If we were allowed to keep the intrest,without being taxed,on simple savings accounts,wouldn't more people be incline to save.Also the banks would have more money to lend for mortgages.I don't know how much the government would lose in revenue,but it might not be that much.I think it's a win-win situation
2007-01-24 05:16:57 · 3 answers · asked by Anonymous in Business & Finance ➔ Personal Finance
The reason is because there there'll be even more class warfare, certain politicians would cry out that it is a tax break for the wealthy.
2007-01-24 05:23:36 · answer #1 · answered by feanor 7 · 0⤊ 0⤋
What are you worried about savings taxes for when their going to take half of whatever you leave behind in inheritance tax.?????
2007-01-24 14:12:02 · answer #2 · answered by CRZYDV 2 · 0⤊ 0⤋
Much like Jeopardy, your answer came in the form of your question.
2007-01-24 13:22:28 · answer #3 · answered by Mythos 2 · 0⤊ 1⤋