Learn Bonds has been spear heading an effort to get the US Treasury Department to re-instate paper saving bonds. Since starting the petition, less than 6 weeks ago more than 150 people have signed the petition. The effort has gained national media attention with a full article appearing yesterday in the New York Times “Bucks” blog. This follows Lou Carlozo’s Piece “Petition To Restore Old Fashion Paper Savings Bonds”
Learn More About The Bring Back Paper Saving Bonds Petition
We received the following letter today from, Jon Black, a supporter of the petition:
“I just read the article on the “Savings Bonds Advisor” website pertaining to the petition to bring back paper savings bonds. I signed the petition and I enthusiastically agree with the effort to return to paper bonds. I hope the petition is successful. I have sent many messages to the Treasury via the Treasury Direct website. My efforts to question them and to argue in favor of continuing paper bonds only resulted in “boilerplate” responses mentioning savings on spending for paper, yet dismissing the value of the paper bond as a teaching tool for kids and grandkids. This is the same Treasury that misses millions of dollars of income through tax loopholes for wealthy folks, most of whom don’t buy savings bonds.
At a time when it is becoming imperative that young people and “Joe Sixpacks” step up saving for their retirements as the burden for their post-working years is shifting to them, the value of tax deferred investments purchasable in small denominations, should be obvious and should be a priority. But at the Treasury, it apparently isn’t. Through reduced purchase limitations, slashed interest rates, and now the elimination of paper bonds, the Treasury has incrementally dismantled what used to be an excellent program for small savers: the United Stated Savings Bond program.”