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   The American idle rich inherit a lightly-taxed, multi-million dollar trust fund fortune, never work a day in their life and do absolutely nothing to earn their daily bread

04 May 2012 12:10 PM   |   2033 clicks   |   Pravda
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ecmoRandomNumbers    [TotalFark]  
What is it with Russian writers? They must get paid per word.

04 May 2012 02:45 AM
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PreMortem    [TotalFark]  
ecmoRandomNumbers: What is it with Russian writers? They must get paid per word.

A Russian named John Fleming?

Not knowing who this guy is, I read his bio from Amazon. I liked this about a book:

"Although I use the psychoanalytic term narcissism, I reject that quackery as a bogus pseudoscience and will not employ psychoanalytic concepts except to dismiss them as worhtless incorrigible imbecility."

/lol

04 May 2012 03:06 AM
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This About That    [TotalFark]  
Yeah we all know about that. The question is, why is the chief Russian propaganda organ bringing this up at this time?

04 May 2012 04:14 AM
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Petit_Merdeux     
It's the same for the idle rich outside America.

Except for the "lightly taxed" part.

04 May 2012 04:19 AM
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AbbeySomeone     
PreMortem: ecmoRandomNumbers: What is it with Russian writers? They must get paid per word.

A Russian named John Fleming?

Not knowing who this guy is, I read his bio from Amazon. I liked this about a book:

"Although I use the psychoanalytic term narcissism, I reject that quackery as a bogus pseudoscience and will not employ psychoanalytic concepts except to dismiss them as worhtless incorrigible imbecility."

/lol


He's pretty full of himself.

04 May 2012 06:22 AM
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Petit_Merdeux     
PreMortem: A Russian named John Fleming?

Not knowing who this guy is, I read his bio from Amazon. I liked this about a book:




I liked that James Bond guy.

04 May 2012 07:53 AM
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MaudlinMutantMollusk    [TotalFark]  
Petit_Merdeux: PreMortem: A Russian named John Fleming?

Not knowing who this guy is, I read his bio from Amazon. I liked this about a book:



I liked that James Bond guy.


Chitty Chitty Bang Bang was okay, too

04 May 2012 07:55 AM
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Cythraul    [TotalFark]  
Pravda, eh? This from a country where they have people who coat their furniture with gold and buy tiny giraffes and pay other people to work out for them.

04 May 2012 08:15 AM
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kingoomieiii    [TotalFark]  
"As Publius Syrus wrote, desunt inopiae multa, avaritiae omnia. [Followed by no translation]"

Thanks, I have to use Google now, you academia-fellating prick. "Oh, I just figured most people would be cultured enough to know most of the Latin quotes I do."

04 May 2012 09:59 AM
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serial_crusher    [TotalFark]  
Good for them, I guess. Their ancestors were horrible people for failing to instill actual values in their children, but I guess now the damage is done and we're stuck with them.

Even if I make it big, the most my kids are going to get out of me after they turn 18 is 4 years of college tuition. I've usually said the rest of my estate will go to charity, but in the middle of writing this, I think it would be cool to set up a trust fund that pays tuition for my grandchildren, incase my kids aren't able to do so themselves.

04 May 2012 11:48 AM
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qorkfiend     
Cythraul: Pravda, eh? This from a country where they have people who coat their furniture with gold and buy tiny giraffes and pay other people to work out for them.

The real question is: what is their tax rate?

04 May 2012 12:12 PM
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Pro Zack     
The rich are the new welfare queens?

04 May 2012 12:13 PM
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Splinshints     
Ummm... yea, I guess some of them...

I don't begrudge them this luxury, though I would like to see much heavier taxes levied on non-investment, non-earned income like inheritance (why should you pay any less taxes for winning the vagina lottery than the state lottery?).

But, then, I also don't think many of the rich fall into that category. I'm much more worried about the assholes using their wealth to exercise undue and corrupting influence on politicians so they can enact loop holes and special rules that allow them to squirrel away wealth or manipulate financial vehicles instead of having to compete in a market of ideas like the rest of us to continue growing their wealth.

I don't give a shiat if Muffy wants to bleed her daddy's industrial empire from the deck of a megayacht. I do give a shiat about destructive people like the Koch brothers who want to use their wealth to bleed democracy, however.

