Traditional IRA contributions can be tax deductible or partially tax deductible based on MAGI. In 2014, an individual with a MAGI of up to $70,000 is eligible for at least partial deductibility. There are no income limits on who can contribute to a traditional IRA.
When the water heater breaks / leaks whatever the pressure tank is going to loose pressure telling the pump to come on and the pump will run continually as it can not build pressure to shut it off.
One of the common calls that our plumbers get is an electric water heater that has turned off due to a circuit breaker tripping. There can be several reasons that water heaters will cause a breaker to trip. The most common is due to an electrical short either inside the water heater core wiring or inside one of the heating elements.