PRINCE WILLIAM BAGS A $1.1B INHERITANCE FROM QUEEN
QUEEN ELIZABETH’s death has once again raised the specter of the obscene wealth possessed by the British royal family.
According to reports, Prince William — the new Prince of Wales and heir to the throne — inherited the Duchy of Cornwall estate worth a mindboggling $1.1 BILLION!
His dad, the new King Charles, got another $500 million in jewels and whatnot from his late mom.
And last year, the British taxpayers shelled out a whopping $118 million for the Sovereign Grant, which is allocated every year and pays the royals’ salaries and expenses for representing the nation.
To most Americans, this wealth and yearly allowance seems outrageous.
Indeed, it’s one of the reasons the American colonies split from Britain in 1776, proclaiming “all men are created equal” and officially banning titles and an aristocracy in the U.S. Constitution.
On the other hand, royalists point out the ruling Windsor dynasty owns a pittance compared to the fortunes of other monarchs.
Back in the Middle Ages, the king owned all the land in the country and handed out large parcels, called fiefdoms, to chief lieutenants in return for taxes, agricultural products and military service. The noble didn’t own the fief, but just held it at the pleasure of the king.
Over the years, the wealth of the British royal family has been whittled down from owning the entire country to a couple of billions worth of large estates, priceless gems and other highend stuff. Their supporters argue the incredibly wealthy royals are literally worth their weight in gold and earn their yearly salaries by representing the country at official events.
Whether the royals should continue to be paid tax money — or even to own such fat chunks of land — is something to be decided in Britain, where there are still many poor commoners and people complain their taxes are too high!
For all our problems in the U.S., that’s one we don’t have — paying a bunch of fat-cat aristocrats millions of tax dollars for attending banquets, parades and supermarket openings. We should be grateful.