I think the parent is arguing that a Roth should be limited to some reasonable ceiling, e.g. $1M, $5M, etc.
> A Roth IRA rollover (or conversion) shifts money from a traditional IRA or 401(k) into a Roth. You can get around Roth IRA income limits by doing a rollover. You'll owe tax on any amount you convert, and it could be substantial.
Limiting the max amount would reduce near-term government tax revenue. So I don't think it would happen.
[1] https://www.investopedia.com/how-to-do-a-rothira-rollover-47....
If it came out this was someone they like and hold dear, there'd be no article. That's why this whole article is pathetic.
By Law of Large Numbers alone, we're almost guaranteed there's another person with another Roth IRA with another outcome almost just like Peter's... but we'll never hear about it because that person didn't vocally endorse Donald Trump for president, doesn't do blood transfusions with 18 year old donors for mesenchymal stem cells, and isn't a thorn in the progressive side.
I remember when I was young and maxed out my Roth, also converted a lot into it, and a tax accountant warned me that the government could change the rules so the gains are taxed. I thought, "no way, they couldn't do that!"
Now I see they very well could as a response to arguments such as yours.
I can't say I'm a fan of Thiel's business or writings however many of us rely on Roth remaining as-is. It already has limits. Thiel simply made good investments. We shouldn't punish that unless there was something like insider trading occurring. And that should not impact the existence of the Roth.