The Motley Fool Discussion Boards
Investing/Strategies / Retirement Investing
|Subject: Re: Cancellaton of Tax-free Roth Withdrawals??||Date: 11/29/2010 6:14 PM|
|Author: madbrain||Number: 67748 of 83150|
Congress could do whatever they want with taxes in the future, and will. I don't think you can do much to predict what they will do. You do have an impact on future government spending and taxes - it's called voting.
With two unnecessary wars the defense spending has gone from about $2500 per capita in 1998 to $4000 in 2010.
What else has increased by 60% over that period ? Not taxes to pay for it, that's for sure.
It is a given that we will have tax increases, the only question is what form they will take - older SS retirement age, increased ceiling on SS contributions, national sales tax, expiration of the wrong-headed Bush tax cuts, etc. None of them are going to be popular. Could Roth withdrawals be taxed in the future ? Maybe not federal and state income tax, since you have already paid it before contributing to the Roth plan, and it would be double taxation. But it's conceivable that new taxes would apply to earnings in the future.
|Copyright 1996-2017 trademark and the "Fool" logo is a trademark of The Motley Fool, Inc. Contact Us|