My 8 month old does the same thing. She also loves paper. She will sit in the floor forever and tear up magazines or paper. I think it is all normal!
LOL I thought my baby was the only one who loved tags!!! The tag on my boppy is almost ripped off from him playing with it! He also can find the tags on anything--from blankets to toys.For some reason he just loves tags!! I think it's pretty funny, and definitely not something to worry about.
Of course, if he is able to get a tag completely OFF, he could choke. And then YES, that is something to worry about. But if you are right with him, and he is just playing or mouthing the tag on an item, then I think he is just fine.
Have you heard of the brand "taggies" they make blankets and toys with tons of silky tags attached to them. Lots of kids love them, sounds like yours will too!