let’s make some paper people welcome to
watchmojo.com one by one I want you to
deal with your problems by becoming rich
in today’s installment we’ll be looking
at the five myths about money that left
us bankrupt we’ll be covering money in
its many wonderful forms be it in your
wallet the stock market or the bank myth
number five a penny costs eight times as
much as it’s worth to make most of us
can agree that the penny is good for a
few things outside of wishing wells and
paying off parking tickets but common
knowledge is somehow grown to accept the
notion that our link and friend costs
eight times as much as it’s worth to
produce zinc and to a lesser extent
copper make up the primary cost of
manufacturing a penny and depending on
the going rate of these items it may
very well cost you a cent or two more to
produce in theory however this all evens
out when metal costs are low
what’s more the circulation of a single
penny far surpasses its singular costs
of creation so if you’ve ever considered
a career in melting down pennies for
their precious metals keep in mind that
it’s not only illegal but it’s also far
less profitable than you may think
myth number four saving accounts
eliminate the possibility of losing
money what about my savings account the
economy has been quite rocky in recent
years with the 2008 housing bubble and
being skeptical of the stock market is
hardly unreasonable given its
uncertainty however just because it’s
guaranteed that you won’t be losing your
money overnight
doesn’t mean that savings accounts gain
or even maintain their value can’t make
the scene if you don’t have the green
interest rates are notoriously low for
savings accounts given their risk for
your nature you’d be hard-pressed to
find an annual interest rate above one
percent while inflation fluctuates
between 1.5% to over 3% on any given
year money is a relative concept so a
higher inflation rate means a lower
level of relative wealth in the long run
we’re not suggesting that you go out and
invest in the next Enron but if you’re
not moving forward you’re moving
backwards as they say hell you’ll just
earn your money away myth number 3
earning more money may result in less
net income due to tax brackets if you
think it was death and taxes you
couldn’t avoid that it’s actually
definite so the Bossman’s finally given
out that raise you’ve been working
towards I am going to double your salary
but after careful analysis it comes to
your attention that your new tax bracket
is 10 percent higher than before believe
it or not this in no way puts you in
danger of earning less or even a
comparable amount to your earnings
before family lives update or FICA
capture the majority of countries
operate under what’s known as a marginal
tax rate in the US for example a single
tax filer pays 10% on their first nine
thousand two hundred and twenty five
dollars 15 percent on any earnings after
that until thirty seven thousand four
hundred and fifty dollars and the
pattern continues until roughly forty
percent is given on all earnings above
four hundred and thirteen thousand two
hundred and one dollars so don’t turn
your nose up at that lovely bonus
Nichols Wilde you are under arrest
ah for what hurting your feelings felony
tax evasion myth number two trading
stocks is just like gambling so
Vegas etrade they’re more or less the
same thing right
well in theory the stock market can be
treated like a roulette table but any
broker with this mentality will find
themselves without a job if not also
under the scrutiny of the law after
losing their clients money Michael give
me my money back Michael do you hear me
I want my money back a major difference
between the two is their end goal with
gambling acting as a zero-sum game while
investors aim to expand the PI 5 if
Apple stocks go up both the investors
and the company are happy if you win big
at the craps table the Bellagio loses
money from their pockets calculated
decision-making replaces emotionally
driven crap shoots in the stock market
and those with addictive behaviors are
swiftly weeded out of the trading floor
the debugger is forced down prices is
gonna buy everything back on a cheap
Starfire myth number one the u.s. owes
China so much debt that China owns them
we were being ripped off by everybody
every country including China big league
it’s been said in many a political
debate China owns the US and we’d hate
to see what happens if they ask for
their money back yes China does hold
over a trillion dollars of the United
States national debt but national debt
is far more complex in the friend who
owes you $600 in rent money I would like
your share of the rent now please oh man
you know I don’t have it you wind me up
for that come on the dollar is one of
the safest currencies in the world and
China uses this debt to peg the UN to
the dollar a dollar pegged yuan also
makes their emerging market more robust
internationally which goes hand in hand
with cheaper Chinese exports we’re not
saying that overwhelming national debt
is a good thing but it certainly
distorted for political rhetoric in
cases such as this well China has money
does anybody win so yes so how many of
these money myths did you believe
I found a quarter for more cash grabbing
top tens and inflationary top fives be
sure to subscribe to watchmojo.com
