The amount of people living subsidized by their parents is astounding

[Anonymous]

Anonymous wrote:

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Anonymous wrote:It's a very normal and human thing to use your resources to take care of your own offspring

Not adults! The “normal” human behavior is for adults to take care of their aging parents. I know 40-something’s who get allowances from their 70 year old parents. 😝

Most of these people are stunted professionally because they relied financially on their parents.

So, OP, I support my elderly parents, should they have to pay income tax in the money I give then each month?

Should the elderly childless who work as Wal Mart greeters to keep themselves in cat food half to pay taxes on the income Wal Mart gives them each month?

NP. Is Walmart gifting them the money, or is it their wages?

What is the difference in your mind?

One is wages from a business to an employee in exchange for working for them; the other is a gift between family members, as a gift.

Why is one type subject to taxation and one type not subject to taxation?

Why not appeal to your congressman for all gifts, monetary and otherwise, to be treated as taxable income? Have you tried that yet?

Yes.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

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Anonymous wrote:

Anonymous wrote:

Anonymous wrote:It's a very normal and human thing to use your resources to take care of your own offspring

Not adults! The “normal” human behavior is for adults to take care of their aging parents. I know 40-something’s who get allowances from their 70 year old parents. 😝

Most of these people are stunted professionally because they relied financially on their parents.

So, OP, I support my elderly parents, should they have to pay income tax in the money I give then each month?

Should the elderly childless who work as Wal Mart greeters to keep themselves in cat food half to pay taxes on the income Wal Mart gives them each month?

NP. Is Walmart gifting them the money, or is it their wages?

What is the difference in your mind?

One is wages from a business to an employee in exchange for working for them; the other is a gift between family members, as a gift.

Why is one type subject to taxation and one type not subject to taxation?

Why not appeal to your congressman for all gifts, monetary and otherwise, to be treated as taxable income? Have you tried that yet?

Yes.

In every single election, I vote for the candidate most likely to raise taxes on the rich.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

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Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:It's a very normal and human thing to use your resources to take care of your own offspring

Not adults! The “normal” human behavior is for adults to take care of their aging parents. I know 40-something’s who get allowances from their 70 year old parents. 😝

Most of these people are stunted professionally because they relied financially on their parents.

So, OP, I support my elderly parents, should they have to pay income tax in the money I give then each month?

Should the elderly childless who work as Wal Mart greeters to keep themselves in cat food half to pay taxes on the income Wal Mart gives them each month?

NP. Is Walmart gifting them the money, or is it their wages?

What is the difference in your mind?

One is wages from a business to an employee in exchange for working for them; the other is a gift between family members, as a gift.

Why is one type subject to taxation and one type not subject to taxation?

Why not appeal to your congressman for all gifts, monetary and otherwise, to be treated as taxable income? Have you tried that yet?

Yes.

So what was their response?

[Anonymous]

Good for those lucky kids. You should use every opportunity in life. My friend received $500k yes $500k as a down payment when they bought their $800k home. His dad actually wanted to buy the house cash for them, but my friend said he wanted to be independent for a bit lol. Now they get $2000 monthly stipend from his parents.

When they say there are 2 Americas the haves and have nots it's true

I come from a poor family, but I absolutely support wealthy parents who subsidize their kids. It's their money. When you have children they become your priority not society at large. So hook your kids up first and if you have crumbs left you can help the rest.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:It's a very normal and human thing to use your resources to take care of your own offspring

Not adults! The “normal” human behavior is for adults to take care of their aging parents. I know 40-something’s who get allowances from their 70 year old parents. 😝

Most of these people are stunted professionally because they relied financially on their parents.

So, OP, I support my elderly parents, should they have to pay income tax in the money I give then each month?

Should the elderly childless who work as Wal Mart greeters to keep themselves in cat food half to pay taxes on the income Wal Mart gives them each month?

NP. Is Walmart gifting them the money, or is it their wages?

What is the difference in your mind?

One is wages from a business to an employee in exchange for working for them; the other is a gift between family members, as a gift.

Why is one type subject to taxation and one type not subject to taxation?

Why not appeal to your congressman for all gifts, monetary and otherwise, to be treated as taxable income? Have you tried that yet?

Yes.

So what was their response?

A figurative head pat and a thinly veiled “eat shit and die, serf”.

[Anonymous]

Must be nice

[Anonymous]

Anonymous wrote:

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Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:It's a very normal and human thing to use your resources to take care of your own offspring

Not adults! The “normal” human behavior is for adults to take care of their aging parents. I know 40-something’s who get allowances from their 70 year old parents. 😝

Most of these people are stunted professionally because they relied financially on their parents.

So, OP, I support my elderly parents, should they have to pay income tax in the money I give then each month?

Should the elderly childless who work as Wal Mart greeters to keep themselves in cat food half to pay taxes on the income Wal Mart gives them each month?

NP. Is Walmart gifting them the money, or is it their wages?

What is the difference in your mind?

One is wages from a business to an employee in exchange for working for them; the other is a gift between family members, as a gift.

Why is one type subject to taxation and one type not subject to taxation?

Why not appeal to your congressman for all gifts, monetary and otherwise, to be treated as taxable income? Have you tried that yet?

Yes.

So what was their response?

A figurative head pat and a thinly veiled “eat shit and die, serf”.

So you didn’t actually contact anyone.

