Word: household
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...second major advantage of a fully-funded system is that it provides individuals with a greater rate of return. A brief example, drawn from work by William Beach and Gareth Davis at the Heritage Foundation, will help me to explain this point. Consider an average household consisting of two 30-year-old working parents with children. In today's dollars, that couple will pay approximately $320,000 in payroll taxes over their lifetime, and will receive $450,000 in benefits during their retirement. This represents an annual rate of return of 1.23 percent. In other words, the Social Security system...
...Social Security system redistributes income from the rich to the poor, and consequently, is a good deal for most low income families. Nothing could be farther from the truth. According to the work by Beach and Davis, low income families receive only slightly higher returns than the average income household. They earn 1.85 percent on their "investment" in the current system, which is far below the five percent return offered by an investment in a balanced portfolio of government bonds and stocks. Moreover, some minorities earn negative returns in the current system. For example, due to their low life expectancy...
...needs with the available options. In the same way a FORTUNE 500 treasurer may use derivatives to balance his or her need for pesos and yen, wealth accounts will precisely balance your demand for investment and consumption. Says Christos Cotsakos, CEO of online brokerage group E*Trade: "The wired household is the ultimate bank." Your checking deposits, for instance, might be programmed to scour an electronic Web looking for interest-bearing investments overnight while you sleep. If a Turkish real estate developer needs to use the money for a few hours while you doze (and is willing...
This year, with a $19,000 bid, the council reached an agreement with Sister Hazel (not exactly a household name) but after being outbid for this upcoming Saturday night, the council acceded to student pressure, and canned the band, opting for a series of six student performances instead...
Already this year, deals worth $236 billion have been announced, putting us on track for a seventh consecutive yearly record. Only a day after the Citigroup blockbuster, two more pairs of financial-services companies agreed to marry. Credit-card and home-equity lender Household International will pay $7.7 billion for Beneficial Corp., which is in the same businesses; and insurer Conseco Inc. agreed to pay $6.4 billion for subprime, mobile-home lender Green Tree Financial. Meanwhile, the stock price soared for just about every mutual-fund company, bank or brokerage considered likely to find a partner...