Nydra's Word

Neal Boortz reminded us yesterday how the Clinton's proposed a 15% across the board tax on 401Ks and IRAs when in office.

The Roth IRA was a replacement for that one time tax.

The point of the Clinton's one time tax was for government to get their greedy hands on pre-tax funds locked in IRAs and 401Ks. That goal was accomplished by introducing the Roth IRA.

People willingly took their money from their pre-tax funds and paid income tax probably double the 15% to put those funds into Roth IRAs.

The joke will be on them, however, when the Roth returns are taxed in the future. Social Security was never supposed to be taxed, either.

In my opinion, the additional taxes collected by the rush to Roths was the reason Clinton's administration seemed able to balance their budget.

I was a Fairtax supporter, Neal's solution, when the Republicans had control of Congress but not anymore. They blew it. Our greedy federal government will never repeal the income tax even with the Fairtax and we will end up with both. First during 'phase in' we will have both and the 'phase in' will never end. Republicans are just as greedy as the democrats.

We have a military industrial complex and a medical industrial complex who are ruling and ruining our economy. We must confront the idea of empire and get government out of health care, rather than debase our currency. Seniors and the disabled this year got a 2.3% increase for the cost of living. Slowly and stealthfully, DC is lowering promised benefits and not one candidate is promising to keep promises to those now dependent on the system except Ron Paul.