If you had the power to write laws would you provide incenti

If you had the power to write laws, would you provide incentives to encourage Americans to save more? If so, how? If not, why?

Solution

Answer : We know that, Income = Consumptions + Savings. A person who earns spend his/her income on current consumptions and savings for future usation. Day by day inflation rate becomes higher and in short time period it is not possible to increase person\'s income . At that time saved amount help the person to live freely and thus the person can meet the basic needs of the family and extra demands. Hence as a laws writer I will encourage Americans for more savings and will suggest to save more by creating fixed deposits in banks, purchasing insurance policies, shares, bonds etc.