Don't forget that the "income" has to be earned. interest, dividend, rent income, .... are not earned income.
There might be a less-than-10% chance that those income are allowed for Roth contribution if Obama is elected. He said he would tax social security on any income. What is the chance that he would be elected? What is the chance that he would do what he said once he is elected? What is the chance those income would be accepted as earned income? Your guess is as good as mine.
Even if all these turn out to be reality, people with the tpye of income would not be winners. They have to pay the social security tax first. Obviously the rich are the biggest lossers. They have to pay social security tax on those income. They make too much to contribute to IRA.
There might be a less-than-10% chance that those income are allowed for Roth contribution if Obama is elected. He said he would tax social security on any income. What is the chance that he would be elected? What is the chance that he would do what he said once he is elected? What is the chance those income would be accepted as earned income? Your guess is as good as mine.
Even if all these turn out to be reality, people with the tpye of income would not be winners. They have to pay the social security tax first. Obviously the rich are the biggest lossers. They have to pay social security tax on those income. They make too much to contribute to IRA.
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