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The Pros And Cons Of Requiring Children To First Work Outside The Family Business


wealthymattersGenerally,the term ‘family business‘ evokes plenty of envy,fueled by images of no-account inheritors living it up,even as other meritorious souls in society don’t get a chance to take the easy road to the good life…….of concentration of wealth in the hands of the few,to the detriment of all others.

Under the circumstances,business schools,family-business consultants and the media today,feel the need to recommend that people work for at least 5 and sometimes 10+years outside the family business.In fact the education system feels the need to socialize children to seek success in fields far removed from their parents own occupation.Besides business families themselves feel it good PR today to talk of how their children won their spurs outside the family business and so are not mere inheritors.

Here are the pros of first requiring family members to work elsewhere before entering the family business : Read more of this post

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When “Wealth” Is A Dirty Word.


envyModi Harnessing Sentiment of Masses Against the Rich

NILANJAN MUKHOPADHYAY
“In the raging debate over government’s decision to withdraw notes of Rs500 and Rs1,000 from circulation, emphasis has been on listing pros and cons of move and whether temporary inconvenience caused to people will be neutralised by long-term gains. Consequently , the audacious crack that PM Narendra Modi has taken to recast the BJP’s core constituency coupled with his decisive step towards leaving an indelible stamp on the nation’s history , has not been dwelled on. As of now, there is no certainty that Modi’s gambit will be successful. There however is no doubt that politically, this step is possibly the biggest game-changer so far in the Modi regime, though it cannot be said whether the game will alter in favour of prime minister or against him. Read more of this post

Abraham Lincoln’s Advice To The Have-Nots


wealthymatters.com“Let not him who is houseless pull down the house of another; but let him labor diligently and build one for himself, thus by example assuring that his own shall be safe from violence when built.” – Abraham Lincoln

The 10 Cannots


wealthymatters,com

Often mis-attributed to Abraham Lincoln,the following ten cannots were put forth by  Rev. Boetcker. They had a profound effect on Margaret Thatcher.She is supposed to have carried a news-paper clipping of these 10 cannots in her now famous handbag.

  1. You cannot bring about prosperity by discouraging thrift.
  2. You cannot strengthen the weak by weakening the strong.
  3. You cannot help little men by tearing down big men.
  4. You cannot lift the wage earner by pulling down the wage payer.
  5. You cannot help the poor by destroying the rich.
  6. You cannot establish sound security on borrowed money.
  7. You cannot further the brotherhood of man by inciting class hatred.
  8. You cannot keep out of trouble by spending more than you earn.
  9. You cannot build character and courage by destroying men’s initiative and independence.
  10. And you cannot help men permanently by doing for them what they can and should do for themselves. Read more of this post

The History Of Inheritance Tax in India


wealthymatters,com

With rising fiscal deficit, fiscal consolidation is suddenly front page news. The government hasn’t done well in its attempts to raise revenues both tax and  non tax.The sense of alarm has brought back discredited ideas centre-stage.One of these ideas is a tax on inheritance,a favourite hobby horse of the Leftists.No matter that it was overextending ourselves on repackaged Garibi Hatao welfare measures with a proven record of ineffectiveness that brought us to the fiscal mess in the first place.Inheritance tax is being touted in the UK,US,Germany,Italy etc as a measure to claw their way out of recession.Small wonder that there is a clamour by the intellectually bankrupt for its reintroduction in India. Read more of this post

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