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Showing posts with the label savings

Obama is going to help me. Again

Hide your wallets. The Messiah is now going to help you to save money. In his Saturday morning internet address, President Obama announced a plan to help cash strapped Americans, those who actually work and pay taxes – you know the middle class, to “save” money. I read this on CNN’s website so it must be true. After all, isn’t CNN one of the most trusted news organizations in the country? Here’s the link: http://money.cnn.com/2009/09/05/news/economy/Obama_retiremetn/index.htm?postversion=2009090506 The Anointed One will allow Americans to receive their income tax refunds in the form of US Savings Bonds. Sounds like a great idea, until you think about it for a minute. Savings bonds (Series EE) are issued at ½ their face value. They take twenty (20) years to mature. The bonds cannot be cashed for a period of one year and , if you cash them in before 5 years you lose the last three (3) months interest, plus pay taxes on the amount. See the informati...