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There is talk in my city of a referendum on public financing of a new stadium to keep our pro sports team from moving to another city. Proponents say it will be an economic boon to a now-blighted part of town. What are the ethics of this?
I think it is unethical for team owners to demand -- and cities to offer -- free or low-cost land, tax abatements and other goodies for a facility that will primarily benefit one privately owned business. The same public funds would have much broader economic benefit if spent on improved public education, parks, mass transit and small-business development in the blighted area.
I wish taxpayers all over the country would resist this blackmail and make team owners pay for their own facilities, as other businesses do.
Leaving an unequal bequest
I am an elderly widow whose three grown children live nearby. My older son and daughter and their families, although cordial, don't take much interest in me or my need for help with many tasks around the home. The third, my younger daughter, has always been very attentive, with no prompting, as have her husband and kids. I would like to show my appreciation to her family by leaving them a larger bequest than her siblings. Would this be okay?
Yes. On a practical level, your younger daughter's help may be saving you a lot of money in professional services, even though her primary motivation is her love for you. It would be reasonable to recognize this with a somewhat larger bequest.
But make sure you explain it in your will as a special expression of gratitude. You don't owe any of your children an inheritance, but be aware that showing great favoritism toward one of them might cause long-lasting sibling resentment. That's why many estate planners suggest equal distributions.
POSTED BY: Nomen (September 15, 2008 09:39 AM)
I have often seen successful children ignored by their parents who are focusing their attention on the lazy unmotivated child. Then giving money and gifts so that he or she have what the successful children have. Soon the lazy are very dependent and attentive to mom and dad because that is their gravy train. The successful siblings usually get jealous and pull away. Leaving an unequal bequest will then guarantee a family split and bitterness forever. The lazy will quickly blow their inheritance and the others will never forgive the obvious favoritism. No matter what a parent's good intentions are, children should always be given equal attention and rewards from birth onward. A special needs child may require that his or her share be placed in an administered trust but once again it should be an equal share. They are ALL your children.
POSTED BY: Daniel J Shoop (September 15, 2008 06:32 PM)
I was cheering for you in this article right up until you gave the alternatives for supporting a sports facility, eg, improved public education, parks, mass transit, etc. These are also a waste of taxpayer money for heaven's sake! Why not just let the taxpayers keep their hard-earned money and spend it the way they deem fit? The government needs to back off and quit growing with the nanny state mentality..
POSTED BY: AG (September 17, 2008 04:50 PM)
Great comment, Daniel! I say, do away with police department and medical services too. That way we can all peacefully live in the jungle.
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