Thursday, October 8, 2015

State Treasurer Jeff DeWit tells a simple story about "sooner money"

DeWit has a simple analogy explaining why Ducey's land trust raid is so wrong. It's not more money, it's just "sooner money" and eventually it will be less money. From Laurie Roberts at

"The best example I can give is let’s say you’re in your first year of retirement you cash out half of your 401k and you buy a Ferrari. Your friends are going to see you driving around in a really nice car. You’re going to have a whole bunch of money in your checking account. Do you have more money? No, you have sooner money. Once that money’s gone, you have a lot less money forever going forward and you have financial trouble. That’s the equivalent of what this plan is for the schools."

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