Obama to Let Taxpayers Convert Tax Refunds Into IOUs

michaelr

Former Staff
Dec 2006
89,668
6,643
FEMA Region 10
Obama to Let Taxpayers Convert Tax Refunds Into IOUs



W]e’ll make it easier for people to save their federal tax refunds, which 100 million families receive. Today, if you have a retirement account, you can have your refund deposited directly into your account. With this change, we’ll make it easier for those without retirement plans to save their refunds as well. You’ll be able to check a box on your tax return to receive your refund as a savings bond.


Man, well if they can't sell treasury bonds to willing countries, they might as well sell them to you....



Mayhap this belongs in humor.



Make sure to listen to him drone on and read the links...
 

Djinn

Council Hall
Dec 2007
52,402
39,515
Pennsylvania, USA
[quote name='michaelr' date='08 September 2009 - 01:42 PM' timestamp='1252431752' post='18561']

Obama to Let Taxpayers Convert Tax Refunds Into IOUs



Man, well if they can't sell treasury bonds to willing countries, they might as well sell them to you.... Mayhap this belongs in humor. Make sure to listen to him drone on and read the links...

[/quote]

You may want to check, but this is nothing new... Savings bonds have been available to the public since 1935. And people buy them all the time.
 

michaelr

Former Staff
Dec 2006
89,668
6,643
FEMA Region 10
[quote name='Djinn' date='08 September 2009 - 10:51 AM' timestamp='1252432293' post='18568']

You may want to check, but this is nothing new... Savings bonds have been available to the public since 1935. And people buy them all the time.

[/quote]

really, you don't say, huh, mayhap thats how I bought my first cow. Now run along and get you refund, if your getting one, converted and support the economy......I dare you!
 

michaelr

Former Staff
Dec 2006
89,668
6,643
FEMA Region 10
[quote name='PoliticalHotwire' date='08 September 2009 - 11:13 AM' timestamp='1252433637' post='18585']

Do people really still buy Savings Bonds?

[/quote]

Please let me answer this with a question, I know it is rude. Would you????
 

Djinn

Council Hall
Dec 2007
52,402
39,515
Pennsylvania, USA
[quote name='michaelr' date='08 September 2009 - 02:14 PM' timestamp='1252433689' post='18586']

Please let me answer this with a question, I know it is rude. Would you????

[/quote]

We bought one recently as a baby shower gift. And my own kids have received a few thousand dollars worth, all of which are in our fire safe. Sure, the economy is crappy now, but if history is any judge, there will be no problem cashing them in once they mature in another few decades.
 
Sep 2005
4,824
582
I wouldn't even know where to buy them. I'm guessing I'd start at the post office.



I have an unwritten rule: Tho Shalt Not Invest In Anything Purchased From a Vending Machine At The Post Office.
 

michaelr

Former Staff
Dec 2006
89,668
6,643
FEMA Region 10
[quote name='PoliticalHotwire' date='08 September 2009 - 11:17 AM' timestamp='1252433864' post='18589']

I wouldn't even know where to buy them. I'm guessing I'd start at the post office.



I have an unwritten rule: Tho Shalt Not Invest In Anything Purchased From a Vending Machine At The Post Office.

[/quote]

You used to just get them at a bank.
 

michaelr

Former Staff
Dec 2006
89,668
6,643
FEMA Region 10
[quote name='Djinn' date='08 September 2009 - 11:17 AM' timestamp='1252433839' post='18588']

We bought one recently as a baby shower gift. And my own kids have received a few thousand dollars worth, all of which are in our fire safe. Sure, the economy is crappy now, but if history is any judge, there will be no problem cashing them in once they mature in another few decades.

[/quote]

For the kids thats all fine and stuff, but savings bonds are anything but that. If inflation hits like it should, and it is, gold at 1007 this morning, then it will cost you to hold them. Buy silver dollars or something instead.



This idea of the government is because they are not selling bonds overseas, and there is a reason for that.
 
Nov 2007
11,730
5,825
NE Wisconsin
[quote name='PoliticalHotwire' date='08 September 2009 - 01:13 PM' timestamp='1252433637' post='18585']

Do people really still buy Savings Bonds?

[/quote]



Yup, sure do. I give them as Christmas and birthday gifts to my neices and nephews.