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Reply to "Generational Wealth"
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[quote=Anonymous]Extreme Generational wealth rarely lasts longer than 3 generations as some of the examples given here prove. Modern wealthy have it drilled into them to never touch the principle, only the interest in order to preserve the wealth as long as possible. It has had an effect on our economic system. I think it was the son of Vanderbilt? who put all of his money into bonds in order to avoid any Fed taxes at the time. So one of the wealthiest men in America paid no taxes. This led to changes in the tax code to affect bonds.[/quote]
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