Wednesday, July 11, 2012

How Much is in Your IRA?

Bet it's not as much as Willard has in his.

(Q)uestions have persisted for months about an individual retirement account held by the Romneys valued at upwards of $100 million — a stunning amount for a savings vehicle designed to provide middle class retirees comfortable, but non-lavish retirement.

I'm not hating on the rich here. And I'm really not even envious since I'm a man of simple tastes. Keep the caviar and I'll just have sardines and crackers please. But:

His IRA raises two key questions, both of which his campaign has consistently declined to answer: How, despite a $6000 legal limit on annual contributions to an IRA, did Romney’s IRA grow to over $100 million? And did he avoid any U.S. taxes on its enormous returns?

Just call me curious. It's only recently that the limit has gone up to $6000. I'm 55 years old and have been relatively diligent about funding my IRA and Willard has me by a thousandfold.

Anyway, if there is a God in Heaven and Romney loses in November he can always do the latenight TV infomercials and explain to us po'folk how to get as rich as he is. But then I'm lower income and not that edumacated:

"We've got the message," she added. "But my college kid, the baby sitters, the nails ladies -- everybody who's got the right to vote -- they don't understand what's going on. I just think if you're lower income -- one, you're not as educated, two, they don't understand how it works, they don't understand how the systems work, they don't understand the impact."

So, I'll probably never be able to say, “Is there a V.I.P. entrance? We are V.I.P.”

We'll always have gruel or maybe soylent green.

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