Interesting article MATSUP. Worthy of discussion. The usual group of useful idiots has checked in so it's DR business as usual.

Will Congress Take Away Your IRA?

On the chopping block?
A recent amendment to a minor piece of legislation set off alarm bells within the retirement savings community. The proposed amendment would have changed the rules governing IRAs to force those who inherit them to cash them out more quickly than current law requires. In the end, the proposal never became part of the final law.

But as the recently proposed federal budget shows, the government is hungry for tax revenue, and one potential source comes from retirement accounts. Although some fears are overblown, others are much more likely to become reality -- and you may want to start planning for them sooner rather than later.

It's entirely possible that these inheritance laws could be changed to reflect the primary purpose of IRAs and 401(k)s as covering retirement expenses. Forcing accelerated withdrawals would pump more tax revenue into the federal system more quickly, producing the budget savings that Congress is searching for.

As often happens, though, some fear even bigger changes. A few sources have mentioned the possibility of taxing currently tax-free Roth IRAs, while others have even raised false conspiracy theories about IRAs being confiscated.

#10 | POSTED BY DAVE

When you are forced to cash out a inherited IRA come back here and tell us how worthless the article is. How do you type with you head all the way up there?