Quote:
Originally Posted by KTP
OK everyone, I wasn't SUGGESTING that we tax Roth IRA accounts 
What I was doing was an indirect approach to try and get people to see that it isn't always right to tax someone extra because they have or make more money than you do.
In my other thread everyone seemed OK with the 5.4% additional tax levy proposal on people making more than 500k a year because it didn't have any negative effect on them. When I made this thread about the Roth IRA, you guys could relate to that, and have overwhelmingly said "No WAY!".
Are you starting to see my point in the other thread??? |
KTP,
Yep--I knew that was what you were up to.
I don't like additional tax levies, either. Folks seem to forget that the people making 500K are
already paying more in taxes. Even if the tax rate was the
same--say a straight 10% for example purposes, the 500K income would pay 50k in taxes vs the 50K income would pay 5k...And, as we all know the tax rate tables are
not linear.
I think AMT is another case of an additional levy and it is so convoluted, it is nearly impossible to figure out. (It would really tickle me if AMT would tax the
heck out of folks in congress... )
Just for the record: They are already doing income testing for SS. If you have saved and planned for your retirement and make a certain income, your SS is taxed. If you make a certain income, you will pay
more for your part B medicare.
Medicare Part B per person premiums 2010...