[RayChuang88]

We need more of a saving culture and less borrowing.

Do one simple thing: make savings and interest-bearing checking accounts up to US$100,000 tax free in terms of interest earned. The savings rate would rocket through the roof if that happens.

[chaos_5]

Do one simple thing: make savings and interest-bearing checking accounts up to US$100,000 tax free in terms of interest earned. The savings rate would rocket through the roof if that happens.

Not a bad idea. I just don't think the average Joe worries about the tax on his meager savings account.

[packrat35]

That suggestion makes just too much sense. Heck even the first $10,000 would improve savings rates.