[Anonymous]

I fall into the category of people who received money from family. I have received about 60k from a trust I got access to at 25 (I’m 28). It’s my grandfathers money. He also footed the bill for my private education. Wife and I make about 250k combined. The crazy high costs of the city make it feel inconsequential. We save aggressively but private school and home ownership still feel far off. We are expecting kid number 1 in October.

[Anonymous]

Anonymous wrote:I fall into the category of people who received money from family. I have received about 60k from a trust I got access to at 25 (I’m 28). It’s my grandfathers money. He also footed the bill for my private education. Wife and I make about 250k combined. The crazy high costs of the city make it feel inconsequential. We save aggressively but private school and home ownership still feel far off. We are expecting kid number 1 in October.

Sounds like you will use up all the money and your own kids will be SOL.

About right?

I just don’t get the point of money that barely lasts two generations and you aren’t motivated to bust your ass to build a nest egg for your kids or grandkids.

[Anonymous]

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Anonymous wrote:I happen to know who in my circle is supported financially by their parents. They are not shy about sharing this information. But once they share it, I am now aware that everything they do is only possible because of their parent’s hard work & business acumen — not their own.

It does change my perception of them, I can’t lie. It’s an American thing. We value self made people. Whether you like it or not, those people will always be respected more.

A) You only know about the ones that tell you

B) The wealth isn’t necessarily from hard work and acumen

C) America is as built on nepotism and inherited wealth as most other countries, don’t delude yourself

I actually disagree. I think America was built on the backs of laborers and working class.

Yet you have a problem with those people succeeding, acquiring some amount of wealth, and passing any money to their descendants.

I don’t have a problem with it. But let’s not act like those who receive monthly allowances or inheritances “achieved” something. They did not. The only irksome thing is individuals who like to convey they are successful, but they haven’t done anything.

[Anonymous]

But they think they "made" its all by themselves! So cringe.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:It's a very normal and human thing to use your resources to take care of your own offspring

Not adults! The “normal” human behavior is for adults to take care of their aging parents. I know 40-something’s who get allowances from their 70 year old parents. 😝

Most of these people are stunted professionally because they relied financially on their parents.

So, OP, I support my elderly parents, should they have to pay income tax in the money I give then each month?

Should the elderly childless who work as Wal Mart greeters to keep themselves in cat food half to pay taxes on the income Wal Mart gives them each month?

NP. Is Walmart gifting them the money, or is it their wages?

What is the difference in your mind?

One is wages from a business to an employee in exchange for working for them; the other is a gift between family members, as a gift.

Why is one type subject to taxation and one type not subject to taxation?

Why not appeal to your congressman for all gifts, monetary and otherwise, to be treated as taxable income? Have you tried that yet?

Yes.

So what was their response?

A figurative head pat and a thinly veiled “eat shit and die, serf”.

So you didn’t actually contact anyone.

I did. Can’t you read?

[Anonymous]

Anonymous wrote:I fall into the category of people who received money from family. I have received about 60k from a trust I got access to at 25 (I’m 28). It’s my grandfathers money. He also footed the bill for my private education. Wife and I make about 250k combined. The crazy high costs of the city make it feel inconsequential. We save aggressively but private school and home ownership still feel far off. We are expecting kid number 1 in October.

Think how much more expensive the city feels for folks who didn’t get 60K tax free plus have to contend with their own student loans…

[Anonymous]

Anonymous wrote:Good for those lucky kids. You should use every opportunity in life. My friend received $500k yes $500k as a down payment when they bought their $800k home. His dad actually wanted to buy the house cash for them, but my friend said he wanted to be independent for a bit lol. Now they get $2000 monthly stipend from his parents.

When they say there are 2 Americas the haves and have nots it's true

I come from a poor family, but I absolutely support wealthy parents who subsidize their kids. It's their money. When you have children they become your priority not society at large. So hook your kids up first and if you have crumbs left you can help the rest.

+1. Same, grew up poor and don’t begrudge at all people with money helping their kids out now. Better than giving it to them when they die.

I don’t get people on here who begrudge that or resent that. Play the cards you are dealt in life, improve your circumstances, and then maybe you can pass some money down to your kids.

[Anonymous]

Anonymous wrote:

Anonymous wrote:Good for those lucky kids. You should use every opportunity in life. My friend received $500k yes $500k as a down payment when they bought their $800k home. His dad actually wanted to buy the house cash for them, but my friend said he wanted to be independent for a bit lol. Now they get $2000 monthly stipend from his parents.

When they say there are 2 Americas the haves and have nots it's true

I come from a poor family, but I absolutely support wealthy parents who subsidize their kids. It's their money. When you have children they become your priority not society at large. So hook your kids up first and if you have crumbs left you can help the rest.

+1. Same, grew up poor and don’t begrudge at all people with money helping their kids out now. Better than giving it to them when they die.

I don’t get people on here who begrudge that or resent that. Play the cards you are dealt in life, improve your circumstances, and then maybe you can pass some money down to your kids.

Generational wealth is beyond playing the cards you’re dealt. It’s playing the cards you’re dealt while being able to bully the table because you got to start with your parents’ winnings while your opponents start with only their own meager buy-in.

If you’ve ever played poker you’d understand that at some point it’s impossible for the players without the head start in chips to win unless they are literally dealt unbeatable hands. (Or unless the unfairly advantaged player is uniquely terrible at poker.)

The way our society functions is a zero sum game. Resources are finite, and it is disingenuous to pretend otherwise. (See also: monopolies)