[quote=CONCHO]
Okay I understand now. So everyone who makes $250K or more in capital gains a year should vote for McCain. Everyone else should vote for Obama.
My grandfather died in 1960. He was a farmer and always told his kids, “If you are the CEO of a big corporation then always vote Republican. Otherwise, vote Democratic.”
That said, I don’t think Obama can do a lot but at least it’s a change of direction. Let’s give another team a chance to mess everything up for a while.[/quote]
I wouldn’t draw a hard line at $250k but yeah, that’s the gist of it. That’s why Winston Churchill said, “If you are not a liberal at 20, you have no heart. If you are not a conservative at 40, you have no brain.”
If you’re conservative with your money and save well, by the time you’re 50+, you should have a few millions in the bank for retirement. That will put you around $250k net cap gain income. Before you argue about who can save up a few million by the time they’re 50+, lets assume you found a decent job by the time you’re 25 and you’re frugal with your money, putting away $2k/month. With 10% average annual appreciation, you’re looking at $2.7M by the time you’re 50 and $4.6M by the time you’re 55. If you reduce the monthly saving to only $1k/month, you’re looking at $1.35M by the time you’re 50 and $2.3M by the time you’re 55.
I’m tired of the same 2 teams messing things up, that’s why I voted to bring in the 3rd team. Can you recall ever in our history where one party control all 3 branches and we came out better than when we came in? It’s especially important if Democrats control 60% of the senate.
