Quote:
Originally Posted by gtc
Is there really any threat of them changing the laws to tax income from a Roth IRA? I can see how people could be convinced to tolerate high taxes, but being taxed twice would literally have people up in arms, I think.
|
If I understand what was being said, I think he was talking about a radical change, like doing away with income tax and making a federal sales tax. If that happened, they could say "yes, you can withdraw all of your IRA and we won't tax it." But then when you go to the store to spend the money, they won't know or care where it came from, and they WILL tax it. At that point, depending upon which IRA it was, it would either be taxed once or twice.
But, maybe I didn't get what he was saying.
__________________
Steve
'08 Boxster RS60 Spyder #0099/1960
- never named a car before, but this is Charlotte.
'88 targa

SOLD 2004 - gone but not forgotten