I am not asking that just the interest be taxed at a lower rate. I am asking that the total amout in this account be taxed at a lower rate year to year. If you dump $2000 into the account. At the end of the year your ballance is say $2012. $2012 is deducted off you gross earings before tax. Then the $2012 gets added back in at a lower tax rate. The next year. Say your ballance is $4055. At tax time you subtract last years ballance - $2012 Then $2043 is the number you use that year.
Lets say that year your car blew up and you had to dig into the fund. So at the end of the year your only at $1050. Well your not going to get a tax break. But you wont get penalized ether. You just wont be able to take a cut until the ballance gets back over the $2012.
If they did that people whould save more. SOme more some just a bit. The big thing is our money would be in the system. Not Chineese money. because its in demand accounts the bankers would have to be careful with it. because we might come get it.
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