It appears we savers in the US are not alone in the world. The British newspaper, The Telegraph, reports on how savers are fighting back in the UK:
Savers are fed up with being punished for their prudence while politicians bend over backwards to seek borrowers' votes - now a new action group aims to get a better deal for depositors and investors.
This action group is called Save Our Savers and here are some excerpts from their front page which describes their goals:
Time and again in recent decades, we savers have been punished in our efforts to provide for the future. Despite the clear economic and social benefits of a thriving savings culture, successive governments have obstructed, neglected, and at times directly attacked the interests of responsible savers.
Save Our Savers offers prudent, forward-looking savers the chance to fight back. We are an independent action group set up by savers for savers.
Our mission is to force policymakers to recognise the vital importance of saving and to encourage the efforts of every saver to support themselves.
Perhaps the United States needs a Save Our Savers organization?
On Thursday I described two of my ideas of tax policy changes that could help US savers and retirees. A few tax policy changes may help a little, but it'll probably take a movement like Save Our Savers to have a chance at making long-term meaningful changes.