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Show NEWS Saving helps the economy; bonds provide that chance by Frances Ko&akovrsky Hilltop Times staff writer Increasing America's savings rate is critical to strengthening its economy. Yet, the amount of money the nation saves is deplorably low, trailing far behind most of the industrialized nations with which we compete. One way to promote increased savings across the broad spectrum of citizens is by encouraging the purchase of U.S. Savings Bonds, especially through payroll deduction plans that enable workers at every economic level to save systematically at a comfortable rate. This year's bond drive is under way, continuing through the end of June. This marks the 50th anniversary of the introduction of the modern U.S. Savings Bond. It has been known by various names over the years-Defe- nse, War, Series E, Series EE or Bond. By any name it is our old just friend, a tried and true investment. Bonds are safe, pay competitive rates', and have tax advantages. For 50 years bonds have helped the nation and the individual saver. Series EE Buying bonds by the Payroll Savings Plan helps build financial security. After six months of ownership, the minimum interest you'll earn is 6.57 percent; since the rate is variable, the probability of earning higher interest is great. Bonds offer tax advantages. Series EE Bonds purchased by qualified taxpayers on or after Jan. 1, 1990 are tax-freif used to pay tuition and fees. Bonds are exempt from all state and local income and personal property taxes, and federal taxes may be deferred until bonds are cashed or each final maturity. Bonds offer convenience. They are easily converted to cash at any time after six months of their issue date. Bonds offer security. They will be replaced without charge if lost or e stolen. Bonds support the nation's goal to increase the rate of individual savings, which, in turn, strengthens the economy and helps improve America's competitiveness. Every $1 billion Bi-Week- Accumulations' ly 10 wars 5 years Savings 3.75 553.61 $ 1 1.298.55 $ 5 20 years years $ 2.300.48 5.00 736.16 1,734.44 3.083.00 6.25 7.50 923.11 2.174.25 1,109.58 10.00 1,481.20 2,611.46 3.489.48 3,863.36 4.639.00 12.50 1,853.14 4,366.86 25.00 50.00 3,715.20 7.439.48 8,753.68 17.527.80 100.00 14,878.96 35,055.60 $ 3,647.54 4,888.08 6.125.00 7,359.16 6,200.20 7.760.76 12.304.24 15,555.08 21,664.60 31,145.76 49,385.72 62,291.52 98,771.44 9,831.08 The interest rate on new issues of U.S. Savings Bonds is subject to rontiimous review and may be increased or decreased in accordance with changes in economic and financial conditions. Table assumes current guaranteed interest of 6 percent; rate could be higher. by the Treasury worth of savings bonds sold, Treasury Department officials say, saves $70 million in debt servicing costs; the service on the national debt is, and should be, one of the main concerns of the American citizen. Savings Bond campaign workers state, "We're not asking for a contribution, we're presenting the opportunity for a good investment." Area PARK Ul ART n 0 Hilltop Times Biweekly $ COMMENTARY ' May 31, 1991 Selected Shorts Savings Bond representatives will be signing up employees here at Hill during June. Following Desert Storm, we've got an opportunity to continue to demonstrate an overwhelming patriotism that's long been neglected from the American scene. Do something that feels good and is good for you. Buy a U.S. Savings Bond. 01 ONE DAY ONLY, SAT. JUNE 1st 10 to 5 SPECIAL RACKS $-J- 95 $195,0$595 $295 $395 $495 $595 Selected T-Shi- rts Unlined Jackets $995 Beautiful Colors all styles XSm to XXL WEST JORDAN 1563 W. 8020 S. 566-164- 11 8 SANDY 9314 So. 700 E. 255-500- 6 Savings up to 75 from retail stores 295 $-95to$- LAYTON OGDEN WEST VALLEY 1720 W. 1000 N. 4105 Riverdale Rd. 3392 S. 5600 W. 544-546- 8 621-542- LASSIF1EDS 7 968-065- OREM 573 N. State 226-102- 4 U0 R K 3 ! 1. iflYft irrrj |