Removing the ability to create passive income streams removes the incentive to invest time and money. Entrepreneurship can be switched off like a light if the incentives are removed. When Entrepreneurship is extinguished, quality of life for everyone decreases.
People start businesses knowing the odds are long but the rewards are great if they pull it off.
There are those that complain about 'trust fund kids' who are born into wealth. They're a very tiny percentage of population, the wealth doesn't usually last many generations, and 'passing it on' is also a major motivator for many people.
For each douchebag with rich parents there are others who use their financial freedom to work on hard problems.
Charles Darwin was the grandson of Josiah Wedgwood. Wedgwood was one of the first industrial entrepreneurs and developed many business techniques still in use today. Darwin was an original 'trust fund kid' who used his financial freedom to pursue science and write his books, which changed the world for the better. There will be countless modern repetitions of this pattern, and you'd discard this type of benefit of inherited wealth at peril.
Yes.
Removing the ability to create passive income streams removes the incentive to invest time and money. Entrepreneurship can be switched off like a light if the incentives are removed. When Entrepreneurship is extinguished, quality of life for everyone decreases.
People start businesses knowing the odds are long but the rewards are great if they pull it off.
There are those that complain about 'trust fund kids' who are born into wealth. They're a very tiny percentage of population, the wealth doesn't usually last many generations, and 'passing it on' is also a major motivator for many people.
For each douchebag with rich parents there are others who use their financial freedom to work on hard problems.
Charles Darwin was the grandson of Josiah Wedgwood. Wedgwood was one of the first industrial entrepreneurs and developed many business techniques still in use today. Darwin was an original 'trust fund kid' who used his financial freedom to pursue science and write his books, which changed the world for the better. There will be countless modern repetitions of this pattern, and you'd discard this type of benefit of inherited wealth at peril.