Talking Points: October 26, 2020

October 26, 2020

There is nearly $11 trillion in retirement accounts and it is calculated that this year, because of  required minimum distributions, $75 billion had to be sold to meet the obligations. It is estimated that it will rise to $250 billion a year in 2030. CNBC, October 17, 2020

The Fed estimates that the wealthiest 10% of Americans hold more than 88% of all available equity in corporations and mutual fund shares. Forbes, October 8, 2020

“Money can’t buy you happiness, but it can buy you a yacht big enough to pull up right alongside it.” David Lee Roth

Take all the physical assets owned by all the companies in the S&P 500 and then sell them at cost in one giant sale, they would generate a net sum that doesn’t even come out to 20% of the index’s $28 trillion value. Much of what is left is stuff you can’t see or count: algorithms and brands and lists. Back in 1985, tangible assets tended to be closer to half the market’s value. Bloomberg, October 21, 2020

In 2006, a Subway franchise in Ireland applied for a refund on paid taxes, arguing that since its products include bread, a “staple food,” it should be exempt. The Irish Supreme Court decided against Subway because under a 1972 law, the sugar content in bread can’t account for more than 2% of the weight of the flour in the dough. In all of Subway’s bread options, sugar accounts for 10% of the flour’s weight, therefore it is a confectionary, not bread. NPR, October 1, 2020

Back in 1845, Election Day was designated as the Tuesday following the first Monday in November. At the time, officials calculated that farmers needed a day to get to the country seat to cast ballots but did not want to interfere with church on Sunday, so they chose Tuesday. History, December 2, 2019

“Before you embark on a journey of revenge, dig two graves.” Confucius

Never miss another Talking Points. Sign up here

image:© geertweggen/stock.adobe.com

Share this on: