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So your argument is: the law is restrictive enough that poor people are going to stay poor, thus you can safely ignore the consequences for them and create addi

So your argument is: the law is restrictive enough that poor people are going to stay poor, thus you can safely ignore the consequences for them and create additional laws to restrict “rich” people. An extraordinary entitled and comfortable perspective shines through strongly here.

selykg 5y ago
Actually, what I'd like to see are better opportunities for low and middle class people. I'm very clearly middle class, I likely make less than virtually every software developer reading this. I am lucky though in that I live in a low cost of living area, and managed to find a house that allows me to afford to put money into retirement accounts. I also got by reasonably well with college student loan debt. I'm relatively privileged in the above ways. If I wasn't quite so lucky and set up for success I'd struggle a lot to afford to put money into retirement accounts. I think the rich should pay their fair fucking share of taxes. It helps society. This loophole they're trying to get rid of actually means that those who are far better off than the rest of us, who are using these loopholes to avoid taxes will have to pay more taxes. Seems like a real win for the low and middle class people here.
- the_optimist 5y ago
  This entirely fails to explain how 1) this a loophole 2) how this has disparate impact, and the sad punchline of your statement is “pay your fucking fair share” which you say to people who have saved and invested successfully, without regard to those who would hope to do so in the future. How exactly do you hope to create better opportunities for the low and middle income class? Here’s one idea: open up opportunities for them to invest in qualified accounts, like IRAs, silly.
  - selykg 5y ago
    I don't think you understand how this is being used as a tax loop hole. Please go read here: https://www.propublica.org/article/lord-of-the-roths-how-tech-mogul-peter-thiel-turned-a-retirement-account-for-the-middle-class-into-a-5-billion-dollar-tax-free-piggy-bank https://www.propublica.org/article/lord-of-the-roths-how-tec... This type of opportunity is NOT available for low to middle class families, never will be. It's simply being exploited by the rich. These families live paycheck to paycheck more often than not, they're not going to have the ability to invest shares of a company or real estate into their IRA. THey're more worried about paying their bills and the next paycheck. They don't have the extra income to make these kinds of investments. No, seriously, go read the fucking article and I think you'd understand instead of very clearly advocating for the rich like you are.
    - the_optimist 5y ago
      I understand this very well and have know this all well before pro publica showed up. It’s not a loophole. It’s a qualified retirement account. Ho-hum, big time. Find some great ways to enable low income people to become wealthy instead of whining about how they have to eat dirt.

selykg 5y ago

Actually, what I'd like to see are better opportunities for low and middle class people. I'm very clearly middle class, I likely make less than virtually every software developer reading this. I am lucky though in that I live in a low cost of living area, and managed to find a house that allows me to afford to put money into retirement accounts. I also got by reasonably well with college student loan debt. I'm relatively privileged in the above ways. If I wasn't quite so lucky and set up for success I'd struggle a lot to afford to put money into retirement accounts. I think the rich should pay their fair fucking share of taxes. It helps society. This loophole they're trying to get rid of actually means that those who are far better off than the rest of us, who are using these loopholes to avoid taxes will have to pay more taxes. Seems like a real win for the low and middle class people here.

the_optimist 5y ago
This entirely fails to explain how 1) this a loophole 2) how this has disparate impact, and the sad punchline of your statement is “pay your fucking fair share” which you say to people who have saved and invested successfully, without regard to those who would hope to do so in the future. How exactly do you hope to create better opportunities for the low and middle income class? Here’s one idea: open up opportunities for them to invest in qualified accounts, like IRAs, silly.
- selykg 5y ago
  I don't think you understand how this is being used as a tax loop hole. Please go read here: https://www.propublica.org/article/lord-of-the-roths-how-tech-mogul-peter-thiel-turned-a-retirement-account-for-the-middle-class-into-a-5-billion-dollar-tax-free-piggy-bank https://www.propublica.org/article/lord-of-the-roths-how-tec... This type of opportunity is NOT available for low to middle class families, never will be. It's simply being exploited by the rich. These families live paycheck to paycheck more often than not, they're not going to have the ability to invest shares of a company or real estate into their IRA. THey're more worried about paying their bills and the next paycheck. They don't have the extra income to make these kinds of investments. No, seriously, go read the fucking article and I think you'd understand instead of very clearly advocating for the rich like you are.
  - the_optimist 5y ago
    I understand this very well and have know this all well before pro publica showed up. It’s not a loophole. It’s a qualified retirement account. Ho-hum, big time. Find some great ways to enable low income people to become wealthy instead of whining about how they have to eat dirt.