/ so, yea, whatever Pravda... shine on you crazy diamond

04 May 2012 12:17 PM
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naveline     
Truth. It's the only thing the Russian media is interested in, other than making up stories about a sharia law that would make it okay to pork your recently dead wife.

04 May 2012 12:18 PM
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Citrate1007     
So eat the rich?

04 May 2012 12:20 PM
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Dusk-You-n-Me    [TotalFark]  
Pro Zack: The rich are the new welfare queens?

Preposterous.

Have been since around 1980.

04 May 2012 12:20 PM
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bdub77    [TotalFark]  
Yeah. In Russia, you have to slit a few throats first. Americans don't have to kill anybody to earn an undeserved fortune.

I propose we put these American trust fund babies in a pit and force them to fight it out for survival. Winners take all the oil money.

04 May 2012 12:22 PM
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Make More Hinjews     
I remember reading some serious wackiness printed in Pravda from conservatives, oh, let's say about... two, three months ago? It was by an American conservative and it was about how President Obama was wildly unpopular and was about to be overthrown in a coup or something.

While obviously this author has a better grasp on reality, it's very interesting that Pravda still makes a habit of taking American "experts" to spout the most extreme views to cast a pallor on America as a whole. You think Pravda's gotten the memo yet that the 1991 coup failed?

04 May 2012 12:22 PM
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Citrate1007     
You know, both Batman and Iron Man would fall into this category. Without allowing a capitalistic monarchy, how will our society ever create a super hero to save the world?

04 May 2012 12:22 PM
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gadian     
Are you kidding? Those two phone calls I make a day are very, very taxing. Well, ok, that's not me. But I know a guy whose "job" is to make two phone calls - one to a broker and one to a banker - a day. He can do this from anywhere in the world. He makes me sick. AND he won't tell me how he did it.

04 May 2012 12:23 PM
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Wendy's Chili     
Splinshints: I do give a shiat about destructive people like the Koch brothers who want to use their wealth to bleed democracy, however.

It should be noted that the Kochs inherited a multi-million dollar corporation.

04 May 2012 12:25 PM
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pacified     
THE ARISTOCRATS!

04 May 2012 12:25 PM
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NallTWD     
Am I agreeing with Pravda? S**t, maybe there IS something to this 2012 apocalypse...

04 May 2012 12:26 PM
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Ishkur    [TotalFark]  
I have a theory that productivity and contribution to society is a bell curve very reminiscent of the Laffer Curve.

The opposite extremes are leaches who take from the system and don't give anything back. The people in the middle are the ones who do all the work and support the opposite extremes without so much as a thanks.

When you frame it in this context, the very poor and the very rich are pretty much identical: Both are self-serving sponges off the opulence of the system who don't care who they hurt. The middle class are the only heroes.

04 May 2012 12:27 PM
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way south     
Petit_Merdeux: It's the same for the idle rich outside America.

Except for the "lightly taxed" part.


I'm sure they find a way. Whether its by investment games and tax breaks or paying governments to look the other way while they stick their superfluous cash in special accounts.

Every politician and dictator wants the help of the wealthy.
They might fool the locals by saying they tax more than these lazy and corrupt fools in the US, but I doubt all those Russian gangsters or princes from Dubai are being fleeced by their governments.

/If they were, they'd move all their money here.

04 May 2012 12:27 PM
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pacified     
Man, was that a bad choice by me, not being born out of a more wealthy vagina.

04 May 2012 12:28 PM
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QU!RK1019     
gadian: Are you kidding? Those two phone calls I make a day are very, very taxing. Well, ok, that's not me. But I know a guy whose "job" is to make two phone calls - one to a broker and one to a banker - a day. He can do this from anywhere in the world. He makes me sick. AND he won't tell me how he did it.

Just sign up for his seminar and he'll teach you all his secrets to success!

04 May 2012 12:28 PM
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meat0918     
kingoomieiii: "As Publius Syrus wrote, desunt inopiae multa, avaritiae omnia. [Followed by no translation]"

Thanks, I have to use Google now, you academia-fellating prick. "Oh, I just figured most people would be cultured enough to know most of the Latin quotes I do."


