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Old 02-03-2012, 09:27 PM  
Taco John Taco John is offline
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Old 02-03-2013, 01:08 PM   #76
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Originally Posted by patteeu View Post
It doesn't matter whether listo takes full advantage or not. The point is that he doesn't have that option.
Why doesn't he have the option of a Roth IRA?
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Old 02-03-2013, 02:28 PM   #77
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Originally Posted by La literatura View Post
Yes it is true. If you put the $5500 each year into a Roth IRA for 40 years, you will have a nice little nest egg when you retire that isn't taxed. That doesn't take into account any additional savings you do on your own or employer savings.

Everyone has that option. Most people choose not to. Whose fault is that?
You're limited on how much you can put into an IRA. Therefore, it's not true that you can "still do all of that, even with an income tax".
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Old 02-03-2013, 03:11 PM   #78
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You're limited on how much you can put into an IRA. Therefore, it's not true that you can "still do all of that, even with an income tax".
So because you can only put $5500 free from tax into an IRA, you can't save a nest egg that isn't taxed after you withdraw it? Listopencil said the income tax prevents him from saving. Here's a method of saving that is actually promoted by the current tax laws. You haven't said anything that has supported his claim.
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Old 02-03-2013, 04:07 PM   #79
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Old 02-03-2013, 04:14 PM   #80
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Originally Posted by La literatura View Post
So because you can only put $5500 free from tax into an IRA, you can't save a nest egg that isn't taxed after you withdraw it? Listopencil said the income tax prevents him from saving. Here's a method of saving that is actually promoted by the current tax laws. You haven't said anything that has supported his claim.
The income tax limits your ability to defer taxes by saving. The consumption tax doesn't. It's as simple as that. If you thought listo was saying something for which your response was accurate, you misread him.
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Old 02-03-2013, 04:44 PM   #81
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Originally Posted by patteeu View Post
The income tax limits your ability to defer taxes by saving. The consumption tax doesn't. It's as simple as that. If you thought listo was saying something for which your response was accurate, you misread him.
Can you build up a nest egg by saving, even with an income tax?
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Old 02-03-2013, 05:13 PM   #82
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Originally Posted by patteeu View Post
The income tax limits your ability to defer taxes by saving. The consumption tax doesn't. It's as simple as that. If you thought listo was saying something for which your response was accurate, you misread him.
Yes, this is exactly what I was pointing out.
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Old 02-03-2013, 05:16 PM   #83
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Originally Posted by listopencil View Post
Yes, this is exactly what I was pointing out.
Nothing about responsible people saving up a nest egg, which you apparently can't do with an income tax?
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Old 02-03-2013, 05:20 PM   #84
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Nothing about responsible people saving up a nest egg, which you apparently can't do with an income tax?
Do you not understand the idea of a consumption tax as opposed to an income tax?
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Old 02-03-2013, 05:22 PM   #85
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Originally Posted by La literatura View Post
Can you build up a nest egg by saving, even with an income tax?
Not to the same extent that you can with a consumption tax, but sure, you can build up "a nest egg" no matter what tax system you have.
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Old 02-03-2013, 05:22 PM   #86
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Originally Posted by listopencil View Post
Do you not understand the idea of a consumption tax as opposed to an income tax?
Are you dodging my question?
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Old 02-03-2013, 05:24 PM   #87
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Are you dodging my question?
No, I'm wondering if you understand the difference.
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Old 02-03-2013, 05:24 PM   #88
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Not to the same extent that you can with a consumption tax, but sure, you can build up "a nest egg" no matter what tax system you have.
So, when I said that you can build up a nest egg and save money, even with an income tax, now you agree that that was correct?
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Old 02-03-2013, 05:26 PM   #89
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No, I'm wondering if you understand the difference.
I think so, but you can explain it to me in your own words if you want.
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Old 02-03-2013, 05:26 PM   #90
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Originally Posted by La literatura View Post
So, when I said that you can build up a nest egg and save money, even with an income tax, now you agree that that was correct?
When you said:

Quote:
Originally Posted by La literatura View Post
We can still do all of that, even with an income tax.
you were wrong.
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