General Discussion
Related: Editorials & Other Articles, Issue Forums, Alliance Forums, Region ForumsA good indicator of something rotten is Romney's IRA....
...how do you have 1million dollars in an IRA?
This is a pretty good indicator of something smelling in Denmark.
dkf
(37,305 posts)Scuba
(53,475 posts)LeftofObama
(4,243 posts)which makes it even more suspect.
obxhead
(8,434 posts)Berlum
(7,044 posts)thelordofhell
(4,569 posts)Remember when they dragged Hillary through the mud for years for that........and yet this illegal shit just gets a passing yawn from the M$M
muntrv
(14,505 posts)and the most you can contribute is $5000/year.
http://en.wikipedia.org/wiki/Individual_retirement_account
"Individual retirement arrangements were introduced in 1974 with the enactment of the Employee Retirement Income Security Act (ERISA). Taxpayers could contribute up to $1,500 a year and reduce their taxable income by the amount of their contributions. Initially, ERISA restricted IRAs to workers who were not covered by a qualified employment-based retirement plan. In 1981, the Economic Recovery Tax Act (ERTA) allowed all taxpayers under the age of 70½ to contribute to an IRA, regardless of their coverage under a qualified plan. It also raised the maximum annual contribution to $2,000 and allowed participants to contribute $250 on behalf of a nonworking spouse. The Tax Reform Act of 1986 phased out the deduction for IRA contributions among higher-earning workers who are covered by an employment-based retirement plan. However, those earning above the amount that allowed deductible contributions could still make nondeductible contributions to their IRA. The maximum amount allowed as an IRA contribution was $1500 from 1975 to 1981, $2000 from 1982 to 2001, $3000 from 2002 to 2004, $4000 from 2004 to 2007, and $5000 from 2008 to 2010. Beginning in 2002, those over 50 could make an additional contribution called a "Catch-up Contribution."[2]"