There's only one taxcut that should be in the stimulus plan: stop taxing interest on personal ...

[Gogi]

savings accounts! It's ridiculous, make 10 cents and it's a taxable event! They don't tax savings in many other countries so why here? My proposal is 95.99 percent infrastructure and the rest can be tax cuts.

[Occam Bandage]

1. Frankly, the last thing we need to do right now

is provide a tax incentive for stashing money in banks instead of spending it.

[Raineyb]

9. Right because giving people incentives to spend money they don't have is always the way to go

Our savings rate is pathetic and frankly the interest most of us get on our accounts is minuscule to be taxed on it as well is just asinine.

Regards

[HowHasItComeToThis]

2. AND DON'T TAX SOCIAL SECURITY

[Deep13]

3. Duh!

How daft is that?

[Cleita]

4. It seems it should be illegal because it's a double tax and I thought

there was a law against it, but thanks to the Reagan, it happened.

[PVnRT]

8. ...or unemployment, for that matter

Taxing either of these makes no sense at all.

[The_Casual_Observer]

5. Reagan started that one I think. He also eliminated the deduction of credit card

interest.

[high density]

6. I know people who make $30k a year in interest

I know these people would love the tax cut, but they don't need it and it would create zero jobs.

[Gogi]

10. So cap it at $5,000.00...

I'm tired of having to add a lousy $20.00 to my gross income at tax time. As for spending our way back to the way things were, that boat has capsized, this is the new reality. American incomes are moving to a lower level. I've never bought the bs that our "service" economy was sustainable because it was financed by foreigners buying dollars as a safer haven. Now the foreigners can buy Euros.

[doc03]

7. I think the first $200 interest was

not taxed until Reagan. Reagan also started taxing unemployment compensation, he said unemployment was just a paid vacation for Union workers.