Battlepanda: The Dead gets richer


Always trying to figure things out with the minimum of bullshit and the maximum of belligerence.

Wednesday, January 25, 2006

The Dead gets richer

Unbelievable. So now in addition to the ability to put themselves in deep freeze when they shuffle off this mortal coil, the superich now have the ability to leave money to themselves:
According to the Wall Street Journal, 142 people have had their heads or bodies frozen, roughly 1,000 have made similar arrangements, and at least a dozen (the rest are keeping mum, according to participants) have set up "revival trusts." The idea is to accrue wealth and shield it from taxes so you can collect it if scientists figure out how to revive you and keep you alive. More than 20 states permit "dynasty trusts" that can last centuries; lawyers are amending these to let the deceased collect if he returns.

Er. All sane people would agree -- those guys are dead. Yet their money lives on in their name. Money makes money, even if just passively accumulating compound interest. With no expenditures (save the amount needed to keep the freezer going)and no inheritance to break up/pass on the fortune, it will just grow and grow as a share of society's total wealth.

By the way, what's up with those "dynasty trusts" anyhow. Even the name makes them sound like a bad idea.

Which is another way of saying I hope this trend doesn't take off, or one day society will be owned by dead people.