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Author: EllenB116 Big red star, 1000 posts Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 75340  
Subject: Re: Confused Newbie Date: 6/4/2004 7:28 PM
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"Can you imagine how fast our elected politicians would be voted out of office if they cancelled or reduced the tax-free status of money in ROTH IRAs? The 'Baby Boomers' will be the most powerful voice in the country for the next 30 years or so, and lots of them have ROTH IRAs (including me)."

Yes, but I've thought about this too. I don't trust them to keep Roth's untaxable any more than I trust them to leave the SS retirement age at 65 (oops - they already changed that didn't they??- with more changes to come I'm sure.) They'll exclude from tax the amounts you contributed - after all, you paid tax on that money already. And they'll sell it to the majority of voters 10 or 15 years from now, because those people will be living a much lower standard of living than us "wealthy" retirees. Just like so many states now are "taxing the rich" - the only "rich" left will be the baby-boomers. (Except of course the truly wealthy who have foundations, tax accountants, and special tax shelter laws passed by their friends the politicians.)

ellen
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