Subject: File Number S7-07-18: Stop financial advisers from sapping Americans' retirement savings
From: Michael Shapiola

Jun. 21, 2018

Jun 21, 2018

Securities and Exchange Commission

To the and Exchange Commission,

The largest group of people who get short-shrifted and scammed are
senior citizens. From phone scams to financial scams, we are the major
targets. We are not the rich - scam the rich instead of poor,
limited-income seniors. Not very many of us have IRAs or stocks &
bonds. We barely get by on our pensions, Social Security &
Medicare. In this situation, all the various medical companies/health
insurers are trying to raise our premiums. Is this fair? I &
millions of other Americans are going to die without anything to leave
to our families. Is this also fair? Wall Street has got to stop this
nonsense. Take it out of the rich who can afford it. Let the rich pay
the same amount of taxes that we have to pay. The middle-class is
obviously the ones who are supporting not only the rich but the poor
who can't even afford to put bread on the table. If you are going to
exploit anyone, exploit the rich. Close the ridiculous tax loopholes
that the rich have access to. Take away the tax loopholes for the rich
and make them pay the same 35% rate that we middle-class have to pay -
and make it plain and straight-forward - 35% - no more and no less.
Equality for all. The Middle-Class cannot support the other two classes
- the rich and the poor. Please stop exploiting those who are
supporting the poor and the rich. Exploit the rich for a change -
they've got the money - the middle class and the poor do not!!!

I'm counting on you to make a stronger rule that closes the loophole.
Americans who've worked hard to save for retirement deserve peace of
mind about their financial security.


Mr. Michael Shapiola