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Forum » Bill Ackman's proposal to give every baby $6750 to be invested in the S&P500
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Thread: Bill Ackman's proposal to give every baby $6750 to be invested in the S&P500

post 1679677113 03-27-2023, 06:13 AM
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Bill Ackman's proposal to give every baby $6750 to be invested in the S&P500

This is a few years old, but still seems like one of the best existing proposals for addressing wealth inequality for future generations:

https://www.forbes.com/sites/shaharz...-millionaires/

Would cost hardly anything in the grand scheme of govt spending (around $26 billion a year) and would leave people with either 6 or 7 figures in retirement wealth depending on how future returns track, regardless of how poor or disadvantaged they started. Which would then give the subsequent generation a significant leg up at the start of their lives too.

All capitalist countries should do something similar, srs.
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post 1679677383 03-27-2023, 06:20 AM
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Would you like me to cut your piece of birthday cake into 2 pieces, so you can have twice as much?
post 1679677443 03-27-2023, 06:21 AM
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An interesting concept... not sur eabout the 65 years though.
post 1679677553 03-27-2023, 06:24 AM
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Originally Posted By PimpinisEasy⏩
An interesting concept... not sur eabout the 65 years though.
The main point of that is so you can get the maximum out of compounding, which is exponential. But it could be made eligible for withdrawal earlier, say age 50 or so.
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post 1679678023 03-27-2023, 06:32 AM
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What happens if someone dies before the age of 65?
post 1679678113 03-27-2023, 06:35 AM
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They could have done this instead of social security.

Why didn't they?


Because it doesn't give the gov't the control that it seeks.
post 1679678313 03-27-2023, 06:39 AM
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Originally Posted By Dave22reborn⏩
What happens if someone dies before the age of 65?
Probably given to beneficiaries, as with 401ks or pensions or anything similar.
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post 1679678983 03-27-2023, 06:52 AM
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Originally Posted By isingmodel⏩
Probably given to beneficiaries, as with 401ks or pensions or anything similar.
What if the person who dies isn't married?
post 1679679183 03-27-2023, 06:55 AM
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Originally Posted By Dave22reborn⏩
What if the person who dies isn't married?
Back to the Government, obviously.
post 1679679263 03-27-2023, 06:57 AM
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Originally Posted By Dave22reborn⏩
What if the person who dies isn't married?
Im sure you could write a legal will they would name a beneficiary.
post 1679679453 03-27-2023, 07:00 AM
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Originally Posted By Guyfawkes1010⏩
Im sure you could write a legal will they would name a beneficiary.
If I die, and I'm unmarried, my kids aren't getting my pension, no matter what I put in my will.
post 1679679673 03-27-2023, 07:05 AM
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hmmmm, Interesting concept.

I wonder if it would have any psychological down falls? You spend 65 years never having to budget in a savings and then when you hit 65 you all of a sudden have to start budgeting in what you have to spend.

granted people aren't budgeting for a savings/ retirement to begin with.
post 1679680093 03-27-2023, 07:16 AM
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Originally Posted By macmoney⏩
hmmmm, Interesting concept.

I wonder if it would have any psychological down falls? You spend 65 years never having to budget in a savings and then when you hit 65 you all of a sudden have to start budgeting in what you have to spend.

granted people aren't budgeting for a savings/ retirement to begin with.
Just interesting how the OP's solution to everything is more government......
post 1679680903 03-27-2023, 07:34 AM
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Early life checks out
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post 1679681413 03-27-2023, 07:47 AM
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"Billionaire provides supposedly benevolent solution to poverty that just so happens to dramatically inflate the value of all of his assets"

FTFY
post 1679682773 03-27-2023, 08:18 AM
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Running a Monte Carlo simulation with $6,750 invested in VFINX for 65 years with no other contributions or withdrawals and with historical inflation, would be worth about $579,000 (adjusted for inflation). That ain't much 65 years from now. Each person would still have to save/invest some of their own money.
A democracy is two wolves and a lamb voting on what to have for lunch. And that's why the USA is a constitutional republic and not a democracy.
post 1679682843 03-27-2023, 08:19 AM
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That $26 billion would be better off being sent to the Ukraine, sorry OP.
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post 1679682923 03-27-2023, 08:20 AM
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People will vote to get access to the money.
post 1679683133 03-27-2023, 08:23 AM
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Originally Posted By Dave22reborn⏩
What if the person who dies isn't married?
Again, the same thing that we already do for pensions and savings and assets in such a scenario. Really stretch that cop brain to its limit and it shouldn't be that difficult to grasp.
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post 1679683283 03-27-2023, 08:25 AM
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Originally Posted By 401Delta⏩
Would you like me to cut your piece of birthday cake into 2 pieces, so you can have twice as much?
That doesn't look like this to me.

