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Author: SnootFool Two stars, 250 posts Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 76237  
Subject: Re: Roth IRA and a consumption tax Date: 6/3/1998 12:20 AM
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Tiggerto:
<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.>

Cindi:
<Thanks. You are probably right.>

Me:
You actually think your Uncle, in 2025 or whatever, would *refund* a portion of the taxes which you paid the IRS thirty years ago??? Have I got some prime real estate in Florida for you guys!! Or would you prefer the Brooklyn Bridge? ROFL! ;-)

Having said that, I don't think that a consumption tax is likely to replace the income tax simply because it would screw the poor & middle class and have the appearance of letting the country club set off the hook since progressivity would be gone. Not gonna happen. I'm putting my $$ where my (smart) mouth is, since I've converted my IRAs to a Roth already. We'll see who's right in 30 years or so.

Chris
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