Millennials have a fraction of the wealth the boomers had at the same age. College costs 10 times more today than when I went to college leading to college debt serfs. Homes prices are up 500% since I graduated thanks mostly to suppressed interest rates creating home mortgage debt serfs.
The Smart Bird
The Early Bird for Investors — Provides a summary of the best commentary and pertinent news
ProPublica: How the Wealthy Avoid Taxes
In the early years, the personal income tax worked as Congress intended, falling squarely on the richest. In 1918, only 15% of American families owed any tax. The top 1% paid 80% of the revenue raised, according to historian W. Elliot Brownlee.
Smart Bird: Robinhooders are the Product
…folks like my nephew actually aren’t your customer. They’re your product. Your customer is sitting right next to you, Mr. Griffin with Citadel.”