As read by George Hahn. https://www.profgalloway.com/rich-kids/ Learn more about your ad choices. Visit podcastchoices.com/adchoices
What insights does Katie Drummond share about Wired?
There is no tax that's not taxing, but estate taxes come close. Growing up I was the kid being raised by a single mom who didn't have money. I was reminded of this when my friends bolted from our newly integrated public school, Emerson, for a private school, Windward.
I was left behind, wearing fake top-siders, real Sperrys cost $32, and being devastated when I lost the Varnays my mom had given me for Christmas. But this isn't a sob story. We were never hungry or afraid. Und ich bin der Junge, der immer zu spät war, auf seinem Fraternitäts-Bill, die Ember des Wunschens und des Wunschens, die mir gut geholfen haben.
Außerdem, jetzt, dass ich ein bisschen Geld habe, genieße ich es einfach mehr als die Menschen, mit denen ich geboren bin. Je älter ich werde, desto mehr trinke ich, aber ich bin auch mehr sauber. In Fits of Sobriety erkenne ich, dass viel meiner Erfolg nicht meine Furcht ist. Ich bin nicht schuldig, aber einer meiner vielen Fähigkeiten ist die Basis-Pattern-Rekognition.
No one thing, but an amalgam of blessings. Being born in America a white heterosexual male in the 60s, having a mother irrationally passionate about my well-being, benefiting from government-funded technologies like the Internet, GPS, beginning my career in a risk-aggressive entrepreneurial culture, having access to deep pools of capital, and getting admitted to the University of California.
That affordable and accessible higher education, funded by California taxpayers, illuminated a path of upward prosperity. Key to my ability to access this path was affirmative action, specifically Pell Grants. The GOP's small-minded, ugly bill would cut Pell grants by $67 billion through 2034, reducing grants to low-income students by more than one-fifth from 2027 through 2034.
More than half of Pell students would have their aid reduced in some way. The math is simple. My kids inheriting a few million less so we can offer millions wider paths to education, jobs, wealth and more tax revenue is a no-brainer trade-off. The whole point of and reward from prosperity is to protect. As the Greek proverb says, quote,
A society grows great when old men plant trees whose shade they know they shall never sit in." My generation is full of old men who are in the business of clear-cutting. It needs to stop.
Life is so rich.
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