Leftist politicians love to tax “the rich” but they’re really taxing savers who believe in the compound interest table and know how it works over a number of years.
Save $1,000 of earnings each year for only 25 years at 6% and you have amassed $58,100. Put away $10,000 annually and you have over $581,000, in just 25 years, If you stopped adding to the money, at that rate over the next 20 years, you would have more than triple your capital.
It’s simply the power of compound interest.
You would probably still consider yourself middle class; your net earnings have been modest. But you’re labeled “rich” by liberal politicians who want to tax you all along, to support their “poor” voting bloc.
Ironically, most of the finger-pointing politicians have far more wealth than you, whether actually earned or inherited.
No comments:
Post a Comment