling you plainly — ‘DO NOT WAIT FOR US TO SAVE YOUR PEOPLE’.
Tens of millions have lived and died waiting.
Hundreds of millions will continue to live and die waiting…
UNLESS YOU CHOOSE TO DO SOMETHING differently.
Proverbs does encourage good people to leave an inheritance to their children’s children.
But can we be more thoughtful about exactly what that looks like?
Proposed shifts to corporate and estate tax code only enables greater small business investments.
In terms of the proposed changes to law, we are actually supporters of what the experts say is coming down the pike.
In the context of the model for which we are advocating right now, this would provide young talented black American people with yet another reason to own a C corp – beyond the reasons already established – and any prospective HNW people with a righteous moral code can make investments into those businesses.
It’s a long term win-win for everybody. With GDP at all time multi-century lows, this has tremendous potential.
In terms of the potential for the proposed estate tax shifts, these shifts put the voluntary responsibility on HNW people to do as they wish with their money.
Example – If you WANT to make $60k investments using $300M inheritance into 5,000 C corp’s owned by single owner talented Black Americans, then you may have more liberty to do that.
Previously, your ability to distribute $300M would have been considerably more restricted because the government would have taken a larger portion of that cash… and we hard-pressed to find any government programs that set aside cash for talented Black Americans to use their skills.
So, HNW people get the liberty to do MORE of what they independently want for the good of American society, since governments have largely been unwilling and/or unable.
“What keeps black Americans so poor?”
(1) When wealthy people of any ethnicity hog cash, this is what keeps black people poor.
The scripture verses may or may not be completely falsified fairy tales.
But coincidentally, the guy people claim was named Jesus, shared valid principles on economic development that are absolutely relevant today.
Jesus indeed wants us to be wealthy – otherwise, you’ll have nothing to sell, and therefore give it to the poor.
And, (2) saying that Jesus doesn’t want us to be rich, is also what keeps black Americans poor.
The model is quite simple….
…commit to amass wealth and give it all to poor talented people who commit to amass wealth and give it all to poor talented people who commit to amass wealth and give it all to poor talented people who commit to amass wealth and give it all to poor talented people who commit to amass wealth and give it all to poor talented people who commit to amass wealth and give it all to poor talented people who commit to amass wealth and give it all to poor talented people who commit to amass wealth and give it all to poor talented people who commit to amass wealth and give it all to poor talented people who commit to amass wealth and give it all to poor talented people who commit to amass wealth and give it all to poor talented people who commit to amass wealth and give it all to poor talented people who commit to amass wealth and give it all to poor talented people who…
An endless cycle.
THAT is how you eliminate poverty.
The choice to engage this simple methodology is completely yours to make.