Is Putting Money In A Savings Account/cd’s Even Worth It? How Much Does The Government Take From It?

If I made $300 in interest this year let’s say – does the government take as much from that as they would my paycheck? Is it even worth saving to gain interest?

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One Response to Is Putting Money In A Savings Account/cd’s Even Worth It? How Much Does The Government Take From It?

  1. leckiewe says:
    November 4, 2009 at 8:54 am

    You’re not losing any of your savings so what’s the problem? The government only taxes you on the interest you made, so if you made $300 in interest just remember you’re only bringing half of it home. It’s better than putting your money in a no-interest account and not earning anything.