well 1200/mo is not really that much now days especially if you live in NY/CA/FL
besides 1200 now is not going to be the same 1200 20+ years from because of inflation
you can read some interesting information about roth ira taxation here:
rothirarules.net/roth-ira-tax.htm
and here
rothirarules.net
Later!
Quote:
Originally Posted by KTP
I am curious if all of the people who responded positively to the proposed increase in taxes on people making 500,000/year (which is NOT me btw) would support a Roth IRA tax on people who have managed to save up a lot of money in their account?
Assume that a person gets 1200/month for SS. Do they *really* need the extra $4000 a month that a $1,000,000 Roth IRA could generate safely? Couldn't we help out a lot more people who didn't plan well enough or decided not to save during their working years by taxing these wealthy Roth IRA accounts and supplying these other poorer people with a good monthly income?
I mean, if it only affects a small number of people (those who established Roth IRA accounts and were thrifty enough to contribute to them each year) wouldn't that really be for the better benefit of society?
How many of you would support something like this?
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