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The Rich Kids Who Want to Tear Down Capitalism (NYT barf alert)
The New York Times ^ | November 27, 2020 | Zoë Beery

Posted on 11/29/2020 6:24:46 PM PST by KingofZion

Lately, Sam Jacobs has been having a lot of conversations with his family’s lawyers. He’s trying to gain access to more of his $30 million trust fund. At 25, he’s hit the age when many heirs can blow their money on harebrained businesses or a stable of sports cars. He doesn’t want to do that, but by wealth management standards, his plan is just as bad. He wants to give it all away.

“I want to build a world where someone like me, a young person who controls tens of millions of dollars, is impossible,” he said.

A socialist since college, Mr. Jacobs sees his family’s “extreme, plutocratic wealth” as both a moral and economic failure. He wants to put his inheritance toward ending capitalism, and by that he means using his money to undo systems that accumulate money for those at the top, and that have played a large role in widening economic and racial inequality.

*** Mr. Jacobs, as both a trust-fund kid and an anticapitalist, is in a rare position among leftists fighting against economic inequality. But he isn’t alone in trying to figure out, as he put it, “what it means to be with the 99 percent, when you’re the 1 percent.”

*** “I was always taught that this is just the way the world is, that my family has wealth while others don’t, and that because of that, I need to give some of it away, but not necessarily question why it was there,” said Rachel Gelman, a 30-year-old in Oakland, Calif., who describes her politics as “anticapitalist, anti-imperialist and abolitionist.”

"My money is mostly stocks, which means it comes from underpaying and undervaluing working-class people, and that’s impossible to disconnect from the economic legacies of Indigenous genocide and slavery,” Ms. Gelman said...

(Excerpt) Read more at nytimes.com ...


TOPICS: Business/Economy; Culture/Society; News/Current Events
KEYWORDS: communist; elite; elizabethbaldwin; emmathomas; margidashevsky; mariamyotte; millennial; piercedelahunt; rachelgelman; resourcegeneration; samjacobs; samvinal; socialist; thirdwavefund; thousandcurrents
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To: dynachrome

I’ll take a couple of million off his hands, I have been looking at out of state property and would like to have the cash on hand to buy.


41 posted on 11/29/2020 9:13:01 PM PST by 5th MEB (Progressives in the open; --- FIRE FOR EFFECT!!)
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To: Jeepers43

You should maybe tell the TARPAPER shack idiot that TARPAPER is made with PETROLIUM!

He’s not helping the planet, HE’S DESTROYING IT!


42 posted on 11/29/2020 9:16:21 PM PST by 5th MEB (Progressives in the open; --- FIRE FOR EFFECT!!)
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To: palmer

Looks like a broad you’d find in a sleazy Lima bar. Yuk.


43 posted on 11/30/2020 12:33:07 AM PST by W. (And now, more music, and Les Nessman!)
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To: KingofZion

These kids probably have no idea how their parents or grandparents got to be rich, nor do they have the slightest idea how the family business works. Compare this with the Meijer family. In their youth, each generation has worked in the stores and has grown up to run the business. One of the most recent generation, Pete Meijer, is now a representative in Congress
Full disclosure, #iworkformeijer


44 posted on 11/30/2020 12:35:22 AM PST by jmcenanly ("The more corrupt the state, the more laws." Tacitus, Publius Cornelius)
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To: W.

Ohio or Peru?


45 posted on 11/30/2020 12:40:51 AM PST by jmcenanly ("The more corrupt the state, the more laws." Tacitus, Publius Cornelius)
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To: KingofZion

i’ll take the $$ off his hands. Idiot.


46 posted on 11/30/2020 2:37:51 AM PST by ronniesgal ( no fool like an old fool!)
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To: KingofZion

bump


47 posted on 11/30/2020 3:06:37 AM PST by Oldeconomybuyer (The problem with socialism is that you eventually run out of other people's money.)
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To: KingofZion

A communist since college.....

I don’t care if he gives away all his money. I just don’t want him giving away my money


48 posted on 11/30/2020 4:06:05 AM PST by Nifster (I see puppy dogs in the clouds)
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To: KingofZion

I bet people who work for a living get more enjoyment from a $40,000 car than the born-rich kids get out of a $400,000 car paid for by mommy and daddy’s (or grandma and grandpa’s) money. And i doubt they would have a clue how to maintain or repair any vehicle.


49 posted on 11/30/2020 5:34:32 AM PST by utax
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To: SaveFerris

A couple of idiots who should have been stains on the sheets.


50 posted on 11/30/2020 6:48:22 AM PST by ridesthemiles ( )
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To: palmer

Good Morning, Boys & Girls:

Can we all say “UNGRATEFUL” ?????


51 posted on 11/30/2020 6:50:26 AM PST by ridesthemiles ( )
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To: jmcenanly

Ohio! I’m not THAT well-traveled... ;)


52 posted on 11/30/2020 7:23:40 AM PST by W. (And now, more music, and Les Nessman!)
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To: KingofZion

Mr. Jacobs, as both a trust-fund kid and an anticapitalist

It’s a lot easier to be an aniticapitalist when you have a trust fund and don’t have to do anything like find a job and work.

Most of the communists/antifa etc are NOT from the poor neighborhoods. Those people have to work, don’t have time for playin political games.


53 posted on 11/30/2020 10:09:10 AM PST by allwrong57
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To: 5th MEB
"TARPAPER is made with PETROLIUM!"

He was a treehugger, and owned a large plot of trust fund financed forest near his tarpaper shanty.

Choices.

54 posted on 11/30/2020 6:28:41 PM PST by Jeepers43
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To: piasa

Ping.


55 posted on 12/05/2020 10:11:46 PM PST by Fedora
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