Tuesday, December 31, 2013

Some Perspective on How Rich the Gun Control Crowd Is

Michael Bloomberg, who pretty much funds the entire gun control movement, now has a net worth of $27 billion.  To give you some perspective on how much that is, if you were not too bright, and had $27 billion, you could invest it in municipal bonds of the state where you live, and earn about 5% a year, with none of that income being taxable. (Be careful what munis you buy–some are private activity bonds, and are taxable.) And what would 5% a year on $27 billion be? While a miserable $1.35 billion a year.

The interest on the interest would be $67.5 million a year.

The interest on the interest on the interest would be $3.375 million a year.

The interest on the interest on the interest on the interest would be $168,750 a year.

Most of us could live on that every year very comfortably and have lots left over.

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