I'm normally against this kind of thing and do worry this kind of idea would backfire -- however, the idea behind it, that idea's time has come. Wealth inequality is out of control and 26b is a lot of money, but what the fuk else is the Government spending on? What? Four times that amount to corrupt Nazis in Ukraine to help stimulate WW3? I'd rather we took the money and burnt it than give it to Zelensky.

Good post OP, good to see you posting as well. Would love to see more normal and decent people on the left post around here. So tired of clowns or angry screamers representing the left in this section.
All truth passes through three stages. First, it is ridiculed. Second, it is violently opposed. Third, it is accepted as being self-evident.

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post 1679683343 03-27-2023, 08:26 AM
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Originally Posted By leafs43⏩
They could have done this instead of social security.

Why didn't they?


Because it doesn't give the gov't the control that it seeks.
It does when they eventually control the American retirement system(your retirement) Thats coming, 100% guaranteed.

You think when the future foreign born based electorate(expected to add over 100 million in a couple of decades(doesn't include amnesty and the 80+ million that would bring in) easily outnumbers the current electorate(who controls all the wealth)....is going to let it stay that way?? LOL.

INB4 white boomers(not you)...but they cant do that1!11 Thats not fair!11!
post 1679684013 03-27-2023, 08:38 AM
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Originally Posted By poundXpound⏩
Running a Monte Carlo simulation with $6,750 invested in VFINX for 65 years with no other contributions or withdrawals and with historical inflation, would be worth about $579,000 (adjusted for inflation). That ain't much 65 years from now. Each person would still have to save/invest some of their own money.
Not sure how you arrived at that, S&P500 average returns since inception is 11.8%, with average yearly inflation in that time period around 3.8%, so adjusted for inflation a $6750 initial grows to over $1 million after 65 years. And 'that ain't much 65 years from now' is erroneous since you've already adjusted for inflation in your calculation.

Of course the historic returns may not continue into the future (especially the kind of gains seen in the past decade of near 0% rates, QE etc) but as I said, still likely a 6-7 figure inflation adjusted sum unless something goes horribly wrong with the world.

People should still save and invest themselves but ensuring every citizen, regardless of privilege at birth, participates in the currently very disproportionate wealth accumulation of the corporate class for the whole duration of their lives seems a total no brainer given the costs involved.
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post 1679684063 03-27-2023, 08:40 AM
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Originally Posted By JUSA⏩
That doesn't look like this to me.

I'm normally against this kind of thing and do worry this kind of idea would backfire -- however, the idea behind it, that idea's time has come. Wealth inequality is out of control and 26b is a lot of money, but what the fuk else is the Government spending on? What? Four times that amount to corrupt Nazis in Ukraine to help stimulate WW3? I'd rather we took the money and burnt it than give it to Zelensky.

Good post OP, good to see you posting as well. Would love to see more normal and decent people on the left post around here. So tired of clowns or angry screamers representing the left in this section.
On recharge sir.
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post 1679685453 03-27-2023, 09:10 AM
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Originally Posted By isingmodel⏩
Not sure how you arrived at that, S&P500 average returns since inception is 11.8%, with average yearly inflation in that time period around 3.8%, so adjusted for inflation a $6750 initial grows to over $1 million after 65 years. And 'that ain't much 65 years from now' is erroneous since you've already adjusted for inflation in your calculation.

Of course the historic returns may not continue into the future (especially the kind of gains seen in the past decade of near 0% rates, QE etc) but as I said, still likely a 6-7 figure inflation adjusted sum unless something goes horribly wrong with the world.

