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When the retirement issue first surfaced in the presidential race, the most ambitious plan wasn't from a Democratic Elder like Joe Biden, Elizabeth Warren or Bernie Sanders.
The good news is that there are more retirement assets in the United States than ever in our nation’s history - more than $29 trillion. But some of us may have savings gaps in our nest egg. If so, we will be working much longer. But our extended work life can be more productive and creative if we heed some lessons.
The U. S. economy made history at the end of July by sustaining the longest expansion period on record. While the benefits of this prosperity have impacted all different groups and demographics, the benefits to our American senior population in particular are considerable. Here are several ways U.S. economic growth is enabling citizens over 55 to drive even greater economic success.
It was only a matter of time before the climate change guilt police turned its gaze on our senior community. Recently, The New York Times New Old Age delivered the verdict:
A wise reminder from the old Aesop Fable and it appears Congress is indeed moving forward with pragmatic plans to help Americans improve their retirement savings prospects. Programs such as 401(k)s and IRAs were created to incentivize employees to save for the future but many folks find the products too complicated, intimidating or not available.
FreedomWorks is proud to announce that our bill of the month for March 2019 is the End Pensions in Congress (EPIC) Act, H.R. 191 and S. 438, sponsored by Rep. Thomas Massie (R-Ky.) and Sens. Mike Braun (R-Ind.) and Rick Scott (R-Fla.). The EPIC Act would terminate pensions for members of Congress, and force them to save for retirement in the same way that most private Americans do, by responsibly contributing to 401(k)-type plans.
The Internal Revenue Service (IRS) has a long, well-documented history of abusing federal forfeiture laws. They seize assets from innocent Americans on the mere suspicion of malfeasance. If the IRS believes a citizen is structuring deposits to avoid reporting requirements, the agency can seize your money. Administrative reforms were made in 2015 to roll back some abuses, but there is still much work to be done.
FreedomWorks Foundation, American Legislative Exchange Council, Tea Party Patriots and Committee to Unleash Prosperity in partnership with a coalition of conservative organizations and prominent individuals, launched the Save Our Country Task Force.