Word: householders
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Dates: during 1990-1999
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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...
...chemistry of the brain. Ultimately, it is the environment that determines how these genes will express themselves. In another setting, for example, it is easy to imagine that Hamer might have become a high school dropout rather than a scientist. For while he grew up in an affluent household in Montclair, N.J., he was hardly a model child. "Today," he chuckles, "I probably would have been diagnosed with attention-deficit disorder and put on Ritalin." In his senior year in high school, though, Hamer discovered organic chemistry and went from being an unruly adolescent to a first-rate student. What...
...what does the adult Barnaby do for a living? Why, he goes into people's houses as an 11-year employee of Rent-a-Back, a Baltimore firm that performs, for a fee, household chores that are impossible for the elderly or infirm. And sure enough, one of his clients eventually accuses him of stealing $2,960 in cash stashed in a flour...