It is often believed that poorer people are worse behaved and therefore undesirable neighbors; and certainly enough, certain pathological behaviors are more common in the poor communities. This is used as an argument for zoning and government land use control […]
Wealth
The Upper Middle Class Versus the 1%?
Matt Miller, Californian commentator, comments in his book The Tyranny of Dead Ideas that it probably will be the upper middle class, or ‘lower upper’ as he calls it, that will lead the opposition to the so called 1%, and […]
“Spoiled Rich Kids” and “Ghetto Gangsters”
Trustfunders like myself are accused of a lot. We are accused of being ‘spoiled’, whatever that is. Some of us take the route of a Paris Hilton, others of us follow the rather ostentatious simplicity of the so-called ‘trustafarian’. But […]
Does Mitt Romney Have Status Guilt?
I have here a transcript of the controversial Mitt Romney ‘47%’ speech to his donors in Boca Raton last May. It strikes me as a bit manipulative that Mother Jones waited three months to release it. Apart from a few […]
Issue of Hybridization between Philanthropy and Investment
Another approach by David Bornstein to the issue of hybridization between philanthropy and investment from my recent post Philanthropy and Investment: The Distinctions Begin to Blur. Related: “For Ambitious Nonprofits, Capital to Grow” by David Bornstein at NYTimes.com
Philanthropy and Investment: The Distinctions Begin to Blur
I grew up believing that ‘philanthropy’ and ‘investment’ were two distinct things and not to be confused. They both serve the public, but in different ways; investment in business by [hopefully] producing worthy products at enough profit to make a […]
We’re The Trustfunders!
Actually, Forbes is as prejudiced as Occupy. You can’t generalize about us one percenters. Some have indeed provided excellent products and services, or done good philanthropic work. Some have made money without doing much really productive for society, like hedgefunders. […]
Progressive Consumption Taxes
I agree with Frank, not with Henderson. I have a lot less problem with progressive consumption taxes on the rich than with progressive income taxes. That way if the rich use their money constructively, for capital investment, saving, or philanthropy, […]
WSJ Reports an a Wealth Camp for Heirs…
The Wall Street Journal reports an a wealth camp for heirs. Something like that would be a great thing for trustfunders, especially the ‘true’ trustfunders who will probably not be going into ‘business.’ Heirs often have mental blocks about the […]
The Value of Inheritance
In a recent newsletter of the evangelical The Gathering, Erik Johnson and Gabriel Schulze discuss the question of whether it is wise to leave money to your children. I have some opinions about that. Here are the options: As Ron […]