Peter Thiel turned a Roth IRA into a $5B tax-free piggy bank

Re:Peter Thiel turned a Roth IRA into a $5B tax-free piggy bank by 1-more on Thursday June 24, 2021 @05:50PM (#27624268)

> Again - this isn't a tax dodge. This is someone who used the law exactly as intended without any illegal or shady dealings and happened to be incredibly fortunate.

To quote Daniel Ellsberg: the scandal isn't that they're breaking the law, the scandal is that what they're doing is legal.

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Re:Peter Thiel turned a Roth IRA into a $5B tax-free piggy bank by rebelos on Thursday June 24, 2021 @08:26PM (#27625675)

This is by the far the most succinct way to debunk the OP's misguided thinking.

There is simply no way to argue that what Thiel et al have done was an intended use of the Roth IRA account. Any attempt to advance some form of that argument is jaw-droppingly disingenuous.

The easy fix here is to either cap the tax free gain (the cap could be as high as $1M and have the desired effect w/o hurting the people meant to benefit) OR revise the eligible asset definition.

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