Word: iras
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Dates: during 1990-1999
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...While the Ulster Unionists, SDLP and Sinn Fein back the deal, minority Unionist parties and a splinter group of IRA gunmen have come out strongly against it. ?What we will not do... is engage in a process that ignores Britain?s centuries-old subjugation of the Irish nation,? read a statement from the Irish National Liberation Army. Which shows how difficult it will be to achieve the next goal on the road to peace -- the decommissioning of weapons...
Roth acknowledges that his popularity has been boosted by his IRA legislation, which lets you sock away $2,000 a year in after-tax money that then grows tax-free. "As I walk around Wilmington," he told me, "people yell from their cars, young and old, all backgrounds, 'Hey, Bill, love your IRA!'" But what's good for Roth and for Everyman isn't necessarily good for you. The Roth, as it's known, could stand improvement. For starters, there are ridiculous income limits. Couples earning more than $160,000 a year are ineligible, and if they earn...
Nevertheless, the overwhelming majority of Americans qualify--with no shenanigans. And for many, the Roth is a great deal. You pay no tax upon withdrawal. The old-style IRA, which allows you to put away before-tax money and pay tax upon withdrawal, remains useful. But restrictions cut most people out. Still, there's $1.3 trillion sitting in the things, thanks to years of 401(k) rollovers and initially generous IRA terms. Much of that should and will convert to new Roth accounts, and that is plainly what's behind the current Roth marketing blitz...
...fall for it blindly. When you convert, you must pay tax on the whole bundle. Converting makes sense if you have non-IRA funds to pay the tax and will stay in the same tax bracket or move to a higher one. It helps if you invest in stocks and have 10 years before you'll need the money. If that's you, convert this year while the taxman is running a Roth special: you get to spread the tax liability over four years. But if you're near retirement and lean toward bonds or CDs, converting...
...built highways and wired the world. Not to mention the peripherals these produced, such as sitcoms and cable channels, "800" numbers and Websites, shopping malls and leisure time, existentialism and modernism, Oprah and Imus. Initials spread like graffiti: NATO, IBM, ABM, UN, WPA, NBA, NFL, CIA, CNN, PLO, IPO, IRA, IMF, TGIF. And against all odds, we avoided blowing ourselves...