Portfolio Update 11/07/08: Bob the Drummer

At the end of this week, there is hope.

Hope for Bob the Drummer.

You see Bob the Drummer does not want his taxes to go up so he can buy a business. His story was so powerful that it launched a tour.

The tour was confusing, because it tried to make the point that Bob, who was worried about paying higher taxes, should support a candidate that would have him paying three times more taxes than if he supported the other candidate.

The average drummer in Bob's home state earns $47,930 a year.

Well those earning $47,930 would see their tax bill decline by $319 under the plan of the candidate who launched a tour touting Bob's struggles. But the other candidate's plan would see the average drummer's taxes decline $1042.

Bob did not quite understand this or did not care. Bob actually has no plans to buy a business, so the foundation of his story is a bit of a lie. Also turns out Bob is not a licensed drummer and does not bother to pay the taxes he owes under the current tax plan.

The reason there is hope today for Bob is that the candidate that plans to lower the taxes that Bob can continue to not pay by three times as much as the candidate that used Bob to try and scare a lot of people, is now the president elect.

So there is hope for Bob and anyone else who wants to be a drummer.

For those of us seeking to make pretend money with hypothetical investments, this week was a bit rough.

The WylieMoney portfolio of Mostly Managed mutual funds continues to be the best performing portfolio invested on May 1 2007, but by less than 1%.

WylieMoney 20 Mostly Managed
ETF 20
Three Fund Index
WylieMoney Slowly
Lazy 20 Mostly Index
S&P 500

No comments: