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Gold/Mining/Energy : Big Dog's Boom Boom Room -- Ignore unavailable to you. Want to Upgrade?

To: maverick61 who wrote (150630)	5/5/2011 9:57:21 AM
From: kollmhn	1 Recommendation Read Replies (2) \| Respond to of 206322

"Sorry, there was no altruism in creating Roth IRAs. They were created to generate a temporary increase in revenue for the government by capturing taxes on conversions." Well, guess what? Roth conversions have been restricted to those making less than $100,000 per year (and the conversion amount was included in that limit). I think you've got your facts wrong. When they were created there was nothing to convert....ergo no new revenue. Perhaps, you're unaware that the income limit has been lifted entirely. This enables a whole new group of people to do a conversion and generate the income tax today that would not have been generated for years. That tax grab is occurring. And, it produces far more revenue now. Imagine the uproar over the mere suggestion of taxing a Roth that has already paid the full tax (and likely at higher rates due to one time large distribution). Yes, there is no accounting for what the "bozos" might try to do. Nothing is impossible but, one has only to weigh the risk of paying 35% today versus, maybe, 44-45% in less than two years by not converting. Remember that a Roth has no RMD and can continue to grow until your death. Furthermore, since I won't be taking any distribution during my lifetime, it's unlikely to face a tax.