“Dems Change Mind On Border Wall After Realizing It Will Keep People From Leaving When We Switch To Socialism.”--Babylon Bee
Toured Google with Ned. Astonishing. It's not just a job and it's a lot more than a lifestyle.
Yesterday was my last PT appointment. I'm not sure much has been achieved.
Ned and Mom watched "90 Day Fiancé" last night.
Caroline arrives tonight.
In Fairfax and Loudoun County, Virginia, the median household income is over $110,000, but in Lincoln County, Montana, the median household income is only slightly above $35,000. So, should the minimum wage be the same for both communities?
Abstract. Elite. Moral. Judgmental. Powerful. Is Google the new Jesuit community?
Circling slowly, but circling:
“I give [Douglas] the most solemn pledge that I will,to the very last, tand by the law in this State that forbids the marriage of white folks with negroes.”--Lincoln.
Hmmmm
Taxes and Costs and Investments
This is from the economics writer Andrew Tobias on the impact of taxes and transaction costs in investing:
Warren Buffett has been compounding the value of his shares at around 20% since 1965. Each $1,000 you invested in 1965 would have grown to nearly $20 million today — if you had simply bought and held. But say you had sold the shares at the end of each year and then bought them back. (No one would have done that; but lots of people do trade in and out of stocks all the time, chasing their dreams.) And let’s say federal and state taxes would have eaten 25% of each year’s gain . . . so that instead of compounding at 20%, your money was compounding at 15%. Each $1,000 would thus have grown not to $20 million but to $2 million — a tenth as much.
Granted, the $20 million would be subject to tax if you ever did sell it (unlike the $2 million, on which taxes had been paid along the way).
And granted, taxes are not levied on trades within a retirement account, if that’s where you hold your stocks.
Still it’s a point worth making. And even in an IRA, while there’s no headwind from taxes, there’s still a breeze blowing against you in the form of the brokerage commissions you explicitly incur and the “spreads” not shown on your confirm but no less real. (If you go to buy a stock that’s $3.68 bid, $3.70 asked, the “spread” is 2 cents, or, in this example, about half of one percent. Trade in and out once a month and it mounts up.)
Toured Google with Ned. Astonishing. It's not just a job and it's a lot more than a lifestyle.
Yesterday was my last PT appointment. I'm not sure much has been achieved.
Ned and Mom watched "90 Day Fiancé" last night.
Caroline arrives tonight.
In Fairfax and Loudoun County, Virginia, the median household income is over $110,000, but in Lincoln County, Montana, the median household income is only slightly above $35,000. So, should the minimum wage be the same for both communities?
Abstract. Elite. Moral. Judgmental. Powerful. Is Google the new Jesuit community?
Circling slowly, but circling:
Wealthy financier and accused child sex abuser Jeffrey Epstein had a revolving cast of characters take turns visiting him in a Palm Beach County, Florida, jail while serving a 13-month criminal sentence in 2008 and 2009, according to visitor logs reviewed by CNBC on Friday.
Those visitors included Epstein’s appeals attorney Alan Dershowitz, who showed up on New Year’s Day 2009, as well as Arnold Paul Prosperi, a college friend of former President Bill Clinton, documents show. Other notable visitors were two of Epstein’s alleged co-conspirators, Nadia Marcinkova and Sarah Kellen.
Combined, the two made over 70 visits to the Palm Beach County Jail, records show.
Kellen, according to a court document obtained by The Daily Beast, was one of Epstein’s closest aides in the 2000s. She now goes by the name Sarah Kensington and is married to NASCAR driver Brian Vickers. Marcinkova is now a certified FAA pilot and a flight instructor.
Adam Smith died on this day in 1790.
In his new book ("The Land of Flickering Lights: Restoring America in an Age of Broken Politics"), he (Bennet) quotes Thucydides on the civil war in the city of Corcyra: "With public life confused to the critical point, human nature, always ready to act unjustly even in violation of laws, overthrew the laws themselves and gladly showed itself powerless over passion but stronger than justice and hostile to any kind of superiority." Such hostility is the essence of populism.--Will, on Bennet
Netflix has recorded its first decline in viewers in a decade.
“I have never had the least apprehension that I or my friends would marry negroes if there was no law to keep them from it."--LincolnAdam Smith died on this day in 1790.
In his new book ("The Land of Flickering Lights: Restoring America in an Age of Broken Politics"), he (Bennet) quotes Thucydides on the civil war in the city of Corcyra: "With public life confused to the critical point, human nature, always ready to act unjustly even in violation of laws, overthrew the laws themselves and gladly showed itself powerless over passion but stronger than justice and hostile to any kind of superiority." Such hostility is the essence of populism.--Will, on Bennet
Netflix has recorded its first decline in viewers in a decade.
“I give [Douglas] the most solemn pledge that I will,to the very last, tand by the law in this State that forbids the marriage of white folks with negroes.”--Lincoln.
Hmmmm
Watching adult films accounts for over 4 per cent of all carbon dioxide emissions associated with digital technologies, says a new study.“Climate crisis: The unsustainable use of online video”, a report published by French think-tank The Shift Project, highlights that pornography makes up 27 per cent of all videos viewed online.Furthermore, online videos – one of the most common forms of online entertainment – are said to generate 60 per cent of world data traffic, based on 2018 estimates. In other words, it means that they account for 300 million tonnes of CO2 emissions per year (resulting from energy consumption), with porn ‘emitting’ just under 100 million tonnes – nearly as much as Belgium and Kuwait.
India will make a new bid to launch a landmark mission to the Moon on Monday, a week after aborting lift-off at the last minute because of a fuel leak, officials said.
On this day in 1969, shortly after leaving a party on Chappaquiddick Island, Senator Edward “Ted” Kennedy of Massachusetts drove an Oldsmobile off a wooden bridge into a tide-swept pond. Kennedy escaped the submerged car, but his passenger, 28-year-old Mary Jo Kopechne, did not. The senator did not report the fatal car accident for 10 hours. He did, however, immediately inform his attorneys.India will make a new bid to launch a landmark mission to the Moon on Monday, a week after aborting lift-off at the last minute because of a fuel leak, officials said.
Taxes and Costs and Investments
This is from the economics writer Andrew Tobias on the impact of taxes and transaction costs in investing:
Warren Buffett has been compounding the value of his shares at around 20% since 1965. Each $1,000 you invested in 1965 would have grown to nearly $20 million today — if you had simply bought and held. But say you had sold the shares at the end of each year and then bought them back. (No one would have done that; but lots of people do trade in and out of stocks all the time, chasing their dreams.) And let’s say federal and state taxes would have eaten 25% of each year’s gain . . . so that instead of compounding at 20%, your money was compounding at 15%. Each $1,000 would thus have grown not to $20 million but to $2 million — a tenth as much.
Granted, the $20 million would be subject to tax if you ever did sell it (unlike the $2 million, on which taxes had been paid along the way).
And granted, taxes are not levied on trades within a retirement account, if that’s where you hold your stocks.
Still it’s a point worth making. And even in an IRA, while there’s no headwind from taxes, there’s still a breeze blowing against you in the form of the brokerage commissions you explicitly incur and the “spreads” not shown on your confirm but no less real. (If you go to buy a stock that’s $3.68 bid, $3.70 asked, the “spread” is 2 cents, or, in this example, about half of one percent. Trade in and out once a month and it mounts up.)
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