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Author: JAFO31 Big gold star, 5000 posts Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 77568  
Subject: Re: no matching 401k vs. Roth IRA Date: 8/14/2003 12:47 PM
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<<<<They wouldn't get away with taxing a Roth IRA. It would be a political death sentence.>>>

{{{Back in the olden days when I started my TSA at Penn State, you could take out money and just pay the taxes on it. Two years later, there was a 10% penalty added to the price of withdrawal and I believe this was a Federal tax change. Remember that high income folks don't have Roths for the most part because they couldn't contribute or convert and they all vote.}}}

"The wealthy only make up a very small proportion of the votes in America. Roth IRA contributions begin phasing out at $95,000 for single filers and $160,000 for married couples. There aren't a heck of a lot of voters in these categories. "

But the wealthy contribute a ton to politicians and certainly are benefitting hugely from the recent tax cuts, especially when comparing families without children.

Regards, JAFO

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