Koch Brothers Increased Wealth by $9 Billion Last Year As They Fund Laws to Make Working Class Poore

[southwind]

Throw me your spreadsheet on how an $8 hour worker can accumulate $1 mill at 65.
(4% passbook savings? when?)

But you did not address the 'non working' society we have.
What do we do with them?
Euthanasia?

First, tell me who's fault it is that this worker is making $8 hour ?

 

[xUT]

First, tell me who's fault it is that this worker is making $8 hour ?

Look around. There are thousands of skilled, educated and people with degree's that can not get a job in their field and take lesser jobs to make a living. We have many jobs in the computer industry that hire H1B visas over home grown talent. Why is that?

Hopefully, the jobs outlook will continue to improve, but we are a long way off from that.

 

[xUT]

Do the math yourself, I'm watching a movie. Since you are the disbeliever. Truth is if my calculations are incorrect and it only turns out to be $500,000 still proves the point.

Salary (HR) Hours Annually Gross Annual Net Annual Net Monthly Savings 10% Term Years Rate
$8.00 2020 $16,160.00 $13,537.16 $1,128.10 $112.81 45 2%

Balance: $98,836.2

At $1,128.10 Net Monthly, can't see how someone could save 10%.

 

[SparrowHawk]

Salary (HR) Hours Annually Gross Annual Net Annual Net Monthly Savings 10% Term Years Rate
$8.00 2020 $16,160.00 $13,537.16 $1,128.10 $112.81 45 2%

Balance: $98,836.2

At $1,128.10 Net Monthly, can't see how someone could save 10%.

That's because for one the net contribution is what is deducted from your check currently PLUS an equal amount from the employer which is the way SS works now. So the worker would never see a difference in take home.

What you fail to grasp is with 40 years of compound interest you turn the roughly 100k into something between 600k and the 980L I saw published. Compound Interest calculator

The employer/employee contribution is just about $50.00 per week, which equals 2080 weeks of a net of $104,000.00 If we compound that at 4% we get a number of around $300,000.00 or roughly three times the amount of the value of the current SS account since the Government doesn't pay interest.

In order to get a to 7 figures you need a 9% return which means stocks and such. It also assumes you never get a raise. So let's go back to the risk/reward factor. Even if the min wage earner were to have his savings take a 35% "Hit" due to recession they would still have $195,000 in their account which is still more than under the current system.

This is the Legacy of FDR and his necktie Salesman Vice President. FDR screwed several generations by making them dependent not upon themselves but upon a Federal Government that is both fiscally and morally bankrupt. The Federal Government makes the whore of Babylon look Christ like.

 

[delldude]

First, tell me who's fault it is that this worker is making $8 hour ?

SEIU I bet.....

 

[xUT]

That's because for one the net contribution is what is deducted from your check currently PLUS an equal amount from the employer which is the way SS works now. So the worker would never see a difference in take home.

What you fail to grasp is with 40 years of compound interest you turn the roughly 100k into something between 600k and the 980L I saw published. Compound Interest calculator

The employer/employee contribution is just about $50.00 per week, which equals 2080 weeks of a net of $104,000.00 If we compound that at 4% we get a number of around $300,000.00 or roughly three times the amount of the value of the current SS account since the Government doesn't pay interest.

In order to get a to 7 figures you need a 9% return which means stocks and such. It also assumes you never get a raise. So let's go back to the risk/reward factor. Even if the min wage earner were to have his savings take a 35% "Hit" due to recession they would still have $195,000 in their account which is still more than under the current system.

This is the Legacy of FDR and his necktie Salesman Vice President. FDR screwed several generations by making them dependent not upon themselves but upon a Federal Government that is both fiscally and morally bankrupt. The Federal Government makes the whore of Babylon look Christ like.

Apples and oranges. Is it a 401XX/IRA replacement plan, a pass book savings account (as you stated), or a Social Security replacement plan?

All of these options carry a different scenario, investment choices, etc...
Is this some Madhoff investment scheme that you are selling here? 😀 😀 😀

Pick One.

JMHO, historical long term investment returns will never be seen again. 9%
BBBBBBaaaaaahhhhhhhhhh!!!!!!!!!!!! 😛 😛 😛

 

[P. REZ]

Apples and oranges. Is it a 401XX/IRA replacement plan, a pass book savings account (as you stated), or a Social Security replacement plan?

All of these options carry a different scenario, investment choices, etc...
Is this some Madhoff investment scheme that you are selling here? 😀 😀 😀

Pick One.

JMHO, historical long term investment returns will never be seen again. 9%
BBBBBBaaaaaahhhhhhhhhh!!!!!!!!!!!! 😛 😛 😛

Considering CEO's stock options are more lucrative when their companies stock does well I would have to disagree with that assessment.

 

[southwind]

[/color]


Considering CEO's stock options are more lucrative when their companies stock does well I would have to disagree with that assessment.

Got the remedy for all your woes....................Buy some stock or become a CEO ! What's stopping you, besides you ?

 

[P. REZ]

Got the remedy for all your woes....................Buy some stock or become a CEO ! What's stopping you, besides you ?

Well nothing is stopping me. I have 6 figure equity in my house, and that is in Az. and 6 figures in my 401k. I fight greedy corporations and feel they should all be Unionized but I invest, invest, invest. I guess you think were dummies because we need a Union. Hate to disappoint you but I'm educated, maybe you should get educated and while your at it a dose of reality.

 

[dapoes]

Well nothing is stopping me. I have 6 figure equity in my house, and that is in Az. and 6 figures in my 401k. I fight greedy corporations and feel they should all be Unionized but I invest, invest, invest. I guess you think were dummies because we need a Union. Hate to disappoint you but I'm educated, maybe you should get educated and while your at it a dose of reality.

So when are you going to give up your fair share to the gov? You make more then others so why are you being so greedy?

And if you are so smart (and thats a pretty big if) then you would know equity is paper value only. Until that actually get transfered into $$$.....it has zero value. So I guess what "we think"...is about right then.

 

[southwind]

Well nothing is stopping me. I have 6 figure equity in my house, and that is in Az. and 6 figures in my 401k. I fight greedy corporations and feel they should all be Unionized but I invest, invest, invest. I guess you think were dummies because we need a Union. Hate to disappoint you but I'm educated, maybe you should get educated and while your at it a dose of reality.

$ 1795.00 does not count as " 6 figures in equity" !

 

[xUT]

$ 1795.00 does not count as " 6 figures in equity" !

Very well thought out and eloquent retort.
I am sure your standing here will support your insightful analysis.

B)

 

[tech2101]

Very well thought out and eloquent retort.
I am sure your standing here will support your insightful analysis.

B)

This post is hidden because you have chosen to ignore posts by southwind

The above bot generated post is as coherent and thoughtful as it gets from that one and one other savant regular...

 

[dapoes]

The above bot generated post is as coherent and thoughtful as it gets from that one and one other savant regular...

So says rainman himself

 

[Dog Wonder]

The above bot generated post is as coherent and thoughtful as it gets from that one and one other savant regular...

This post is hidden because you have chosen to ignore posts by dapoes.

You mean this one.

Cue the ignored one claiming he isn't ignored.