People should still save and invest themselves but ensuring every citizen, regardless of privilege at birth, participates in the currently very disproportionate wealth accumulation of the corporate class for the whole duration of their lives seems a total no brainer given the costs involved.
It grows well into 7 figures, but those dollars 65 years from now would be equal to $579,000 in today's dollars. You can run it yourself if you like (I use the 50th percentile results):

https://www.portfoliovisualizer.com/...rlo-simulation
A democracy is two wolves and a lamb voting on what to have for lunch. And that's why the USA is a constitutional republic and not a democracy.
post 1679691163 03-27-2023, 10:30 AM
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Originally Posted By isingmodel⏩
This is a few years old, but still seems like one of the best existing proposals for addressing wealth inequality for future generations:

https://www.forbes.com/sites/shaharz...-millionaires/

Would cost hardly anything in the grand scheme of govt spending (around $26 billion a year) and would leave people with either 6 or 7 figures in retirement wealth depending on how future returns track, regardless of how poor or disadvantaged they started. Which would then give the subsequent generation a significant leg up at the start of their lives too.

All capitalist countries should do something similar, srs.
Liberals will somehow tax you and what you make on it so it likely wont be worth much.

We will only tax the top 1%
Actually, make that the top 5%, but that's it
We need to pay for climate change/global warming, rain, sun. Lets make that the top 50%
Anybody earning more than $500K has to pay half, no, make that 75% of any profits on investments,
People can only get back the original amount that was put in for them, Their taxes will go towards the great good

Signed Democrats
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post 1679691343 03-27-2023, 10:32 AM
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Originally Posted By JUSA⏩
That doesn't look like this to me.

I'm normally against this kind of thing and do worry this kind of idea would backfire -- however, the idea behind it, that idea's time has come. Wealth inequality is out of control and 26b is a lot of money, but what the fuk else is the Government spending on? What? Four times that amount to corrupt Nazis in Ukraine to help stimulate WW3?I'd rather we took the money and burnt it than give it to Zelensky.

Good post OP, good to see you posting as well. Would love to see more normal and decent people on the left post around here. So tired of clowns or angry screamers representing the left in this section.
Reminds me of this:

post 1679694583 03-27-2023, 11:31 AM
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Given how much we waste on complete boondoggles and warmongering, this would be a far more productive way to utilize that money instead.

I do think it would require some additional limits for the number of eligible children in order to prevent abuse similar to welfare, like dividing the total by the number of children after a threshold within a certain period of years.
Originally Posted By macmoney⏩
hmmmm, Interesting concept.

I wonder if it would have any psychological down falls? You spend 65 years never having to budget in a savings and then when you hit 65 you all of a sudden have to start budgeting in what you have to spend.

granted people aren't budgeting for a savings/ retirement to begin with.
They could always switch to teaching kids about economics, budgeting, investing, and finances instead of imaginary genders or made up pronouns.

It's astounding how how little any of that makes up the total curriculum of a student's time in school, if at all for some of those..
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post 1679694953 03-27-2023, 11:38 AM
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Originally Posted By isingmodel⏩
This is a few years old, but still seems like one of the best existing proposals for addressing wealth inequality for future generations:

https://www.forbes.com/sites/shaharz...-millionaires/

Would cost hardly anything in the grand scheme of govt spending (around $26 billion a year) and would leave people with either 6 or 7 figures in retirement wealth depending on how future returns track, regardless of how poor or disadvantaged they started. Which would then give the subsequent generation a significant leg up at the start of their lives too.

All capitalist countries should do something similar, srs.
and of course it would make the already wealthy even wealthier as it pumps their investments.
Is there no limit to what people will believe if it is prefaced by the phrase,
"Scientists say" ?

I rep back +0
post 1679695613 03-27-2023, 11:52 AM
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Originally Posted By JUSA⏩
Good post OP, good to see you posting as well. Would love to see more normal and decent people on the left post around here. So tired of clowns or angry screamers representing the left in this section.
Irony everyone. Pure, unadulterated irony.
post 1679696533 03-27-2023, 12:05 PM
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Originally Posted By poundXpound⏩
It grows well into 7 figures, but those dollars 65 years from now would be equal to $579,000 in today's dollars. You can run it yourself if you like (I use the 50th percentile results):

https://www.portfoliovisualizer.com/...rlo-simulation
That's using different numbers to what I am using - depends exactly which historical returns data you use (eg. S&P500 data only or including earlier Composite Index data too). But yeah splitting hairs somewhat.

Inflation adjusted you are correct it's not multi millions, but it's still a sizeable sum. Every person retiring even with a guaranteed $500k+ in real dollars is a substantial shift in wealth to the working class.
Originally Posted By semitope⏩
and of course it would make the already wealthy even wealthier as it pumps their investments.
It does pump their investments yes. But consider that currently around half of Americans hold no stock market wealth at all.
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