Roth IRAs: A real 'fiscal Frankenstein'

As long as the proposed spending cuts remain merely crumbs on the plate of a massive spending pie, it's only a matter of time before the rules change not only for Roths but also other notable government sponsored retirement plans.

Headline: Roth IRAs: A real 'fiscal Frankenstein'

The day after Congress passed the new healthcare law, an opponent called it "a fiscal Frankenstein." In fact, those are fitting words for Roth individual retirement accounts, or IRAs. Roths drive up the federal deficit and cause other pain. They're great for holders but grim for America. It's time to retire them.

Retirement accounts were designed by Congress to spur saving by Americans for their golden years. Let's compare a Roth IRA to other accounts, such as traditional IRAs, 401(k)s or 403(b)s.

Source: latimes.com