Austrian heiress giving away $36.6M because the government won't tax her inheritance
Austrian heiress giving away $36.6M because the government won't tax her inheritance
Marlene Engelhorn says that when she inherited her grandmother's multimillion-dollar fortune in 2022, she "wanted to be happy about it."
"And I couldn't be," the Austrian heiress told As It Happens host Nil Köksal. "I was angry instead … because I knew it was really unfair, and there was no reason for me to get this that I could really justify."
Engelhorn has long campaigned for greater taxes on the wealthy in Austria, including an inheritance tax. But since the government won't redistribute her wealth for her, she says she's asking the people do it.
Engelhorn is giving €25 million ($36.5 million Cdn) — which she says is the vast majority of her inheritance — to a committee of Austrian residents tasked with using it to fight wealth inequality.
"I am only wealthy because I was born in a rich family. And I think in a democratic society of the 21st century, birth should not be the one thing that determines whether or not you're gonna get to lead a very good life," Engelhorn said.
It's money Engelhorn says she doesn't deserve.
"Knowing that so many people really worked their frickin' asses off and never will see a fraction of this sum … I knew that if all of my thoughts about social justice and distributional justice were worth anything, then I would have to put my thinking into action," she said.
We will spare her when we eat the rich.
Class traitors are necessary to bring about a state of communism.
This type of behaviour should be encouraged.
There is a solid counter argument here (to play devil's advocate). This is what a right wing American would say to this:
See, we don't have to tax the rich, they're so generous. It's more efficient to let them have their money and donate it directly to causes. The federal government is so bad at allocating wealth, reducing taxes so more people can be like her is the way to go.
If the person above is not wealthy themselves, the following thought to this is Well, when I'm inevitably wealthy because of how great I am, I don't want the government taxing me so I can be like her.
Then they pat themselves on the back for being so ((in an impossible future)) generous.
It's worth thinking about how to counter this argument.
People have conscious and unconscious biases.
They are prejudiced and can’t allocate money objectively. This woman is directing the use of this money even though that may not be the best use of the money.
When you look at this on a macro scale, what is the system we have for allocating resources across an entire country? Government.
Is it perfect? No, but it doesn’t change the fact the most efficient and objective means we have is government.
In short, I don’t want a system where a huge racist can accumulate vast wealth and society has the prevailing view that this racist will be altruistic through some mystical force.
It's important to think about the counterargument, I agree.
To counter your counterargument: it's not a good argument on many levels (scope, allocation, distribution mechanism, effect). The main reason is that this sort of charity doesn't improve the core problem of low(er) social mobility. The opportunity to pursue self-development/self-fulfillment should not be tied to the whimsical act of a better-off person but presented to everyone as equal as possible - through common goods and services. The impossible future is impossible due to vastly different prerequisites. The person's "greatness" will never be seen, as most likely they will never be presented with the opportunity to display it.
Class traitors are neccesary to keep capitalism working.
I like how you people that has access to internet and lives in countries that nourishes themself from the rest of the world think of yourself as part of the base of society. When the bells start ringing we are the second in line to be purged.
That just reenforces the need for betraying class.
People in those western countries have to find solidarity with the worker, whichever country they are in.
Although I don’t think having internet access and living in a capitalist country automatically makes you bourgeoise.
this nobles woman makes me communis loines moist
What does this gesture do to I pact the means of production and labor to push towards a state of communism?
She sounds like she has some good ethics. Good on her.
Not to flog a zombie’s salt on its tail, or two in the bush, but may I just say;
“This is the way”.
Good Girl Millionaire
This is the best summary I could come up with:
And I think in a democratic society of the 21st century, birth should not be the one thing that determines whether or not you're gonna get to lead a very good life," Engelhorn said.
Christoph Hofinger, Foresight's managing director, says they've sent letters to 10,000 Austrian residents over the age of 16, randomly selected from the country's population register, inviting them to join what they're calling the Guter Rat, or Good Council.
"We expect a few hundred returns or, due to the wide coverage of Guter Rat, perhaps even more than a thousand," Hofinger said in an email.
He says the Foresight Institute will whittle down the registrees to a group of 50 people who are representative of the country's demographics, including gender, age and income.
Her family also owned the pharmaceutical and medical diagnostic equipment company Boehringer Mannheim, which they sold for $11 billion US in 1997, according to the New York Times.
Until now, she's primarily spent her time doing advocacy work with groups like Millionaires for Humanity and Tax Me Now.
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This confuses the Americans
Personally, I think it's more effective to set up a business that competes on price.
Good point. Give a man a free meal, he eats for a day.
Seed fund an industrial unit churning out basic healthy meals and employ an UberEats-type workforce of homeless/disadvantaged people to distribute the meals, all under a non-profit banner, and hundreds of the poorest of society can eat for $2-5 a day.