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Politics : Politics for Pros- moderated

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To: Brian Sullivan who wrote (423601)	4/26/2011 2:41:30 AM
From: KLP	1 Recommendation Read Replies (1) of 793515

The greater question Brian...is since compound interest is truly a miracle....how much would the compound interest have been if it were left alone to compound for all those years....? For many years, we had over 10% interest rates on savings....probably the average over the 48 years was 6%....compound that amount over the years.... This now older generation (born about 1930-1952) or so isn't the same as the late Boomers forward to today....we believed in saving money, spending what we could afford to spend, and very seldom did we go into debt for a car....maybe a house, but that was about it.... 2. I have been paying Social Security taxes for 48 YEARS (since I was 15 years old. I am now 63). How much did that Geezer actually pay? VS. how much he expects to take out of the System.

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