Personal SS Accounts Would've Made Low‑income Workers Rich
Just imagine how wealthy low income workers from 25 years ago would be now if Peter’s “large Social Security personal accounts” plan had been in place. 10% of their income, taken out of their/their employer’s FICA tax, invested in a target date index fund. RIP
Metro Turned Into Subsidy and Make‑work Scheme
Good thread. The Metro is now something that it was never meant to be: a general subsidy for a relative few, and in reality a make work program for unionized working class DC residents.
401(k) Catch‑Up Limits
A really useful 401(k) contribution chart from @fidelity. Note that if you are a catch up contributor, you may be required to have those contributions be Roth deferrals. Your regular deferrals can still be pre-tax. Also keep in mind we...
Amazon Smile Excludes Conservative Charities After SPLC Vetting
Remember @amazon Smile, where you could direct some of your purchase dollars to your favorite charity? It used the @splcenter to vet charities, which of course means innocent conservative 501(c)(3) groups were excluded. They refused to fix it. https://t.co/uAj7UZoqPn
College Loans Under $500/Month Worth Earnings Boost
That comes out to less than $500 per month under a standard repayment rate and term, using today’s interest rates. Is that really so unreasonable given the lifetime earnings premium the typical college grad has over the typical high school...
Borrowing Against Assets Is Not Income, It's Debt
Borrowing against your own assets isn’t income. It’s the opposite of income since you have to pay it back with interest. Don’t believe me? Quit your job and live off a home equity loan. See how long that works for...
Permanent Death‑tax Relief Paves Way for Full Repeal
This is what two generations of steady work gets. Lesson for other issues. Now death tax relief is permanent thanks to the Working Families Tax Cuts. As a result, it’s much easier to kill the death tax now compared to...
Eliminate Capital Gains Tax to Boost Family Home Supply
One of the policy pieces needed to get more homes on the market (and thereby increasing the inventory of forever homes for young families) is getting rid of the capital gains tax penalty for selling a longtime family home. ...
Pentagon-Adjacent Pizzato Pizza Operating at 145% Capacity
🍕 Pizzato Pizza 2.2 mi from the Pentagon is at 145% capacity – Live pizza intel from https://t.co/Z23YL4qfIT $PPW
Shrinking Workforce Caps Real GDP Growth to 1‑2%
You don’t get to 1% labor force growth with two decades of sub-replacement level births per woman and negative net migration. You just can’t. You actually have a shrinking labor force, since it’s aging, too. That means 1%-2% real GDP...