Inheritance Inequality
The distribution of inherited wealth is unequal. The majority receive little while only a small number inherit larger amounts.
Arguments for eliminating the disparagement of inheritance inequality include the right to property and the merit of individual allocation of capital over government wealth confiscation and redistribution. In terms of inheritance inequality, some economists and sociologists focus on the inter generational transmission of income or wealth which is said to have a direct impact on one's mobility (or immobility) and class position in society. Nations differ on the political structure and policy options that govern the transfer of wealth.
According to the American federal government statistics compiled by Mark Zandi, currently of "Moody's Economy.com", back in 1985, the average inheritance was $39,000. In subsequent years, the overall amount of total annual inheritance was more than doubled, reaching nearly $200 billion. By 2050, there is an estimated $25 trillion average inheritance transmitted across generations. Some researchers have attributed this rise to the baby boomer generation. Historically, the baby boomers were the largest influx of children conceived after WW2. For this reason, Thomas Shapiro suggests that this generation "is in the midst of benefiting from the greatest inheritance of wealth in history."
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Famous quotes containing the words inheritance and/or inequality:
“Someone in the crowd said to him, Teacher, tell my brother to divide the family inheritance with me. But he said to him, Friend, who set me to be a judge or arbitrator over you?”
—Bible: New Testament, Luke 12:13,14.
Jesus.
“The doctrine of equality!... But there exists no more poisonous poison: for it seems to be preached by justice itself, while it is the end of justice.... Equality for equals, inequality for unequalsMthat would be the true voice of justice: and, what follows from it, Never make equal what is unequal.”
—Friedrich Nietzsche (18441900)