https://www.forbes.com/sites/forbesfinancecouncil/2018/08/03/mitt-romneys-retirement-account-makes-case-for-roth-iras/#a859438215a1

Romney has millions in an IRA

If I'm understanding correctly he wasn't able to take advantage of the backdoor IRA, but it'd be foolish to think people with as much money as him or even more, wouldn't take advantage of it *now

did u read about Roth ira?

from ur article

Now suppose that Sandy repeats this process every year until she retires at 65, each year contributing the maximum amount to a traditional IRA, and then converting it to a Roth IRA. If Sandy can earn 7% per year – not an unreasonable amount for most appropriately invested pre-retirees with a plan – then by the time she reaches 65, she’d have contributed/converted $159,000 to her IRA/Roth IRA, and she’d have a little over $434,000 of tax-free money in her Roth IRA. That amount includes just over $275,000 of tax-free earnings

u want to tax the earnings of peoples savings that they have already paid income tax on.

ur sick buddy

Lmao, is that a fucking joke

Alex u noob

You're missing the whole point here

Shut up communist

I'm not saying they should be taxed, I'm saying that people will obviously convert their SEP IRAs and backdoor it to a roth IRA, keep the money in there, gain from stocks and bonds, and not pay the capital gains tax

The government already taxes the earnings of people's savings that they have already paid income tax on, that's called a traditional IRA. The government does not tax afterwards on Roth IRA withdrawals. The point of the backdoor IRA is to convert your traditional IRA into a Roth IRA.

So no I'm not "sick buddy," blame the Federal Tax Code for tax laws on traditional IRAs.

ur sick

u want to tax my grammas retirement

get help

Nice fucking rebuttal lmao, I just told you I don't.

GUTS I GOT ADMIN ABUSED

I GOT MUTES

FOR A DAY

You don't make any substantial points, all you do is express feelings and assume that I believe things that I just told you I don't.

**Do you see these messages?**

Yes, so?

So ur gae

I'm not a mod, why would I care?

Cuz ur gae

Not factual

Those messages not 4 u dip shit

So why don't you DM

I did dip shit

Then?

Then i sent it in this chat

Maybe nobody cares enough

And u existed

"...nobody cares enough" nice bro

Not wrong

lol