Unleash the IRA Entrepreneurs

What if there were a way of jump-starting the U.S. economy that did not depend on government borrowing, on government spending, or reducing taxes?  A method that harkens back to the way this country was started and grown; by entrepreneurial spirit, hard work, and personal responsibility.  With corporate money sitting on the sidelines due to the unease of federal regulatory dynamics, this new growth of the economy lays at the feet of the individual. With the net worth of all citizens of the U.S. reduced by trillions of dollars in the last three years, you ask how that can be possible.  My answer lies in 401 and IRA plans.   Allow individuals the ability to use 25% of their own retirement money, up to $100,000, to start a new business (LLC, S Corp or Corp.), without tax or penalty obligations on the withdrawal of retirement savings.  This is not a loan that has to be paid back into the retirement plan, but a flat out distribution. What's the worst that...(Read Full Post)