IRA Bill

In response to your editorial “Is This Any Way to Treat a Saver?” (March 17):

Attention developers, bankers, real estate agents, home sellers, builders, contractors and communities: I have more than enough money to make a 20% down payment on the median-priced single family home anywhere in Southern California. The problem is the money is in my IRA, and as long as I am penalized for investing it in a first home for my family, I refuse to pay.

I see a “win-win situation” with the Bentsen-Roth IRA bill. I could purchase a home without being penalized, and all of you would benefit by having increased unit movement in the marketplace because I am not alone; there must be a huge number of people in this situation.

As I see it you have three options: 1. Mobilize your lobbying groups and push for the bill; 2. Continue to sit and wait for the economy to pick up while investment lags; 3. Negotiate with me on the penalty payment. If you pay, I’ll buy. Think it over.

STEVEN E. FERGUSON, Los Angeles