Saturday, December 13, 2003

Final Deposit in the Roth IRA

It's said that the two things you can't avoid in life are death and taxes, and after a career spent eliminating the latter, former Republican Senator William V. Roth, Jr. succumbed to the former, dying at 82. Having served Delaware for 34 years in the Senate and House, Roth reigns as the First State's foremost legislator, and made economic measures his hallmark, including a 1981 tax cut and the creation of the IRA that bears his name. He also took the Pentagon to task for wasteful spending in the 1980s, and brought such items as a $9,600 wrench and $640 toilet seat to light. He died at the house of his daughter, who now gets to pay the estate tax Roth had fought to eliminate.

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