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Started By
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Can we discuss the legality of Roth IRA from a political standpoint?
Posted on 1/10/20 at 11:48 am
Posted on 1/10/20 at 11:48 am
The more I think about it, the more I question the ethics of this egregious manifestation of the law. Yes, it’s great that retirees are able to draw money without a federal tax, but can we all agree that having an account for only five years puts those who have saved for much longer at a disadvantage? How should that excuse an individual from withdrawal without taxation?
ETA: I’ll reserve judgement as obviously these responses are all trolls
ETA: I’ll reserve judgement as obviously these responses are all trolls
This post was edited on 1/10/20 at 2:44 pm
31
Posted on 1/10/20 at 11:49 am to lsudave1
Don’t you pay tax on the money you put in?
Posted on 1/10/20 at 11:49 am to lsudave1
Because they already paid taxes?
Posted on 1/10/20 at 11:51 am to lsudave1
quote:
The more I think about it, the more I question the ethics of this egregious manifestation of the law. Yes, it’s great that retirees are able to draw money without a federal tax, but can we all agree that having an account for only five years puts those who have saved for much longer at a disadvantage? How should that excuse an individual from withdrawal without taxation?
I don't understand what you are asking us to explain.
Posted on 1/10/20 at 11:52 am to lsudave1
quote:I'm hoping to be outraged alongside you. Please provide more details so I can get there. TIA.
The more I think about it, the more I question the ethics of this egregious manifestation of the law. Yes, it’s great that retirees are able to draw money without a federal tax, but can we all agree that having an account for only five years puts those who have saved for much longer at a disadvantage? How should that excuse an individual from withdrawal without taxation?
Posted on 1/10/20 at 11:52 am to lsudave1
:thatsnothowthisworks gif
Posted on 1/10/20 at 11:53 am to Big Scrub TX
He didn’t mention race so you don’t need to be outraged.
Posted on 1/10/20 at 11:53 am to lsudave1
quote:How? Someone who's had their account much longer will have had longer time span to accrue a return on their investment.
but can we all agree that having an account for only five years puts those who have saved for much longer at a disadvantage?
quote:Because they paid taxes on the money they put into a Roth. If they put it into a regular retirement account, they wouldn't have paid any tax on the contributions but would pay taxes once they start withdrawing money. Simple as pay now or pay later.
How should that excuse an individual from withdrawal without taxation?
Posted on 1/10/20 at 11:53 am to roadGator
quote:
Don’t you pay tax on the money you put in?
Yes. I guess the OP loves double taxation
Posted on 1/10/20 at 11:53 am to lsudave1
It's taxed as it goes in. Person is banking that tax in future will be less favorable than taxed now.
Traditional IRA exists where it's the reverse.
Traditional IRA exists where it's the reverse.
Posted on 1/10/20 at 11:55 am to Revelator
I thought I was missing something. OP seems a bit confused.
I wonder if he knows he can put money into his 409k after taxes.
I wonder if he knows he can put money into his 409k after taxes.
Posted on 1/10/20 at 11:56 am to RonLaFlamme
Perhaps you are just looking to be outraged, or just not so good at math.
Posted on 1/10/20 at 11:57 am to lsudave1
Already taxed....and it's your money, not the feds. Get over it.
You can draw early for first time home buyer, education or medical....IT'S YOUR MONEY!!!!
Please send me your retirement money if you don't want it.
You can draw early for first time home buyer, education or medical....IT'S YOUR MONEY!!!!
Please send me your retirement money if you don't want it.
Posted on 1/10/20 at 11:58 am to lsudave1
quote:
only five years puts those who have saved for much longer at a disadvantage
Public edumacation at work
Posted on 1/10/20 at 12:00 pm to roadGator
Right you can place money into your 409k after tax, but to what cost? I just don’t see how this is moral when the government hasn’t given opportunities to invest in companies with a larger economic footprint.
Posted on 1/10/20 at 12:01 pm to lsudave1
quote:
Right you can place money into your 409k after tax, but to what cost? I just don’t see how this is moral when the government hasn’t given opportunities to invest in companies with a larger economic footprint.
This sounds like gibberish, and I don't get to the point you're trying to make. You can use Roth IRA's to basically invest in whatever you want. I have friends who used it to buy gold, and I own Stock, Mutual Funds, and I think some Bonds using Roth.
This post was edited on 1/10/20 at 12:02 pm
Posted on 1/10/20 at 12:01 pm to lsudave1
What cost?
Tree fiddy?
Tree fiddy?
Posted on 1/10/20 at 12:01 pm to lsudave1
quote:
The more I think about it
found your problem
Posted on 1/10/20 at 12:02 pm to lsudave1
quote:
Right you can place money into your 409k after tax, but to what cost? I just don’t see how this is moral when the government hasn’t given opportunities to invest in companies with a larger economic footprint.
You are either an epic troll or an idiot of epic levels.
Posted on 1/10/20 at 12:06 pm to dakarx
You talking to me?
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