Youth should be a savings bank.

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My legislation, the Simple Savings Tax Relief Act of 2005, simply eliminates the taxation of interest earned in savings accounts, such as passbook savings accounts or bank certificates of deposit.

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The Premier and the Socialist

The Premier and the Socialist
Were walking through the State:
They wept to see the Savings Bank
Such funds accumulate.
"If these were only cleared away,"
They said, "it would be great."
"If three financial amateurs
Controlled them for a year,
Do you suppose," the Premier said,
"That they would get them clear?"
"I think so," said the Socialist;
"They would -- or very near!"

"If we should try to raise some cash
On assets of our own,
Do you suppose," the Premier said,
"That we could float a loan?"
"I doubt it," said the Socialist,
And groaned a doleful groan.

"Oh, Savings, come and walk with us!"
The Premier did entreat;
"A little walk, a little talk,
Away from Barrack Street;
My Socialistic friend will guide
Your inexperienced feet."

"We do not think," the Savings said,
"A socialistic crank,
Although he chance just now to hold
A legislative rank,
Can teach experienced Banking men
The way to run a Bank."

The Premier and the Socialist
They passed an Act or so
To take the little Savings out
And let them have a blow.
"We'll teach the Banks," the Premier said,
"The way to run the show.

"There's Tom Waddell -- in Bank finance
Can show them what is what.
I used to prove not long ago
His Estimates were rot.
But that -- like many other things --
I've recently forgot.

"Advances on a dried-out farm
Are what we chiefly need,
And loaned to friends of Ms.L.A.
Are very good, indeed,
See how the back-block Cockatoos
Are rolling up to feed."

"But not on us," the Savings cried,
Falling a little flat,
"We didn't think a man like you
Would do a thing like that;
For most of us are very small,
And none of us are fat."

"This haughty tone," the Premier said,
"Is not the proper line;
Before I'd be dictated to
My billet I'd resign!"
"How brightly," said the Socialist,
"Those little sovereigns shine."

The Premier and the Socialist
They had their bit of fun;
They tried to call the Savings back
But answer came there none,
Because the back-block Cockatoos
Had eaten every one.

poem by Andrew Barton PatersonReport problemRelated quotes
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Fishing Rods, Guns And God

Some say: Give me a fishing rod
so when I start to wish
for food I needn’t pray to God:
I’ll catch myself a fish.
Some think that rifles or revolvers
may solve their problems better,
becoming with such problem solvers
to God a lifer debtor.

All fishing rods are just like guns
in any fish’s eyes,
but I feel merciless when one’s
my dinnertime fish prize.

A bank account won’t save a fish
from dying, but with one
you may prepare a sauce that’s pish,
and not be forced to run
away from cops or into church
or synagogue for aid,
for it won’t leave you in the lurch,
demanding debts be paid.

Inspired by Nicholas Kristof’s Op-Ed in the NYT, December 31,2009 “Sparking a Savings Revolution”) :
There’s an old saying about poverty: Give me a fish, and I’ll eat for a day. Give me a fishing rod, and I’ll eat for a lifetime. There are many variations in that theme. In Somalia, I heard a darker version: If I buy food, I’ll eat for a day. If I buy a gun, I’ll eat every day. But these days, there’s evidence that one of the most effective tools to fight global poverty may be neither a fishing rod nor a gun, but a savings accounts. What we need is a savings revolution. Right now, the world’s poor almost never have access to a bank account. Cash sits around and gets spent — and, frankly, often spent badly.

12/31/09

poem by Gershon HepnerReport problemRelated quotes
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A system of capitalism presumes sound money, not fiat money manipulated by a central bank. Capitalism cherishes voluntary contracts and interest rates that are determined by savings, not credit creation by a central bank.

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Josh Billings

Economy is a savings-bank, into which men drop pennies, and get dollars in return.

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More Than We Are

Came home singing, Sorrento, you said Here
comes Maria Von Trapp - little knowing that I
was being Leo Buscaglia, happy in knowing
about the Necrotelicomnicon* offering a Door
out of this World

I need these dreams because I had to check a
lease contract for my Calvinist colleague who
immediately queried every change I made – I
only did it because I am being paid; it has no
meaning to me

Whether the rental agreement stipulates lease
or rent or bank savings rates or bank rates for
savings; who cares, irrelevant – if she prefers
her own version I am happy to concur – why
ask me in the first place

She ought to know me by now, sounds are
important, not their dictionary meaning, the
sound IS the feeling, keep your definitions,
I will keep on singing, no need to let one
interfere with the other

The most important thing is to determine
whether I am Madame Butterfly, Carmen
or Christine; which role can I sing, how
far can we go, can we love like Leo
Buscaglia, can we

understand the difference between being
who we are - take up our own space or
try to be more than we are…


(Necrotelicomnicon - reference found in “Moving Pictures” – Terry Pratchett -
Corgi edition 1995, p.174)

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Once the brokerage house, rather than the bank, became the locus for American savings, that money would find its way into the stock market, because the broker was someone with a much higher tolerance for risk than the banker.

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Pensioners

Pensioner

There are problems in the land and you are a pensioner,
austerity is like a sweat horse blanket that doesn’t dry.
Medicine old people needs are getting more expensive,
and come to think of it isn’t old folks pension to high?
Many young people think so as their old age is far away.
Look at them the smug old bastards, have no mortgage
to pay, they are no good consumers don’t buy furniture,
and have savings in the bank. The new society doesn’t
need people who believe in old values, what silly notion.
So tax their savings and their medicine so they can begin
to feel our pain. They had the best of times when work
was plentiful, they lived at a time of copiousness, so let
them try how it feels like to be young today.
An old lady, on Zimmer frame, was robbed yesterday.

