A Good Plan to Boost US Household Saving Rate

Shlaes and Edwards, in their op-ed in the WSJ, suggest the creation of a tax-exempt universal saving account modeled on the Canadian Tax-Free Savings Account or TFSA:

 http://online.wsj.com/articles/amity-shlaes-and-chris-edwards-a-simple-tax-reform-can-help-families-and-promote-economic-growth-1408919408