And damnit all, I think he's found a new way to generate Google hits.

All I can find is links to his article in various languages...

04 May 2012 12:31 PM
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Turbo Cojones     
How much is that in bird shirts?

04 May 2012 12:31 PM
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loonatic112358    [TotalFark]  
Damn you Christina Aguilera

oh, wait, American idle

04 May 2012 12:31 PM
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Philip Francis Queeg     
What a ridiculous notion. Look at these hardworking boys. They have earned every dime they have.

act.mtv.com

04 May 2012 12:31 PM
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Glenford    [TotalFark]  
Does anyone else see img0.fark.net and read it as NAMBLA?

04 May 2012 12:32 PM
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imashark     
kingoomieiii: "As Publius Syrus wrote, desunt inopiae multa, avaritiae omnia. [Followed by no translation]"

Thanks, I have to use Google now, you academia-fellating prick. "Oh, I just figured most people would be cultured enough to know most of the Latin quotes I do."


My 3 years of Latin in college years ago translates that as:

"Those who are poor lack many things, those who are wealthy lack all."

(Had to look up inopiae...)

04 May 2012 12:33 PM
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BudTheSpud     
QU!RK1019: gadian: Are you kidding? Those two phone calls I make a day are very, very taxing. Well, ok, that's not me. But I know a guy whose "job" is to make two phone calls - one to a broker and one to a banker - a day. He can do this from anywhere in the world. He makes me sick. AND he won't tell me how he did it.

Just sign up for his seminar and he'll teach you all his secrets to success!



The best way to make money in the USA is to make everyone believe you're making money. You don't have to be making money to do this. You just have to pretend!

04 May 2012 12:34 PM
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imashark     
imashark: kingoomieiii: "As Publius Syrus wrote, desunt inopiae multa, avaritiae omnia. [Followed by no translation]"

Thanks, I have to use Google now, you academia-fellating prick. "Oh, I just figured most people would be cultured enough to know most of the Latin quotes I do."

My 3 years of Latin in college years ago translates that as:

"Those who are poor lack many things, those who are wealthy lack all."

(Had to look up inopiae...)


(read read read)

Damn. It means:

"To poverty many things are lacking; to avarice, everything"

From: http://www.umass.edu/wsp/reference/lan guages/latin/quotations/i.html

04 May 2012 12:35 PM
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Virulency     
Dusk-You-n-Me: Pro Zack: The rich are the new welfare queens?

Preposterous.

Have been since around 1980.


well if you make the rules you can give yourself welfare...

04 May 2012 12:37 PM
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edmo    [TotalFark]  
If the idle rich don't exist than it must be equally true that they are not paying most of the taxes.

04 May 2012 12:38 PM
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Splinshints     
Wendy's Chili: It should be noted that the Kochs inherited a multi-million dollar corporation.

True, but they're hardly idle rich. I have no difficulty what-so-ever in believing that it's extremely hard work maintaining the level of freedom-destroying evil they manage to reach.

04 May 2012 12:42 PM
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TheGreatGazoo     
So how many of them are there? According to the Millionaire Next Door, something like 78% of all millionaires are first generation rich. Most of them you'd never know it.

04 May 2012 12:44 PM
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Giltric    [TotalFark]  
I live in a country where more focus is put on a couple thousand "idle rich" then why millions of gays can't legally get married.



Is idle rich the new wedge issue?

04 May 2012 12:46 PM
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ManRay     
I have a good friend that gets just enough from his trust that he does not have to work. His parents are still alive and at some point realized he was not going to do much with his life so they cut off a little piece for him. He could live a real comfortable existence if he had just a little bit of motivation to work and let the trust supplement his income, but he chooses to scrape by and do nothing. It his choice but I I don't get it.

I learned a long time ago to not loan him money for a bar tab unless it is near the end of the month. He gets "paid" on the 1st, so if he runs short mid month he will not pay you back for a few weekends

04 May 2012 12:47 PM
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Arkanaut     
I'm no fan of trust fund babies, but having Pravda (in any of their incarnations) argue your case is not the best idea.

