A couple comments in this thread reminded me that DeVos inherited his fortune and, somewhat off-topic, it ought to be mentioned that increasing numbers of the wealthy are just like him: winners of the birth lottery rather than entrepreneurs; e.g., heirs will soon constitute a majority of the super-wealthy in the United States.
Back in 1835, Alexis de Tocqueville applauded the US for laws defending against the development of an hereditary aristocracy, the sickness of old Europe; e.g., Chapter 18 of Democracy in America
No great change takes place in human institutions without involving among its causes the law of inheritance. When the law of primogeniture obtained in the South, each family was represented by a wealthy individual, who was neither compelled nor induced to labor; and he was surrounded, as by parasitic plants, by the other members of his family, ...who led the same kind of life as himself. ...
No sooner was the law of primogeniture abolished than fortunes began to diminish and all the families of the country were simultaneously reduced to a state in which labor became necessary to existence; several of them have since entirely disappeared … Wealthy individuals …no longer constitute a compact and hereditary body, nor have they been able to adopt a line of conduct in which they could persevere and which they could infuse into all ranks of society. …
But that was then and this is now: The wealthy have succeeded in resurrecting their status and power via corporate, estate and trust law with the bonus that divisibility of modern financial assets now allows lesser scions of ‘noble’ houses access to the same legally protected, intergenerational trough that was once the exclusive right of firstborn. That trend must not only be stopped, it must be reversed if we are to revitalize democracy.
As planters…so easy to water. BTW know from experience that’s really bad on the plumbing. Fresh. Yr. college lived on a female only floor in a previously male only wing. Someone thought it would be a nice touch to plant flowers in urinals.
Why there *should* be an inheritance tax. Note that’s it’s almost certainly something that’s under the current tax “reform” microscope for, obviously, elimination. Since it hurts “small business owners and farmers”.
Yes but the new aristocracy will certainly not stop at greater ‘freedom’ from social obligation for birth lottery winners: Witness ALEX and the rest of the sociopolitical subversion machinery funded by archetypical heirs such as the Kochs.
Dollars to donuts she pays for alot of this stuff through some business entity. She could be her own LLC, even. Probably is. So making it a business expense reduces taxable income for the business.
Folks in Cheetolini’s world don’t pay for things like you & I do!
I don’t find that to be a fair statement at all. She’s actually saving the government money by using her own jet. The issue on travel is with people like Price, etc. Not DeVos.
If you have an issue with her policies, fine. But in this case, I say good for her.
What is the relevance of this story? Every time some piece of garbage like this shows up on TPM I am reminded of why I am not forking out extra $$ to join Prime.
She also came in with a lot of money herself as if you bought an American car in the late 70s through the 90s, the consul was probably designed by her fathers company.
