Re: OT: Inheritance Tax rant/discussion (was I'll take my chances-Ice Queen)

"Demetrius XXIV and the Gladiatores" <[EMAIL PROTECTED]> wrote in message
news:[EMAIL PROTECTED]
> On Tue, 02 Dec 2003 07:06:43 GMT, "REInvestments" <[EMAIL PROTECTED]>
> wrote:
>
> > In '75, my first house cost $33,500 and I was earning about $14,000 per
> >annum.       Our kids, if they are in New York City or worse, Silicon
> >Valley, will make about $50,000 getting out of college (assuming
college),
> >but a minimal house in Silicon Valley is  now about $500,000.   What used
to
> >be about a 2.5 to 1 ratio is now more like a 10 to 1 ratio.
>
> So what's your solution?
>
> Oh yes, creating special interest legislation so that those who have
> can gift to their kids and live like human beings... and everyone else
> goes to hell in a handbasket.

I work at several solutions.   I served on San Jose's Housing Task Force
under Mayor Hammer, as a volunteer, to determine how best to bring 10,000
new affordable units of housing to market.  I am also on the Board (for many
years) of First Community Housing, and we build affordable housing, largely
by selling tax credits to corporations, and using their money along with
Redevelopment money to bring housing on line that can be rented out under
market.  Some of our "rich" people and companies give us grants that we also
put into the cost of housing.   In my small way, I'm trying to bring housing
in Silicon Valley onto the market at prices that people who earn $50,000 or
less can live in.     We now combine that effort with using 'green'
materials, which cuts pollution and carcinogenic building materials, while
getting further tax breaks.  You'd be surprised at how many families, and a
certain amount of social security stuck seniors we've been able to get into
nice places to live.

I also lobby, locally, for shelters and transitional housing to help people
get on their feet.   Now that the diamonds no longer line our streets, we
have quite a number of jobless people who are shocked to find themselves
needing temporary shelter, or transitional housing.

I have nothing to do with it, but we now have loans for housing for teachers
which are partially forgiven if a teacher will commit to working in a
disadvantaged sector of the City for a few years.  This brings inner city
education up, allowing people to get the tools to help themselves, and
rewards the teachers, who aren't paid enough, with a chance to own a home.

I also spend a bit of time trying to convince people that estate taxes are
just another government grab, and a particularly unfair one at that.
You're not talking about bags of money, like you think you are.   Suppose
someone could leave $800,000 to four kids, or $200,000 each kid.    Or with
estate taxes, that would be 1/2 of that amount.   With $200,000, someone's
kid could get through college, get married, and maybe have enough for a
downpayment on a very small condo if Dad and Mom died.  The image of rich
people leaving millions to dilletantte children is a popular, but incorrect
picture.   "Fortune" has this white mustache, Rolls Royce image tied to it.
How about "head start".

And no, I don't have any perfect plan.  I'm just doing what I can.  My
personal plan is to work my ass off, and try to make sure that I have enough
not to become a burden to anyone else in my lifetime.   So far, so good.

Isn't this where Nixon should chime in and suggest that I pull the moat up
around my castle in "Willow Glen"?

>
> There once was an America (as you pointed out) where a man could
> strike out and make their own destiny. Today we need daddy's fortune.
> Tomorrow the family fortune won't be enough unless your last name is
> Rockefeller. At that point, 5% of the population will live like
> humans, the rest like animals. Like every other third world shithole.

Yes, class separation is getting worse.  But redistribution at death isn't
the right answer.  Leveling the playing field for opportunities by "bridging
the digital divide" ( our Rotary's pet phrase for bringing computers into
disadvantaged schools as donations), by increasing salaries and
concentrations of teachers, books, and so on is a better answer IMHO.

Anyway, this is how I approach it.  YMMV