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Politics : View from the Center and Left -- Ignore unavailable to you. Want to Upgrade?

To: TigerPaw who wrote (8079)	12/27/2005 5:01:10 PM
From: Lane3	Read Replies (1) \| Respond to of 542786

But only after about 700 or 800 years. You can't straight line that. Turnover is accelerated now. I remember when a million dollars was a lot of money. If you leave a million dollar estate to an infant now, about all it will buy him is home entertainment for the rest of his life. Ordinary people, people I hang with, are millionaires now, at least by the old definition of the term, which was net worth. It seems the term is being adopted as meaning a million dollar annual income because a million dollar net worth is just not significant enough. The point of which is to reassert that it is only the filthy rich who have enough to sustain a family for more than a generation. I think you'd have to approach a billion dollars for an estate to have the effect you anticipate.

To: TigerPaw who wrote (8079)	12/27/2005 7:30:35 PM
From: TimF	Respond to of 542786

The tax system probably finished off a bunch of manor owners but the changes in the economy, with land and agricultural production no longer being the center of the economy the way they where back when the manors were created had at least as much to do with it. The manors were no longer as economically lucrative as they used to be. In seven or eight hundred years ago they where the source of wealth for the richest people in England. Now they might produce some wealth in some cases, and they might be owned by very wealthy people but they are not the main source of wealth. They are more of a luxury and less of an asset than they used to be. Tim