RW (right-wing) activists on Twitter are promoting the idea of building generational wealth (“dynastic wealth”) to pass down to their descendants (“family empires”) but I see problems with this: 1) gulags and 2) political needs.
Building an income stream is great. Having a family business that your kids & grand kids can participate in is great. But the idea of hoarding great amounts of capital (as a business or just investments) has a couple problems.
Growing this movement among the most politically-aware group of RW men means that the political projects of the RW will get even less funding than before, if guys react by solely reinvesting rather than supporting political projects.
That’s a problem, because this decade is probably the decade when the power struggle will be decided between those who want to eat the rich and those who value the generative power of capitalism. We are playing for all the marbles right now, and we need all hands on deck.
The prominent Founding Fathers had generational wealth, but—at least after the war got started in 1775—they realized that the 1770s was the decade when all their wealth would be taken from them by the Crown’s men unless they spent much of it to make their secession movement successful.
I’d hate to see our guys, who would otherwise be the most likely to support RW political projects, hoard wealth that ends up getting taken by an AOC presidency. As current events evolve and things get more partisan, selfish, and desperate, she could send us to gulags, close RW companies for being RW, and strip the wealth of RW families on BS charges.
Even families who are not on a RW list face the threat of a federal government taking the wealth of all the rich due to a debt crisis. A loss of confidence in the ability and willingness of an AOC presidency to repay its $38T debt would mean fedgov couldn’t find willing lenders anymore. That means it would either have to cut its spending drastically (which would cause a revolution against it), or confiscate wealth. Clearly, fedgov would heed the voters and confiscate whatever private wealth it can find. In preparation, the government of the EU is already requiring its citizens to tell the EU where their wealth is.
As the Bible warns, wealth is fleeting. My ancestor had generational wealth until the stock market Crash of 1929. Jesus said, Earth is where “moth and rust destroy and where thieves break in and steal” (cf. 1 Ti 6:17-19, Pr 23:5, Mt 6:19). Every communist revolution teaches us this, but also Latin American political history, where the people involved weren’t all exactly “communist.” The US is becoming a Latin-American country.
The great era of building will be AFTER the Left is defeated somewhere in the Anglosphere. Personally, I think this will happen, if at all, due to red states peacefully, unilaterally seceding, since state governments are the only organizations that fedgov is not allowed to shut down when they become RW. And state governments have the right to have state guards, state police, and prisons where feds can be imprisoned.
Studies show that great wealth only lasts a couple generations in most cases. Historical events are part of the reason. Maybe you don’t feel that the next 10 years will be like the 1770s or the 1860s. But what if such a cataclysm is 15 or 25 years away? Your wealth can still be wiped away in the next Sherman’s March before it even gets passed on.
Even in good times, about 70–80 % of families who were on the 1982 Forbes 400 list had fallen off by the early 2000s, and most of the wealth had dissipated by the third generation. Also, economist Jay Zagorsky in 2014 studied 3,200 high-net-worth families: 70% of generational wealth transfers “failed” by the end of the second generation (meaning the money was gone or the family was fractured), rising to 90% by the third generation.
I know that financing political projects feels like an inherently left-wing bugman kind of thing to do. We prefer to give to our churches, who spend on pastoral salaries and facilities. This is why Mike Huckabee refused to run for president again, and why Rick Santorum was also underfunded, even though both won the primaries in all the red states, until blue-state Republican primaries foisted McCain & Romney on us. This helps to explain why Christianity has been pushed to the margins of our society for a century as the enemies of God have taken over.
I’m not proposing the Right permanently give to politics as much as the Left does. I’m proposing that we give in this decade to build a secession movement, so that, when fedgov has a debt crisis or faces a major loss of confidence due to some failure, then we can secede. In a federation of red states, we won’t have to spend anything to keep Leftists out of statewide office because many Leftist voters would move out and many RW voters would move in. CALEXIT LLC has the problem that California voters don’t believe secession is Constitutional or possible, and their new CEO (not Marcus Ruiz Evans) has been implicated in scams. The organizations to give to are the Texas Nationalist Movement and Free Louisiana.
Clearly, there should be balance. I’m not saying that saving is bad. Some of it is necessary (compare Pr 13:22 to Pr 23:4).