Yes, it would be nice, but consider that many have been using the tools provided, IRA's (seriously limited incentives), self-funded retirement programs (tons of red tape, and high funding requirements), I believe what is needed is the ability to fund our retirement programs with flexible terms.

I have no problem with limits on with-drawls, but I do have a problem with forced with-drawls such as is required with 401K programs. I personally believe this business of taxing interest income is a barrier to savings. It doesn't really generate that much in the way of taxes, but it sends a signal that our government is greedy.

Dawn, thanks so much for bringing this issue to the forefront. As more and more baby boomers reach that magic age of 50, you can be sure there will be more and more self-employed entrepreneurs who have no intention of ever again having or being employees.

This issue of no way to get health insurance in a cost-effective manner, no way to insure income against a downturn (unemployment) and yet the requirement to pay both halves of the FICA (and Medicare) tax amounting to over 15%, it gets to be a real nightmare.

It's time the invisible entrepreneurs are recognized as a viable economic segment in the US.

Thanks Harry, let's keep plugging away here, and soon, the team will clearly understand we all want to help in the best way possible.

My focus today is on "consumer debt and savings accounts".

First I'll address what I considers BARRIERS to savings accounts.

1. There is no consistency in banking regulations which make opening and maintaining a savings account. Some banks require you to open a simple passbook savings with a minimum deposit of $100 to $300. For those banks that allow you to open an account with very little money (as low as $1.00), the monthly fees are fixed rates, ranging from $4 to $5 per month until you have a minimum average balance of over $300.

Why would I want to give money to the bank for safe-keeping only to have the bank eat my money with their outrageous fees?

2. If you are able to make an "automatic monthly transfer" from your checking to your savings account, the minimums are generally $25... too high. The amount should be flexible, just like for investing in an IRA.

3. At the end of the year, after you've saved all year long, you're required to pay income tax on the interest you earned on your savings. Bad idea unless you have more than $1000 of interest income. Why would I want to save my money, pay bank fees, pay interest, etc, only to possibly end up with less than I started with in my savings account?

4. Here are things that will stimulate savings. Make the minimum amount to start an account $10.00. Make it illegal for banks to charge fees on a savings account if you also have a checking account with that bank. Eliminate the income tax on "passbook savings account" interest unless that interest exceeds $1000. Create a 1% tax credit on the highest average annual balance reached in an individual savings account.

Now, about that pesky consumer credit problem.

I personally believe as long as the general American public is kept in debt through consumer credit, it is akin to being in servitude. Being in servitude makes a person weak in the eyes of creditors. It also forces us to carry a burden that could very well be passed to our heirs. We become dependent upon others, not a good position when you want us to become strong.

It has become obvious the "700 Billion Bailout" has not been used as it was designed. It has not freed up a lot of credit, but has been used for further consolidation of powerful banks.

According to Credit card industry facts, debt statistics 2006-... the total credit card debt is just over $344 billion.

1. Use $150 billion of the "bailout" money to pay off consumer credit card debt. Do that by requiring debtors to produce credit card statements. If the amount due on the credit card exceeds $500 or 10% of the debtors existing credit line, pay off the debt in full, and revoke the consumer credit card privileges.

2. If the debt exceeds 10% of the annual household income, pay off the debt and revoke the credit card privilege.

3. Make it just as illegal to advertise credit cards on TV as it is to advertise tobacco and alcohol. All are addictive, so why promote them?

What would all this solve?

It would give most consumers an 18-30% increase in discretionary income if they weren't paying high interest on credit cards. It would allow consumers to pay their mortgages and car payments and still have money left over for savings.

No, it won't stop sensible spending.

Yes, it will crush the credit card industry... So sorry charlie, you've been predatory way too long.

Let's have a serious discussion about this.

continued from above...

We have better than 300 sunny days a year, and yet the cost of installing a solar energy power plant (at the individual level) is cost prohibitive. Without any incentives, the payback is nearly 20 years.

However, if you figure in the cost (to the co-op) of building higher capacity transmission lines, the money could be better spent on both wind and solar energy generation systems for our very rural valley.

One of my dreams here on our SW Utah desert is to have our local electric co-op actually lease unusable (no water) acreage so they can build solar/wind generation facilities. If we can do this by the quarter-section, and provide the half dozen or so households per that quarter-section, then that would take us off-grid.

One of our issues here is that the electricity we get is generated in SE Utah (the dam that created Lake Powell) and the lines carrying it are rapidly reaching capacity, thanks to the growth of both Cedar City and St. George.

While I don't believe it's as feasible for wind energy in urban areas, it is a no-brainer for the rural areas. Remember the old windmills that pumped the water from the well?

Thank you from the bottom of my heart for creating this discussion forum. I really do believe you want to hear about our needs, and when you have enough of us telling you the same thing, change will happen,

I live with three other women. All of us are in our mid fifties or older. If any of us were to try and survive on our own, we'd be homeless. Two of us receive SS. Another is a retired law enforcement officer on permanent disability (cancer survivor). The last is at that age where it's hard to get a job. Believe me, age discrimination is alive and well.

Together, we make just enough not to be eligible for much assistance. Our combined incomes are usually $500 a year too high to qualify for anything from health care for me, to heating assistance, etc.

So, we make do. We live rurally, as it is much less expensive than living in an urban area. We grow some of our food. We raise animals both for our meat and for sale to others. We raise chickens for the meat and eggs.

One of us works part time driving the bus for our local Senior Center. We are all concerned about potential cuts in "senior services" even though there is an increasing need. Our vehicles move only for her to go to work (and shop at the same time). We use the senior bus monthly for our "big shopping" trip.

We'd love to become "energy independent" as we live in an area that provides enough wind for a wind turbine, and we get more than 300 days of full sun yearly. However, the costs are prohibitive without tax incentives and really cheap financing, Our credit is marginal thanks to medical bills, moving expenses, and lack of work. We've long since cut up our credit cards but we'll be paying those bills for a long time.

I have no health insurance as the cost is prohibitive. One of us was lucky enough to get on the PCN program. That covers basic stuff only.

I'm willing to help "make a difference" in our area. My dream is for our local electric co-op to make our entire desert valley energy independent. Land is cheap as there is no water for development, so we might as well build solar panels and wind turbines, if it can be done in a cost-effective manner.

Thanks for listening
Shari