Annuity Immediate Quotes

The first people to get the new money are the counterfeiters, which they use to buy various goods and services. The second receivers of the new money are the retailers who sell those goods to the counterfeiters. And on and on the new money ripples out through the system, going from one pocket or till to another. As it does so, there is an immediate redistribution effect. For first the counterfeiters, then the retailers, etc. have new money and monetary income they use to bid up goods and services, increasing their demand and raising the prices of the goods that they purchase. But as prices of goods begin to rise in response to the higher quantity of money, those who haven't yet received the new money find the prices of the goods they buy have gone up, while their own selling prices or incomes have not risen. In short, the early receivers of the new money in this market chain of events gain at the expense of those who receive the money toward the end of the chain, and still worse losers are the people (e.g., those on fixed incomes such as annuities, interest, or pensions) who never receive the new money at all.

There had been a time when she admired the way that David became a doctor. When he had told his father of his intention, General Melrose had immediately cut off his annuity, preferring to use the money to rear pheasants. Shooting men and animals were the occupations of a gentleman, tending their wounds the business of middle-class quacks. That was the General’s view, and he was able to enjoy more shooting as a consequence of holding it. General Melrose did not find it difficult to treat his son coldly. The first time he had taken an interest in him was when David left Eton, and his father asked him what he wanted to do. David stammered, ‘I’m afraid I don’t know, sir,’ not daring to admit that he wanted to compose music. It had not escaped the General’s attention that his son fooled about on the piano, and he rightly judged that a career in the army would put a curb on this effeminate impulse. ‘Better join the army,’ he said, offering his son a cigar with awkward camaraderie.

First, let’s be clear: there are really only two general categories of traditional annuities: immediate annuities and deferred annuities.

The best solution in our view would be to combine the enactment of a negative income tax with winding down Social Security while living up to present obligations. The way to do that would be: Repeal immediately the payroll tax. Continue to pay all existing beneficiaries under Social Security the amounts that they are entitled to under current law. Give every worker who has already earned coverage a claim to those retirement, disability, and survivors benefits that his tax payments and earnings to date would entitle him to under current law, reduced by the present value of the reduction in his future taxes as a result of the repeal of the payroll tax. The worker could choose to take his benefits in the form of a future annuity or government bonds equal to the present value of the benefits to which he would be entitled. Give every worker who has not yet earned coverage a capital sum (again in the form of bonds) equal to the accumulated value of the taxes that he or his employer has paid on his behalf.