September 8, 2011
I, as many other senior citizens, have REITs in my IRA. At age 70 1/2, or earlier, we will be taxed on these holdings. Your action implies that you think it is right to change the rules in midstream. What you are attempting to do is double tax seniors. Question: Why is the SEC even getting involved with what should be an IRS matter involving tax revenues? The SEC has had a bad reputation since the early Bush administration and has increasingly favored large corporations over the individual citizens. This is more of the same favoritism. It's alright for big banks to leverage themselves to the sky and then be bailed out for being too big to fail, but, it's not OK to allow individual investors to maximize their investments in REITs.