>I’ve done the same calculations as you have, but I’ve also accounted for the average long term Treasury bond rates over that period. If you were born in 1955, started work at 21 and worked until 62, a conservative estimate would be that you’d have over $2,000,000 in the bank if you had invested what was forcibly taken into US Treasury bonds.
So by virtue of making utterly specious assumptions (that you were investing), you come up with a nonsensical value. How useful.
What you paid in is a fixed amount. It has nothing to do with what that money might have been worth.
I was starting to think that you might have a point. Now I know that you are just another asswipe.
What you paid in is a fixed amount. It has nothing to do with what that money might have been worth.
Money today has a future value, based on an expected rate of return. It is the basis of private annuity contracts.
Money in the past has a present value as well. But, it's easy to determine what it's worth, based on historical interest rates.
If you think money in the past isn't worth more, just try to explain that to the IRS. If they audit your return and assess you for back taxes, you'll also be assessed for interest, at the published annual rates. You might be able to get the penalties waived, but you'll still pay the interest.
If you fall behind on a loan or mortgage, the bank will do the same thing.