04 May 2012 12:47 PM
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Ishkur    [TotalFark]  
Splinshints: True, but they're hardly idle rich. I have no difficulty what-so-ever in believing that it's extremely hard work maintaining the level of freedom-destroying evil they manage to reach.

How many jobs do you suppose they create in doing that?

...just wondering, is all.

04 May 2012 12:48 PM
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skullkrusher    [TotalFark]  
TheGreatGazoo: So how many of them are there? According to the Millionaire Next Door, something like 78% of all millionaires are first generation rich. Most of them you'd never know it.

hehe that's probably because they don't hand out diamond encrusted monocles when you join the millionaires club.

04 May 2012 12:49 PM
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Philip Francis Queeg     
Giltric: I live in a country where more focus is put on a couple thousand "idle rich" then why millions of gays can't legally get married.



Is idle rich the new wedge issue?


Actually the two issues are related, because those same idle rich have enormous power over our political system.

04 May 2012 12:50 PM
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Debeo Summa Credo     
TheGreatGazoo: So how many of them are there? According to the Millionaire Next Door, something like 78% of all millionaires are first generation rich. Most of them you'd never know it.

And the other 22% had a relative who was first generation rich and decided that he/she wanted his ancestors to be rich, too.

If Mark Zuckerberg clears $20b from Facebook and he decides Mark Jr., Mark III amd Mark IV deserve to live a life of luxury and ease from the fortune he earned, who the fark is Pravda or anyone else to biatch about what Mark Zuckerberg wants to do with his fortune?

I mean, we have to raise revenue and an estate tax is one of the methods we use to raise revenue, so I'm not arguing for its abolition at all. But philosophically there's nothing immoral about inheriting wealth. Someone else earned it and by right they can decide whatever the fark they want to do with it. If you don't like it that's too bad - your grandfather wasn't as successful as Richie Rich's grandfather.

04 May 2012 12:52 PM
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LarryDan43     
Citrate1007: You know, both Batman and Iron Man would fall into this category. Without allowing a capitalistic monarchy, how will our society ever create a super hero to save the world?

Im certain Fox News would treat Bruce Wayne like Soros. Stark would probably be ignored. They wouldn't know how to handle a freedom fighter who built cool guns.

04 May 2012 12:52 PM
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Splinshints     
Ishkur: How many jobs do you suppose they create in doing that?

Create? Probably at least a few, but I wouldn't go too far down that road since there plenty of reasons other than "maliciously dishonest propaganda campaigns aimed at entrenching unfair advantages for the tiny majority of the superrich" to need signs and websites and whatnot.

It's a moot point, though. All sorts of things that shouldn't happen "create jobs". The Mafia "creates jobs". Illegal drug cartels "create jobs". Doesn't mean we should ignore their relentless destructive influence.

04 May 2012 12:53 PM
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tomWright     
of course they are lightly taxed. Why tax them when corporations, the middle and lower classes are taxed ?

Plus all those taxes on the little people keep them from jumping up and cluttering the scenery with their Faded Glory jeans and budweiser t-shirts on our eco-tours

04 May 2012 12:54 PM
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skullkrusher    [TotalFark]  
Debeo Summa Credo: TheGreatGazoo: So how many of them are there? According to the Millionaire Next Door, something like 78% of all millionaires are first generation rich. Most of them you'd never know it.

And the other 22% had a relative who was first generation rich and decided that he/she wanted his ancestors to be rich, too.

If Mark Zuckerberg clears $20b from Facebook and he decides Mark Jr., Mark III amd Mark IV deserve to live a life of luxury and ease from the fortune he earned, who the fark is Pravda or anyone else to biatch about what Mark Zuckerberg wants to do with his fortune?

I mean, we have to raise revenue and an estate tax is one of the methods we use to raise revenue, so I'm not arguing for its abolition at all. But philosophically there's nothing immoral about inheriting wealth. Someone else earned it and by right they can decide whatever the fark they want to do with it. If you don't like it that's too bad - your grandfather wasn't as successful as Richie Rich's grandfather.


The overwhelming majority of his estate can be rather easily shielded from estate taxes. Hell, my wife and I have trusts set up to avoid estate taxes for our son.

04 May 2012 12:55 PM
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