That does not seem like a US Government Plan at all....
What have I gotten wrong? If I knew I could put money tax-free into an account i would have been doing it all along, but my distrust of ANYTHING government prevented me from even looking at it.
If it IS true then I expect it is a bait-and-switch to sucker people into putting their life savings into an account that they will confiscate and spend (and leave you a ‘voucher’)
You KNOW they want to do that... They keep bring it up over and over again, so the fact they are even thinking about it concerns me. It is only a matter of time before they come up with a way they think they can sell to the sheeple
I do not think this phrase means what you think...
When you see the term "tax free" think "tax liable". You will be paying the tax at the future, higher rate.
There are two things that the government has promised me all my life: 1) tax cuts and 2) Middle East peace.
How are they doing?
A Roth IRA is funded with after tax dollars, not pretax.