The Roth IRA Conspiracy
The Roth IRA Conspiracy
...it doesn’t take a genius to realize that the government does not think in the long term - at least where budgets are concerned. Roth contributions mean tax income now, and Roth conversions mean lots of tax income now. That tax income reduces the deficit today, which is exactly what you want to see before elections to make things look better than they are.
With a Roth IRA, the government is basically saying: “We know we’re running a huge deficit and that social security is in trouble that’s only going to get worse. But we’re willing to give up tax revenue that the next generation will need in order to make our numbers look better today, and maybe have some extra money to spend on important causes like seeking out weapons of mass destruction, disaster preparedness, fighting terrorism by listening in on everyone’s phone calls, and so forth.”
...it doesn’t take a genius to realize that the government does not think in the long term - at least where budgets are concerned. Roth contributions mean tax income now, and Roth conversions mean lots of tax income now. That tax income reduces the deficit today, which is exactly what you want to see before elections to make things look better than they are.
With a Roth IRA, the government is basically saying: “We know we’re running a huge deficit and that social security is in trouble that’s only going to get worse. But we’re willing to give up tax revenue that the next generation will need in order to make our numbers look better today, and maybe have some extra money to spend on important causes like seeking out weapons of mass destruction, disaster preparedness, fighting terrorism by listening in on everyone’s phone calls, and so forth.”