In a case of great timing, DQYDJ’s article guessing how Mitt Romney has so much money in his IRA is now the third most popular article on the site! While I hold no belief that this situation will continue past November of this year, I think that, in the moment, it’s interesting to ask how a retail investor (read: the rest of us) might have fared had we contributed as much as the Romney family must have during Mitt’s 24 year stint in the public sector (whew). So, how much out-performance did Mr. Romney achieve?
Media and fellow bloggers alike enjoy bemoaning the hazardous plague of inflation. I will show that not only is this argument not grounded in reality, but that it also ignores many ancillary benefits of an inflationary rate: spending encouragement, debtor relief and avoidance of a deflationary spiral.
It has been mentioned here and elsewhere that the mortgage interest deduction in the tax code is a roundabout way of subsidizing banks. If interest rates are determined by supply and demand then the demand for interest rates is only dependent on what a taxpayer’s “effective interest expense is”. A new study suggests that most of the benefits fall into the hands of lenders.
If there is anything in politics sillier than Congressional Job Approval polls, I’ve yet to find it – yet here I am writing about it. Ostensibly, these polls are set up to gauge the public’s trust in Congress – to get an idea about the public mood regarding our elected leaders.
In reality, the entire setup of the poll is a sham. Here’s the thing – unlike the President, the average voter cannot vote out the average Congressman (or woman). The truth is, Congress is set up in the way that it is strictly to avoid the public’s mood from tearing the House and Senate apart.
Before the primaries move on to Kansas and various territories (the Virgin Islands, Guam, and the Northern Marianas), it’s time to take a quick look back at how far the four remaining candidates have come – in both votes and delegates!
We’ve had our first major upset of the Republican primary!
On Tuesday, there were 3 major events in the Republican primary calendar. Both Minnesota and Colorado held caucuses while Missouri held a non-binding primary. Going into the night, Santorum was expected to win Missouri (he had been campaigning there, while other candidates had been avoiding it) and likely to win Minnesota as well. Colorado, having similar demographics to Nevada (although having a notably smaller Mormon population) was expected to grant Romney a victory. In fact, prior to voting in Colorado, betting site Intrade had Romney at 97% to win the state. To riff off a common sports phrase? That’s why they count the votes!
Well, Newt Gingrich took down previous favorite Mitt Romney in a shocker in South Carolina. What can we say about the upset? These exit poll posts will continue until morale improves!
You can read the cross-tabs here.
You’ve got an IRA, right? This site has been preaching the tax benefits of both traditional and Roth IRAs since the beginning… and we aren’t going to stop now. So hopefully you’ve been diligently saving in your IRA, with the hope that some day you’ll have a couple million dollars in there (or at least a good amount of funds you can tap in retirement).
Mitt Romney, it was revealed in financial disclosure documents, has an Individual Retirement Account worth somewhere between $20.7 and $101.6 million dollars. Note that IRAs have a small limit when compared to 401(k)s and other employer retirement accounts, so this came as somewhat of a shock to people with IRAs. How did Mr. Romney achieve such an impressive sum in his retirement account?
The late William F. Buckley, founder of the conservative-leaning political magazine National Review had a very famous quote when it came to the Republican primaries: vote for the most conservative candidate who can win. Add to that little piece of advice this oft-repeated maxim: “Democrats fall in love. Republicans fall in line.” (popularized by Bill Clinton). Toss those two together and what do you get? New Hampshire Primary results… at least according to the exit polls! Let’s dig in…
Wish there was a Congressional Net Worth graph somewhere? There is, on this very page! Using data compiled from one of our favorite sites Open Secrets, we took the average United States Congressional Net Worth (note that disclosure comes as a range, so average will fall between the low and the high point) and used IBM’s Many Eyes to show their net worth to you, our curious readers.