To: The United States House of Representatives
IRA Taxes
Stimulate the economy by allowing seniors to treat an IRA savings account like a Roth account because Roth accounts did not exist when most seniors enrolled in them. This will allow billions of do;;ars to flow into our economy..
Why is this important?
Seniors numbering in tens of millions have saved in IRA retirement accounts all their lives. Now I find that when I withdraw from an IRA account it is added to my social security income and I pay tax on both. I would not pay on social security otherwise. This was never the intent of an IRA account. Lets stimulate the economy and allow seniors to have a tax holiday from double taxation.