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It's pure conjecture to say that trustafarians are less likely to achieve notable accomplishments merely on the basis of having inherited the wealth - it just 'sounds' like it should be the case, but the basis for this argument is very flimsy - that the absence of financial struggle (which is ostensibly the driver of betterment in the athletes, per the post) implies absence of other types of drivers (be they any other type of struggle or something else, like pride, for example, or an innate need to achieve more than your parents, or something else altogether). It takes a number of important, fundamental - and unproven - assumptions to reach the conclusion that being born to wealth will invariably result in lower drive to excel and achieve. On a separate note, the inheritance tax is, without a close second, the most stupid, unfair tax that comes to mind (coming from a lower middle-class guy who will inherit nothing). To tax property which has ostensibly already been taxed adequately during the life of its original owner again after they die? A form of legalized theft, that - no logical ground based on which this makes any sense. All this said, in a narrow choice of sporting talent and a trust fund, I'd pick a trust fund - all other things being equal, not having prodigious talent doesn't bar me as a wealthy person from achieving moderate or even great success in sports, should I choose to apply effort to that end. It also offers me choice in the sense that I am not existentially dependent on my athletic performance - should I decide I've put my body through enough punishment, I can quit knowing my family and I won't starve... Taking talent over trust makes sense in a very, very narrow set of circumstances...
Toggle Commented Apr 10, 2017 on The sporting life, & taxes at Stumbling and Mumbling
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Dec 3, 2009