Un-Tax Personal Savings Bill

Congress is rife with new proposals to "help" Americans by new give-away programs. What if they just took a little less of our money, by exempting personal savings interest from taxation?

Even if you file the simple 1040EZ, you still have to include and pay taxes on the interest earned on personal savings. It may be a small amount, but it will send a message that Congress really wants to help, allow us to keep more of our money and encourage personal savings.

Just heard a national TV host, telling people to draw money out of savings and buy stuff, since the after-tax interest on most savings is about 2%. Do we really want the whole country to draw down it's capital reserves, even more? What does a capitalists nation do without capital?

Maybe the good Dr. could join with some prominent liberal and propose a bill that will actually help. The "Paul, Un-tax Savings" bill!

What do you think? Is this too simple? Isn't taxing savings, double-taxation?

Go Ron Paul!!