Universal Inheritance: Would €20k at 18 help to reset inequality? [Germany]

Deutsche Welle ^ | 01.12.2022 | Nik Martin

[Olog-hai]

In December, while the world’s attention was on the emergence of the omicron coronavirus variant, the German Institute for Economic Research revived a centuries-old idea to help tackle wealth inequality.

Universal Basic Inheritance, or Grunderbe in German, would assign €20,000 ($22,720) to each resident upon reaching 18 years of age. The sum would be earmarked to pay for education or training, a property downpayment or for starting a business — not to be squandered.

The idea is in a similar vein to the Universal Basic Income, a welfare replacement scheme being trialed by governments around the world, which awards people a minimum monthly income without being means-tested.

“If we really want to create prosperity for everyone in the foreseeable future, then we should reduce the high level of wealth inequality through redistribution; by giving the non-asset owning half of the population a basic inheritance,” the German think tank’s tax expert Stefan Bach wrote in his proposal.

Bach said based on around 750,000 German residents reaching adulthood every year, the universal inheritance would cost the German government around €22.6 billion per year. It could be financed by hiking inheritance tax, introducing a tax on the ultrawealthy and by reforming property taxes. …

[BenLurkin]

Insanity.

[Rurudyne]

These days Ahabs kill Naboths and sieges his vineyard claiming they want to give to the poor and needy.

[Fai Mao]

Better at birth and then put into a mutual fund until 18.

[ETCM]

It could be financed by hiking inheritance tax, introducing a tax on the ultrawealthy and by reforming property taxes.

"Universal Inheritance". A feel-good term for redistribution of wealth.

[Right_Wing_Madman]

Universal Basic Inheritance, or Grunderbe in German, would assign €20,000 ($22,720) to each resident upon reaching 18 years of age.

If I received a lump sum of $22,000 at age 18, I would have spent it on beer and women.

[Brian Griffin]

“education”

Cannabis Cultivation 101
Cannabis Quality Measurement 201

[mcshot]

I can relate.

[Brian Griffin]

Herr Verwalter:

Marriage can be a good investment and Carol and Amy were the best available investment candidates for me.

[Brian Griffin]

vote-buying German-style

[rfp1234]

The homeland of Einstein and Heisenberg has become a haven for morons. Trying to force “equality” is like trying to reverse the Principle of Entropy.

[IYAS9YAS]

Nein. Nächste Frage

[Brian Griffin]

I have 20,000 Euros and would like to make a downpayment on a property.

We have beach cabins on the North Sea and parking spaces you might like.

[Brian Griffin]

In my youth, the typical minimum age to dole out an inheritance was 25 years old.

[Brian Griffin]

Wieviel, Fritz? 20,000Euros

Wieviel, Jeff? $200,000,000,000

The new math must have a new form of equality.

[glorgau]

It will all end up in the hands of the top 20%. Giveaways like this always work out that way.

[CurlyDave]

If I received a lump sum of $22,000 at age 18, I would have spent it on beer and women.

At least you wouldn't have wasted it...

[Does so]

Fund “Grunderbe” with the marijuana sales tax.

[metmom]

No, because if someone someone was able to magically level the playing field and everyone were able to start with their own home and the exact same amount in assets, within a year, there would still be great disparity.

Some people are really good at managing money and some are really good at wasting it.

And the problems with mankind are moral in nature, not financial, political, societal, or educational.

Fix the man morally, and THATis when most of our problems will go away.

[Elsie]

And the problems with mankind are moral in nature, not financial, political, societal, or educational.

Bingo.

But morals come from religion.