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.
quote by Cliff Stearns
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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.
quote by John W. Snow
Submitted by Lucian Velea
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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 Hepner
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How many millionaires do you know who have become wealthy by investing in savings accounts? I rest my case.
quote by Robert G. Allen
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Voluntary personal savings accounts would enable future retirees to harness the power of the marketplace when saving for their retirements.
quote by Bill Frist
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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.
quote by William Greider
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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.
quote by Jim Cooper
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In economic panics throughout history, the wiping out of the savings accounts of lower earners and the middle class has often led to social revolution, sometimes violent upheavals.
quote by Nick Clooney
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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 Paterson
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Personal savings accounts to me are one of the most powerful things, not necessarily in saving, solvency, or bankruptcy of the program, but in guaranteeing, the words I used a few minutes ago, a safe and secure retirement for our seniors.
quote by Bill Frist
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President Roosevelt, the author of Social Security, was the first to suggest that, in order to provide for the country's retirement needs, Social Security would need to be supplemented by personal savings accounts.
quote by John Doolittle
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We need to increase access to health insurance through Health Savings Accounts and high deductible policies, so individuals and families can purchase the insurance that's best for them and meets their specific needs.
quote by Michael Steele
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It's time to stop the raid on the Social Security trust fund and start allowing Americans to invest their Social Security taxes in personal savings accounts.
quote by Mike Pence
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We designed both our state employee health plans and the one we created for low-income Hoosiers as Health Savings Accounts, and now in the tens of thousands these citizens are proving that they are fully capable of making smart, consumerist choices about their own health care.
quote by Mitch Daniels
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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.
quote by John W. Snow
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By requiring that any surplus in Social Security taxes be returned to the American people in personal savings accounts, the plan ensures that Social Security taxes will be used for Social Security.
quote by Mike Pence
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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.
Youth should be a savings bank.
quote by Anne Sophie Swetchine
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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.
poem by Oskar Hansen
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Anything that we can do to raise personal savings is very much in the interest of this country.
quote by Alan Greenspan
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Economy is a savings-bank, into which men drop pennies, and get dollars in return.
quote by Josh Billings
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