Taxes Defeat Compound-Interest Investment Benefits

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 because some is taxed away, you would have far less capital.

You probably still consider yourself middle class; your net earnings have been modest. But you’re labeled “rich” by 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.(See the Earl J. Weinreb NewsHole® comments and @BusinessNewshole tweets.)