UnThreaded | Threaded | Whole Thread (35) | Ignore Thread Prev | Next
Author: TMFPixy Big gold star, 5000 posts Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 75340  
Subject: Re: Roth IRA Contriubtions & Conversions Date: 2/5/1998 10:10 AM
Post New | Post Reply | Reply Later | Create Poll . Report this Post | Recommend it!
Recommendations: 0
Vtaeger,

Good post!

<<The affect of a switch from income tax to consumption
tax affects traditional IRAs, ROTH IRAs and after tax
savings differently. Lets assume a switch to consumption
taxes with no increase in Government spending, so the
consumption tax replaces the income tax dollar for dollar.>>

Big assumption IMHO. While I see some kind of national VAT or sales tax, I don't see it standing alone. Far from it, in fact. I think our fearless leaders will implement some kind of consumption tax in conjunction with an insidious income tax (applicable only to the "rich" of course) at a lower rate than today's. In that case, my statement stands. ALL savings will be affected adversely, albeit at differing levels.

Regards….Pixy
Post New | Post Reply | Reply Later | Create Poll . Report this Post | Recommend it!
Print the post  
UnThreaded | Threaded | Whole Thread (35) | Ignore Thread Prev | Next

Announcements

The Retire Early Home Page
Discussion on accelerating retirement day.
Post of the Day:
Value Hounds

Medallion Financial: TAXI!
What was Your Dumbest Investment?
Share it with us -- and learn from others' stories of flubs.
When Life Gives You Lemons
We all have had hardships and made poor decisions. The important thing is how we respond and grow. Read the story of a Fool who started from nothing, and looks to gain everything.
Community Home
Speak Your Mind, Start Your Blog, Rate Your Stocks

Community Team Fools - who are those TMF's?
Contact Us
Contact Customer Service and other Fool departments here.
Work for Fools?
Winner of the Washingtonian great places to work, and "#1 Media Company to Work For" (BusinessInsider 2011)! Have access to all of TMF's online and email products for FREE, and be paid for your contributions to TMF! Click the link and start your Fool career.
Advertisement