UnThreaded | Threaded | Whole Thread (4) | Ignore Thread Prev Thread | Next Thread
Author: Fooolish4 Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 76392  
Subject: Roth IRAs extinct?? Date: 8/26/2000 6:06 PM
Post New | Post Reply | Reply Later | Create Poll Report this Post | Recommend it!
Recommendations: 0
I learned about Roth IRAs this past spring. I thought it was a great concept so I opened one for my wife and myself and have almost maxed out our contributions for this year.
I have heard through the "grapevine" that the government probably won't allow Roth contributions very much longer and that there is even current legisation to do away with them. Is there any truth to this? That was the first I had heard about that.
Print the post Back To Top
Author: rjm1 Big red star, 1000 posts Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: 24375 of 76392
Subject: Re: Roth IRAs extinct?? Date: 8/26/2000 6:27 PM
Post New | Post Reply | Reply Later | Create Poll Report this Post | Recommend it!
Recommendations: 0
I learned about Roth IRAs this past spring. I thought it was a great concept so I opened one for my wife and myself and
have almost maxed out our contributions for this year.
I have heard through the "grapevine" that the government probably won't allow Roth contributions very much longer and
that there is even current legisation to do away with them. Is there any truth to this? That was the first I had heard about
that.


There could be 1000 different bills in congress that never go anywhere. My feeling is that the ROTH will not go away but will get better. Your risk is that the goverment drops the income tax and goes to a sales tax.

Will that happen next year? No. 10 years from now? Probably not. When you are ready to retire? Maybe. Thats the risk of the ROTH so keep on making your contributions.



Print the post Back To Top
Author: TMFExRO Big red star, 1000 posts Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: 24377 of 76392
Subject: Re: Roth IRAs extinct?? Date: 8/26/2000 7:14 PM
Post New | Post Reply | Reply Later | Create Poll Report this Post | Recommend it!
Recommendations: 3
I have heard through the "grapevine" that the government probably won't allow Roth contributions very much longer and that there is even current legisation to do away with them.

As has already been noted, you can find a "pending" bill that will do just about anything to the Tax Code. You need worry about it only if it gets the attention of the Charman of the House Ways & Means or Senate Finance Committee.

Oddly enough, the current chairman of the Finance Committee is none other than the eponymous Mr. Roth (R-DE). There will be Roth IRAs as long as he draws breath, probably, and definitely as long as he chairs the committee. (He's up for re-election this year.)

TMF ExRO
Phil Marti

Print the post Back To Top
Author: Ringfinger Big gold star, 5000 posts Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: 24381 of 76392
Subject: Re: Roth IRAs extinct?? Date: 8/27/2000 1:17 PM
Post New | Post Reply | Reply Later | Create Poll Report this Post | Recommend it!
Recommendations: 0
I really wouldn't sweat it. There are probably bigger things uo their sleeves.

Print the post Back To Top
UnThreaded | Threaded | Whole Thread (4) | Ignore Thread Prev Thread | Next Thread
Advertisement