Comments on: Roth IRA Rules

By: The Financial Blogger » Blog Archive » 29th Carnival of Pecuniary Delights - Money and Songs Edition

Thu, 22 Oct 2009 09:34:12 +0000

[...] Phil Taylor from PT Money presents Roth IRA Rules. [...]

By: Carnival of Pecuniary Delights — Almost Frugal- a frugal blog

Carnival of Pecuniary Delights — Almost Frugal- a frugal blog — Fri, 11 Sep 2009 04:03:51 +0000

[...] PT from PT Money presents Roth IRA Rules. [...]

By: Best Personal Financial Planning Articles | Personal Investment Management and Financial Planning Blog Directory

Fri, 04 Sep 2009 22:31:26 +0000

[...] presents Roth IRA Rules posted at Prime Time Money, saying, “The rules around the Roth [...]

By: Carnival of Pecuniary Delights #22 – UFC Edition | The Canadian Finance Blog

Thu, 03 Sep 2009 09:09:37 +0000

[...] PT Money from Prime Time Money presents Roth IRA Rules. [...]

By: J. Money

J. Money — Sat, 15 Aug 2009 17:19:57 +0000

It was named after a real “Roth”?! Haha that is awesome….that guy’s a baller. Good stuff my man, as always.

By: PT Money

PT Money — Thu, 13 Aug 2009 16:08:05 +0000

This article points at the middle class bias to the law: http://usgovinfo.about.com/library/weekly/aa101797.htm

By: PT

PT — Thu, 13 Aug 2009 15:57:14 +0000

@Mike “Do you have any idea why Congress saw fit to put this limitation in place?”

So that this would be seen as a tax break for the middle class, and not the rich. It’s progressive taxation. i.e. the rich make enough already, they can handle their own retirement needs without tax breaks.

My questions was somewhat rhetorical. If you poke around this blog enough you can see I’m not a fan of progressive taxation. It’s simply not fair. And I’m not even a rich guy.

This bill was passed back in 1997. Clinton had just won his second term, but the Republicans ran the Congress. I suspect the income limit was a Clinton administration injection in exchange for signing the thing.

By: Mike Dunham

Mike Dunham — Thu, 13 Aug 2009 15:49:07 +0000

“Do you think it’s a good idea to have income limits on Roth IRA contributions?”

I’m always hesitant to answer questions like this without knowing the policy reason for the limit. Do you have any idea why Congress saw fit to put this limitation in place?

To answer the question, though, since there is a limit to how much can be contributed, I would think there is no useful purpose served by disallowing higher-income households to take advantage of this.