Excellent

Good Sense for a Strong Dollar

With the economy and our financial situation careening along toward a dangerous mixed-up mess, or a beautiful golden age there is at least one thing we can do to improve our financial situation. We need to pass legislation that establishes a savings plan that includes 4 parts- RETIREMENT, HEALTH, EDUCATION and HOME MORTGAGE. We the people are a bunch of chumps when it comes to saving money. An economy that has been sustained by cheap labor from foreign countries has fostered a false sense of endless wealth and criminally ridiculous government programs that are taking us to the edge of disaster.

We seriously need to build habits of saving and a single easy plan, an All America Savings Plan, is the way to go. As with college savings 529 plans contributions to an All  America Savings Plan should not be taxed when money is put in or when it is taken out. Restrictions must be put on the retirement part so that people cannot take money out except for some extreme life problem. Young people in their teens can start an account and put most of their money toward college or toward building a down payment for a house. They can SIGN OUT OF SOCIAL SECURITY and start their own lifetime savings plan if they decide that is best for them. This will set up a very interesting ‘live experiment’ which will show people the TRUTH about Social Security and eventually reduce it to a quaint relic from the Depression days.

Youngsters will be required to put a minimum amount in retirement and health. As they go on through life they can employ their money to pay off a mortgage and after that  improve their long-term financial situation. Grandparents could put donations into the accounts of grandchildren with no government meddling. This All America Savings Plan will make saving easy, popular and effective. If the politicians don’t like the idea of not getting their hands on that money – tough. They can look for employment elsewhere. We can rid ourselves of the myriad investment schemes that give politicians more excuses to connive, and give working people a simple all in one way to steer their paychecks into their own futures rather than to D.C.

This will be a good way to get people to invest their money with little chance of losing it in the Wall Street casino. I think it might provide a – steady – source of support for businesses that need to upgrade and expand. Along with this we need to pass federal legislation that requires every child to get a bank account after becoming sixteen years old. Children need to start getting serious about money and planning for the future at this age and putting money into a savings plan is a good way to get them going. I can see this becoming a regular family habit with grandparents, parents and kids realizing what steady reliable investment and growth can do  – not just for security – but for prosperity.

What a happy change it will be to get up each morning in a country with financial and economic good news just a regular encouraging fact of life for We the People.