[econjack]

I think I remember an article stating that, in Japan, earnings (i.e., interest) from savings accounts, bonds, and CD’s is tax exempt, which encourages people to save. This also encourages a larger pool of capital for investment purposes. This seems to make sense, which is probably why we do exactly the opposite in this country.

[Shigarian]

This isn’t true — my bank (Mitsui Sumitomo) takes 20% from my interest earnings before it even reaches my account.

Not that that’s such a big loss when a savings account only pays 0.01% per year!

[Red6]

Many numbers thrown around in the media and by politicians are meaningless. Take for example the so call uninsured. Most have availability of insurance but choose not to have insurance, many are illegals, some are veterans who have access to the VA system which does not count as an insurance, many in that number are defined as under-insured (They have insurance but according to some standard, they fall into a catagory that counts them in as well.), even active duty military personnel are counted into the figure of the so called uninsured because near free and near unlimited health care via the military apparently does not count as having access to health care, according to the politicians and media that try to inflate the number as large as possible. Then they round a figure that's based largely on estimates up to the nearest million and wallah, you have 45 million uninsured. So what does it really mean when someone like Obama runs around talking about 45 million uninsured? Little.

Why do I mention this? It's the same in savings. Many people have 401Ks, that wasn't counted in one of those bogus reports on this theme I've seen before....... and so it goes on and on, and on. The idea is that when someone debates any subject they will minimize all counter arguments and maximize their own. Ideally they will exclude counter themes all together. Likewise, when it comes to personal savings in America the goal by many in the media and those talking about this is to show the “low amount” that is saved. Why are personal saving so low in the US? Because only a fool puts their money in a bank where it accrues practically no interest. Because many invest in other areas not counted. If I take my money and invest it in a business, or property, does that count in their savings statistic? Nope, almost guarantee you that. Take me as an example. I have very little tied up in a bank, but I have money invested, and unlike the "dead capital" in a bank, my money is earning something. So what do a lot of those stories mean? About as much as the so called 45 million uninsured. But it makes for a great news story and political theme. IMHO