Add a Text Tool [suggestion]

I have a feature suggestion to add a text tool. Here's an idea how it would work:

• When you click the Text tool, a caret appears where your cursor hovers over the canvas.
• Above the pixel size selection, there is a font drop down and a font size slider.
• The color for the text used is the color you have most recently used.
• You're free to upload your own fonts or use a selection of fonts currently available.
• Once you have selected your desired font and size you can click anywhere on the canvas to place your text.
• It creates the text on a new layer so the user can easily move it.