Penalty on early distribution

[Guest tammyfranco]

What are the consequences (tax, penalty, etc.) on taking out 100% of my Roth IRA? I converted in 1998 and paid the first 1/4 taxes in 1999. I have earnings of approx. $20,000 from investing it in stocks. Are these earnings taxable? Is the 10% penalty on the principle or the whole amount (75k)? Is there any exemption for taking the money for business start up capital? And lastly, if I really need the money now, am I still crazy to take it out, considering all the penalties?