Ron from a Different World was out here fukking up Millions

Wear My Dawg's Hat

Wear My Dawg's Hat

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As I recall, he is from the Morristown, NJ collection of pre-1990s upwardly-mobile Black folk.

Most of those folks either died off or moved back down South. Morristown these days is heavily Hispanic.
 
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Wiseborn

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R.E.N. Spells Ren said:
Name the ways Ron coulda got around the estate tax. :comeon:
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The number one way is he could've borrowed against the business using interest rate arbritage, Could've been an S-corp, could be registered in a country that doesn't have the death tax, But even though law firms accountants and lobbyists make the bulk of their money helping people avoid taxes yeah there's no way people can avoid the taxman.

They're trying to install a billionaire tax because Bezos and Zuckerberg essentially pay no taxes.
 
R.E.N. Spells Ren

R.E.N. Spells Ren

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Wiseborn said:
The number one way is he could've borrowed against the business using interest rate arbritage, Could've been an S-corp, could be registered in a country that doesn't have the death tax, But even though law firms accountants and lobbyists make the bulk of their money helping people avoid taxes yeah there's no way people can avoid the taxman.

They're trying to install a billionaire tax because Bezos and Zuckerberg essentially pay no taxes.
Click to expand...
That would not have avoided the estate tax. His pops is died unexpectedly, he couldn’t move money around to legally avoid paying the hefty estate tax after the death.


I never said tax avoidance isn’t real and common amongst the wealthy; I’m saying there was nothing Ron could have done after his pops died to avoid paying the estate tax on suddenly inherited wealth.
 
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Wiseborn

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R.E.N. Spells Ren said:
That would not have avoided the estate tax. His pops is died unexpectedly, he couldn’t move money around to legally avoid paying the hefty estate tax after the death.


I never said tax avoidance isn’t real and common amongst the wealthy; I’m saying there was nothing Ron could have done after his pops died to avoid paying the estate tax on suddenly inherited wealth.
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I was going with the assumption that as a finance guy he was set up to avoid lawsuits and estate taxes, It's possible that he didn't but it wouldnt make sense.
 
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I don't know if it was mentioned But there was a book called Black Fortunes about Black rich nikkas who had money around the beginning of the 20th century which was considered the nadir of race relations. In every case by the 3rd generation that money was completely dissipated. The Black woman who owned half of LA didn't have decendents the nikka who's relative actually was a founding member of the Boule' had to sue to get some of the money that his relative left him because the dude gave it all to the Catholic church (despite being a Protestant)

The point in all cases except Robert Reed Church none of the Black people seemed to give their kids the game to keep the wealth. In most cases the rich folks where either favored sons and daughters of wenches and in the case of the one Black chick who was outed as a side piece (and Black because she was passing) She had to dip to europe with the white dude she was tricking off the money that the married white simp was tricking off on her.


Other than the Boule nikka's pop's all of them did give back to the Black community though but all basically failed to keep bread circulating in the Family like the Rockerfellers and Kennedy's.
 
Black Magisterialness

Black Magisterialness

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Real talk if his dad died at 46, even if Daryll was 22, that's not a lot of time to learn how to manage millions of dollars. Let alone a BUSINESS worth millions of dollars.

Everyone ain't born with the entrepreneurial spirit.
 
Mowgli

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Dam. How do we know his dad didn't school him.. maybe he had his own ideas and disregarded his father's advice
 
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