4 ms·
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
by 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 agoI 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 agoI 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.