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Obviously, people with low or even moderate incomes could not afford such savings rates, and even diligent savings from their low wages would not be enough to pay for either retirement or healthcare.

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We promote domestic savings by also things like the personal accounts associated with the president's Social Security initiative, which over time would generate more savings.

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With our national savings rate well below one-percent, it is imperative that the government embrace innovative and cost-effective means of boosting personal savings.

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Social security, bank account, and credit card numbers aren't just data. In the wrong hands they can wipe out someone's life savings, wreck their credit and cause financial ruin.

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Supertight

They call me Mister Supertight,
As if I'm somewhat mean!
But I'll buy if the price is right,
In fact, it's then I'm keen!
I love a bargain now and then,
I think that's quite sublime...
Like Mister Scrooge and skinflint men,
Why should I waste my time?

I visit stores, I shop around,
I go online as well...
And, oh, the savings that I've found!
The stories I could tell!
I save those coupon vouchers, too,
Five pound, ten pound and more!
Like frugal folks, I'll Google through
And find discounts galore!

My Bank account can testify
The savings that I've made!
Like me, research before you buy,
Then haggle unafraid!
Half price may be the best you'll get,
Like two-for-one steal deals...
If cashback sites are your best bet,
Then think of how that feels...

They call me Mister Supertight,
As if I'm somewhat mad!
Yet overpaying's not that bright,
I don't like being had!
Thank God, I'm full of Christmas cheer!
Paid too much? You're to blame!
I've saved a fortune year-by-year...
And you can do the same!

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Youth is blind

Youth is power; youth is vigour;
Youth is initiative; youth is revolutionary;
Youth is dedication; youth is freedom;
Youth is love; youth is passion.
Yes, because youth is blind
Out of them elders make winds
01.01.2003

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Youth Youth Youth

Youth youth youth
Youth youth youth
Never wanna be an adult
Always wanna be in revolt
Youth youth youth
Youth youth youth
Don't wanna spend my life saving up for things
Don't wanna have what a steady job brings
I don't want security
Don't want responsibility
Don't wanna stay at home not making any noise
I've always got to be out
I've always got to have a choice
I don't want security
Don't want responsibility
Youth youth youth
Youth youth youth
I don't want no uniform
I don't want no book of rules
Youth youth youth
Youth youth youth
Never wanna be an adult
Always wanna be in revolt
Youth youth youth
Youth youth youth
I don't want no uniform
I don't want no book of rules

song performed by by Billy IdolReport problemRelated quotes
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The Nightmare of Man

Man works throughout life
from childhood to adulthood.
He builds his place in heaven
sitting leap years in classrooms
harvesting diplomas for his career,
saying the best words of himself
as investment for job applications.

He daily climbs up the ladder as goal
He is obsessed of success and ambition.
From a house to land, bank savings
or loans, he continues to strive on.
But at a wink of an eye, all that he
has struggled for, all that he collects
to own, are lost and gone irrepairable.

For sure enough, the flames of fire
eat up all what he has acquired
within his years and decades in life.
Typhoon, tsunami, flood and cyclone
drown all what he has long labored.
Earthquake, disease and transient thieves
swallow up even his last bank loan.

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My river bank

The water hit the bank
Like a wave upon a shore
Happiness just out of reach
Finding that is something you can’t teach
No one to talk to
No one to see
As you can tell just me
I sit alone on my river bank
No happy people passing by as I let out a gentle sigh
I realized I sit alone on my river bank
Unreal happiness in this unreal tournament they call life
I sit alone, isolated on my river bank
I shall always sit alone on my river bank
I will always be alone on this river bank

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Money, Money

My baby gives me the finance blues, tax me to the limit of my revenues.
Here she comes finger-poppin, clickety-click
She says furs or diamonds, you take your pick.
She wants money, what she wants, she wants money, what she wants,
She wants money, what she wants, she wants money, what she wants,
Money money, money money money. money money, money money money.
She say, money, honey, Id rob a bank,
I just load my gun and mosey down to the bank.
Knockin off my neighborhood savings and load,
To keep my sweet chiquita in eau de cologne.
She wants money, what she wants, she wants money, what she wants,
Money money, money money money. money money, money money money.
Mama dont send me down to rob that bank again,
I got a notion that your leadin me to sin.
Wont you relax, wont you lay way back,
Dont you bug your honey bout no cadillac.
Its only bucks, you dont need no jack.
So wont you please relax and lay way back.
My babys lovin gives me such a thrill;
It gives me inspiration makin counterfeit bills.
Now some folks say the best things in life are free,
She wants money, what she wants, she wants money, what she wants,
Money money, money money money. money money, money money money.
Lord made a lady out of adams rib, next thing you know, you got womens lib.
Lovely to look upon, heaven to touch;
Its a real shame that they got to cost so much.

song performed by by Grateful DeadReport problemRelated quotes
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Age considers, youth ventures

Age considers, youth ventures

Age visualizes, youth dreams

Age makes theories, youth experiments

Age loves, youth longs

Age sees people, youth sees places

Age knows belongings, youth discovers them

Age pains to gain, youth gains to others' pain

Age has heart, youth has mind

Age is thoughtful, youth is tactful

Age ponders, youth wonders

Age recounts, youth counts

Age is experienced, youth is in experience

Age is cautious, youth dashes

Age floats, youth swims

Age lives, youth still making a living

Age is in touch with termination, youth with determination

Age is confident, youth is competent

Age adds years to living, youth adds life to living

Age is lost in past, youth is drowned in future

Age is grown, youth is crown

Ageless is youth, youthless is age

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Well, the U.S. is running a current account deficit; we are creating lots of investment opportunities in the United States that exceed our own domestic savings rates, so the issue here is to encourage higher savings rates in the United States.

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