[John.Galt2012]

I think it’s a bad idea because it’s a disincentive for consumption...

As opposed to disincentive for production (income tax)???

As you stated, tax that which you wish to discourage i.e cigarettes, alcohol, earning and production???

You are correct, it would disincentive spending, which is detrimental to a country who borrows in order to spend money it doesn’t have. IMO that is probably why we are in such an economic mess right now.

[Terpfen]

You are correct, it would disincentive spending, which is detrimental to a country who borrows in order to spend money it doesn’t have. IMO that is probably why we are in such an economic mess right now.

Clearly more people should save just according to common sense. I have a problem when people attempt to use tax policy to achieve that higher rate of savings, that's all.