watchmojo.com one by one I want you to
deal with your problems by becoming rich
in today’s installment we’ll be looking
at the five myths about money that left
us bankrupt we’ll be covering money in
its many wonderful forms be it in your
wallet the stock market or the bank myth
number five a penny costs eight times as
much as it’s worth to make most of us
can agree that the penny is good for a
few things outside of wishing wells and
paying off parking tickets but common
knowledge is somehow grown to accept the
notion that our link and friend costs
eight times as much as it’s worth to
produce zinc and to a lesser extent
copper make up the primary cost of
manufacturing a penny and depending on
the going rate of these items it may
very well cost you a cent or two more to
produce in theory however this all evens
out when metal costs are low
what’s more the circulation of a single
penny far surpasses its singular costs
of creation so if you’ve ever considered
a career in melting down pennies for
their precious metals keep in mind that
it’s not only illegal but it’s also far
less profitable than you may think
myth number four saving accounts
eliminate the possibility of losing
money what about my savings account the
economy has been quite rocky in recent
years with the 2008 housing bubble and
being skeptical of the stock market is
hardly unreasonable given its
uncertainty however just because it’s
guaranteed that you won’t be losing your
money overnight
doesn’t mean that savings accounts gain
or even maintain their value can’t make
the scene if you don’t have the green
interest rates are notoriously low for
savings accounts given their risk for
your nature you’d be hard-pressed to
find an annual interest rate above one
percent while inflation fluctuates
between 1.5% to over 3% on any given
year money is a relative concept so a
higher inflation rate means a lower
level of relative wealth in the long run
we’re not suggesting that you go out and
invest in the next Enron but if you’re
not moving forward you’re moving
backwards as they say hell you’ll just
earn your money away myth number 3
earning more money may result in less
net income due to tax brackets if you
think it was death and taxes you
couldn’t avoid that it’s actually
definite so the Bossman’s finally given
out that raise you’ve been working
towards I am going to double your salary
but after careful analysis it comes to
your attention that your new tax bracket
is 10 percent higher than before believe
it or not this in no way puts you in
danger of earning less or even a
comparable amount to your earnings
before family lives update or FICA
capture the majority of countries
operate under what’s known as a marginal
tax rate in the US for example a single
tax filer pays 10% on their first nine
thousand two hundred and twenty five
dollars 15 percent on any earnings after
that until thirty seven thousand four
hundred and fifty dollars and the
pattern continues until roughly forty
percent is given on all earnings above
four hundred and thirteen thousand two
hundred and one dollars so don’t turn
your nose up at that lovely bonus
Nichols Wilde you are under arrest
ah for what hurting your feelings felony
tax evasion myth number two trading
stocks is just like gambling so
Vegas etrade they’re more or less the
same thing right
well in theory the stock market can be
treated like a roulette table but any
broker with this mentality will find
themselves without a job if not also
under the scrutiny of the law after
losing their clients money Michael give
me my money back Michael do you hear me
I want my money back a major difference
between the two is their end goal with
gambling acting as a zero-sum game while
investors aim to expand the PI 5 if
Apple stocks go up both the investors
and the company are happy if you win big
at the craps table the Bellagio loses
money from their pockets calculated
decision-making replaces emotionally
driven crap shoots in the stock market
and those with addictive behaviors are
swiftly weeded out of the trading floor
the debugger is forced down prices is
gonna buy everything back on a cheap
Starfire myth number one the u.s. owes
China so much debt that China owns them
we were being ripped off by everybody
every country including China big league
it’s been said in many a political
debate China owns the US and we’d hate
to see what happens if they ask for
their money back yes China does hold
over a trillion dollars of the United
States national debt but national debt
is far more complex in the friend who
owes you $600 in rent money I would like
your share of the rent now please oh man
you know I don’t have it you wind me up
for that come on the dollar is one of
the safest currencies in the world and
China uses this debt to peg the UN to
the dollar a dollar pegged yuan also
makes their emerging market more robust
internationally which goes hand in hand
with cheaper Chinese exports we’re not
saying that overwhelming national debt
is a good thing but it certainly
distorted for political rhetoric in
cases such as this well China has money
does anybody win so yes so how many of
these money myths did you believe
I found a quarter for more cash grabbing
top tens and inflationary top fives be
sure to subscribe to watchmojo.com
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