Green Retirement Blog

The Bush Administration and House Democrats, are fighting a proposal by Senate Democrats, to include 20 million retired Americans in the economic stimulus tax rebate proposal. At the same time that prices for food, energy, and medical care are rising, the Federal Reserve has been cutting interests rates, effectively reducing the incomes of many retirees who are invested in government bonds.

Expenses up, income down, no rebate or relief for the retired. Any retiree earning less than $3,000 in income is ineligible for the rebate program. Those needing a rebate the most, the poor and the elderly, are being excluded. This is economic injustice. When the economy goes bad, everyone is affected, and any scheme created should benefit everyone.

Retirees have no option at this point, to deal with the recession, other than to reduce their consumption. That hurts the economy, but since no one seems to care about the retired, why should the retired care about stimulating Washington or Wall Street?

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