Here is one example from Planet Money that illustrates the point: “In early 2018, after the American company Whirlpool complained about foreign competition, the Trump administration implemented tariffs on washing machines imported from all over the world. It’s a 20% tariff on the first 1.2 million washing machines sold a year and a 50% tariff on every one…
Day: May 27, 2019
Investing $5,000 a year results in $1.2 million in 40 years so start now!
Wait… $5,000 x 40 $200,000. How did you get $1.2 million? The extra $1million is due to compounding.Writing for MarketWatch, Mitch Tuchman explains compound interest. “Shark Tank” star Kevin O’Leary has some simple advice for anyone who finds investing scary: Just do it. Now. “When you’re 21 years old, or 20 or 18 or 19…
Wealth inequality is bad and getting worse
Writing May 5, 2019 in The Washington Post, economist Robert J. Samuelson explains how the gap between rich and poor is getting worse in America. It’s not about income… it’s about the incredible growing wealth disparity. The $100 trillion question: What to do about wealth? and… what is the current administration doing about the problem?…