8 ms·
Because he feels that it's wrong that he made a lot of money doing something that other middle income earners could reasonably do, but now the ladder is getting
by seabird 5y ago
Because he feels that it's wrong that he made a lot of money doing something that other middle income earners could reasonably do, but now the ladder is getting pulled up behind him?
This is no skin off the back of the wealthy. They'll find another trick and life will go on. For those of them that actually care about "normal" Americans being able to do the same thing they did, it feels a little wrong that it requires an ever increasing amount moving parts and money to do what they did.
- mistrial9 5y ago> This is no skin off the back of the wealthy it is overly simplistic in USA - real people lose their "wealthy" status every day. You think a "wealthy" restaurant or bar owner is having a good day in 2021? this class-baiting comes from the previous century, and IMO detracts from real problems right now
- seabird 5y ago"Wealthy" in the context of most of the discussion surrounding this change are those with millions or billions in Roth IRAs. Those people's accountants will figure out a new strategy where they might have to pay a negligible amount in tax (if any at all). This change will be a few weeks of headache before it's largely forgotten. The only thing this will do for a struggling restaurant or bar owner in 2021 is ensure that they can't use money from their IRA to support their business. I don't entirely understand what you're construing as class baiting. You don't have to have any contempt for the incredibly wealthy to acknowledge that they're going to walk away from this with extremely minimal losses, while your average person with a Roth IRA account won't be able to use it for starting or supporting their own business.