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Author: Tiggertoo One star, 50 posts Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 75531  
Subject: Re: Roth IRA and a consumption tax Date: 6/2/1998 10:39 PM
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>>>I have been a little bummed because we do not qualify for converting our
IRA's into Roth IRA's. However an article I read recently got me
thinking. If the USA switches to a consumption tax in future years,
converting to a Roth would have been a costly move. Any thoughts on
this?<<<

IMHO you don't have anything to fret. I do not think it will happen anytime in the near future. This subject has been around for a long time and has never moved any closer to actuality.

If it does happen, I am sure there will be some provision for the tax deferred accounts. If not, there would be a mass lynching of our elected senators and representatives.

The taxs laws are so ingrained in our society and governmental policy that I don't think that they could change them even if they wanted to. How else do you think that the government can change policy so easy as with tax laws.

Think we are having to many people in this country, try cutting the deduction. Want to enlarge the workforce, try giving a tax credit for child care.

Roth on, Roth forever!

LOL

TTFN...TiggerToo
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