I don't know your individual situation and I'm not a financial advisor, so I'd recommend you consult with your tax professional.

That said, I do think tax rates are going up. I just can't see how they don't rise. Not only the individual rates, but I think more people will be paying at least "some" income tax. Our government continues to borrow hugely and sooner or later we, the taxpayers, will have to pay for their profligate spending.

I'm, as Clint Eastwood so eloquently put it, "on the back nine of life" and retirement planning gets a great deal of emphasis from me. The benefits of a Roth conversion are greatest for those whose tax rates are (relatively) low now and have many years for their Roth accounts to grow. I personally have a decent income and don't have that many years prior to mandatory retirement, yet I'm still going "all-in" on Roths.

As I write this Roth income is not "a tax preference item". What that means is it's not subject to the calculations involved in determining if you owe alternative minimum tax. Additionally, Roth income is not currently counted (as income) in retirement when determining what social security benefits are taxed.

Yet another benefit is one is not required to take minimum distributions from a Roth the way they are from 401K's and IRA's after age 70 1/2. So the benefit there is you can literally manage withdrawals from various income sources to minimize your tax bite.

There are also estate planning benefits that accrue to your heirs, but that gets complicated and somewhat convoluted.

Now the big risk is Congress could change the rules in the future and take away some, or even all, of these benefits. My "gut" feeling is they would most likely "grandfather" existing accounts (and their balances), but that's just my opinion.

No matter who you are I think you should take a hard look at a Roth conversion with the benefit of advice from a tax professional/financial advisor.