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So here’s the math, Barry. If you start with a thousand and you only have an addition of $750 a year, okay, families can contribute to that, your 00:44:48 [Speaker Changed] Corporate tax free. You take it out tax free as well. 00:44:49 [Speaker Changed] Correct? Completely. Your corporation can contribute to it.
So, you start the blog in 2004, more or less. SETHI: When I show people for example that if you take a mortgage, you might as well just add on 50 percent to that mortgage to account for taxes, interest, maintenance, opportunity costs they are shocked they can’t believe it. It’s much deeper than math. SETHI: Yes.
If congress does nothing, then starting in 2034 incoming payroll taxes would cover 80% of retiree payouts implying a 20% cut. Cutting benefits and raising taxes are the two most talked about way to fix it. There's been talk of raising the cap on payroll taxes. More taxes on workers? FRA of 72? I don't know.
So I, I did a math degree at Oxford, which is more pure math. You know, pure math can be very theoretical and detached from the real world, and it’s getting worse. You don’t have to pay any tax and just let the rest ride. It’s just math stick to it over long periods of time. You give out 5%.
So, I did the math, 20 million times a hundred. So, let me just repeat the math. And so, again, I went through this simple math. At that moment in time, 2004, Vladimir Putin became the — becomes the richest man in the world. And so, it wasn’t just a fishing boat, it was an oceangoing factory, very impressive.
RITHOLTZ: 2004, 2005. So this is the math that I applied. So think about this, do the math. How do I go about protecting this giant pool of capital and how do I not get killed tax wise? LINDZON: They have their own tax problems. How’s my 10 grand doing? LINDZON: Yes. LINDZON: I hate CNBC. RITHOLTZ: Right.
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