atans1

Power of compounding

In Financial competency, Financial planning on 16/11/2019 at 5:13 am

Actually in this case the power of reverse compounding.

Pocahontas (aka Ms Warren, a descendant of Marx, who has a bit of Cherokee blood and who got into trouble claiming to be an Injun) has proposed what her campaign calls an “ultra-millionaire” tax of 2% on assets above $50m, plus a 1% “billionaire surtax” on assets above $1bn.

Doesn’t sound much does it? FT has done some calculations. If US billionaires paid her weath tax since 1982, they’d be a lot poorer.

  1. 1% or 2% ….. which is what most retail Sinkies have been paying in fees for investment & insurance savings products for the past 60 years (and mostly still do so today).

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