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(That's why I have everything in my ROTH 401K and my ROTH IRA!)
This post is ironic. While you claim the taxation issue to be obvious, you smugly proclaim your hedge is the ROTH. Here's an obvious observation, even my car mechanic knows a ROTH is the swiss account of the 21th century working stiff. As such, do you REALLY believe the government is not going to summarily pull that rug under ya in a decades time? Borrowed time my friend, ROTH will be gone by the end of the '10s, and certainly by the time you reach retirement age. How's that for obvious...
The Federal Gov does not need your tax money. When will any of you learn? All they need to do is print treasury bonds and tax by inflation. That is what they are doing now. The only real debt is to Japan and China.
Printing money just encourages politicians to borrow more. Just look at Japan.
Letting the Bush and Obama tax cuts expire at the end of 2010 will reduce the funding shortfall by nearly a half trillion dollars.
Eliminate the tax deduction for contributions to retirement accounts would save another 120 billion dollars. Employer's matching contributions would be taxed. That would leave the Roth-type accounts as the only retirement accounts. Existing deductible accounts would be unaffected or converted to Roths at the owner's option.
The Federal Gov does not need your tax money. When will any of you learn? All they need to do is print treasury bonds and tax by inflation. That is what they are doing now. The only real debt is to Japan and China.
Location: We_tside PNW (Columbia Gorge) / CO / SA TX / Thailand
34,705 posts, read 58,031,425 times
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Quote:
Originally Posted by Chango
tax increases WILL start riots. But I don't see how the gov can get around it. Are those the "good times ahead" everyone talks about?
Not in the USA that I have come to know... The gov will put some 'Spin-doctor' on the media and the average, compliant, and not too informed American will go back into their induced trance.
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