Subject: File No. S7-34-11
From: Donna L Harris

September 26, 2011


Historically, the vast percentage of retirees have invested in Certificates of Deposit as a safe way to supplement their Social Security income. Unfortunately, the Federal Reserve has already destroyed this as a means for staying above the poverty line. I believe I am a typical retiree. I have no pension and, although I contributed the maximum amount allowed by law into my 401-k, it has a value of less than $200,000. A CD would produce less than $200 per month under todays rates.

I like many others have been forced to take risks to supplement my SS income to the point where I don't have to look to government assistance. REIT's have given millions of us the opportunity to receive a decent retirement income which would not otherwise be available. The Federal Government has already determined that these investments are not eligible for the capital gains rate so we do pay FULL tax on our investments.

In addition, the Federal reserve has already created problems for us by implementing the TWIST. You people seem to think that dividends from investments such as REIT's and capital gains are for the wealthy. Let me assure you, they are for Joe Normal who is just trying to keep his head above water. You pass rules which allow persons with no savings and small incomes to buy homes and then when they can't keep up with their mortgages, you seek ways to penalize we good citizens by proposing rules such these which ultimately make our meager investments totally worthless.

Perhaps you should spend your time seeking to give us all nice government pensions such as you so we can sleep at night without worrying about someone FURTHER meddling into our financial affairs.