I don’t want to block or remove people from Twitter, but I also don’t want to particularly read their tweets. Is there a way like on Facebook (on the wall removing updates by particular people) of not viewing their tweets?
There isn't a way I know of. Honestly, if you truly don't want to "unfollow" them but also don't like the garbage they say, just skip reading it on your news feed. This features will most likely be updated soon with surmounting Twitter popularity.
And right in Tweetdeck (the desktop version, not the Chrome version), you can create filters that will exclude certain words, or people.
There's also third-party services that do that like Muuter or Twalala.
Alternatively, if you use a Twitter client like Brizzly, you have the option to mute users.
I'm not sure if the feature you're looking for exists. What you could do is use an app like TweetDeck or Seesmic (my favorite) that allows you to create lists. Then you can simply exclude the people whose updates you don't want to see from the lists you create.