[Poll] How much do you care about the future after your death?

A government researcher banker approaches you and offers you a financial deal:

For today only, you can borrow as much money as you like, for whatever purpose you like. The annual interest rate will be 5%.

But there's something special about this loan: you won't be paying back the loan. In fact, you're not allowed to pay back a cent of it personally. Instead, you're borrowing money from the future after your death.

The loan collectors will only come knocking after you've died. At that time, the burden of your loan will fall onto and be evenly split among (in order of what you have):

1. Your children/descendants
2. Your extended family and their descendants
3. Your friends and their descendants
4. Your acquaintances and their descendants
5. People whom you've met/encountered in your life
6. The rest of society

If you have no children/descendants, then your debt burden will go to your extended family. If you have no living extended family, then it will go to your friends, etc.

Will you take this deal? If yes, how much would you borrow?
What would happen if everyone in your country could make this kind of loan?

Note 1: It's impossible to default on this loan. Even if your descendants are unable to pay the full sum and are personally bankrupt for the rest of their lives, then the remainder will pass down to their own descendants in the same recursive fashion.

Note 2: Let's assume you live in a hypothetical country similar to the US where an "estate tax" is permanently engrained into the law. The estate tax is 40% if you wish you pass down money/property to anybody after you die.

 

take all the money. buy immortality. PROBLEM AVOIDED

 

Just put half into a trust and have it gain ~8% per year until your death, then the debt can be paid for by the trust.

With the other half you can invest it until you see fit and just live off the dividends and have it donated at your death.

 

I'll borrow the maximum possible, and give it all to the cat gods. It's for the greater good, I'm sure society will understand...

 

Go big and invest for a high turn over.

 

Huh, I didn't really think about that.

it breaks the thought experiment. >__<

I'm going to raise the interest rate on the loan to 5%, I think. That way, combined with an estate tax, I'm not sure if you'd be able to pay it off completely by giving a large enough inheritance for your descendants (not sure if I did the math right though).

 

I shall buy every animal in existence. Then kill it. Except for cats.

 

Easy peasy, I'm youngest so I'll live the longest among my family, and my friends and myself agree we don't want kids anyway soooooo no downsides as there's no one to charge for it. And what acquaintances would I have if I didn't have a job?

 

Use the money to buy the government then kill the banker . no debt and you become king of the country

 

1) Take as much as possible.
2) Fund immortality research
3) Fail
4) Before dying blow up world
5) Now there isn't anyone that has to pay the price of my failure

 

Basically this.

 

Pour everything in Research about that mind-controling zombie fungi and starts the zombie apocalypse controlled by me as the fungi necromantic overlord

 

For anything over 100K with interest rate of +9% is illegal. How does 10% will even work?

Except you exclude the laws, just to allow it happen.

https://en.wikipedia.org/wiki/Interest_rate_ceiling

 

Those who chose to borrow just because they're not the one who'd have to pay it back are assholes.

 

borrow as much as i can then buy the bank ownership to annul the loan

 

To be honest, I don't really understand.

I just wanted a scenario where it wasn't easy for the borrower to invest everything and gain it all back so future descendants didn't have to take the loan burden.

(originally I wanted to model something like the environment issue... like pitting people's values on short-term economic gains versus harm to future descendants in a time after they're long gone).

 

Take as much as possible... Invest it or so business.. Gain as much as possible...

 

Well, given sufficient money, I would be able to induce the government to put strict rules on debt collection and estate taxation of the rich, resulting in me winning.

 

I'd give u a billion $ 2 be born in the year 2100, even if I was born in the lowest of castes.
Just as any super wealthy dude born in the year 1900 would give up everything 2 be born in the year 2000.

These kids are gona be born when robots n AI n shit will fulfill their every desire, everything will be almost free cus of technological advancements, so on so not like they gonna suffer much. They will socialize in virtual worlds, get free basic income probs cus normal jobs won't exist anymore due 2 automation.

In reality, living today is already super easy thanks 2 technology, unlike how all the loser emos cry and whinge 2 make it feel like it's difficult just cus they 2 lazy 2 get off their asses.