After reading an article that briefly discussed the proposed Roth IRA annual cap limit to $5000, led by none other than Senator Roth himself, I believe we can only dream of being that lucky. The article (In the MoneyCentral tax workshop section) went on to guestimate than the $5000 limit might not make it pass the Prez's veto, but to look for a strong possibility of the limit being raised to $3000.Some may look at that amount as a slow start to equal the IRA limit to what it should be, I'll take an extra $1000, or 50% increase and day. It's better than nothing. Let's cross our fingers.Just wanted to bring up the subject.Rick
I'd love to see that increase. It's something that will definitely benefit the middle class a lot because let's face it, we can come up with an extra $1,000 and the super wealthy really won't care about that. Besides, if it's a Roth IRA, we already paid taxes on it, and if we make more than $30K, we lost the tax deduction anyway.
Best Of |
Favorites & Replies |
Start a New Board |
My Fool |