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> But you cannot seriously argue that capital owners "avoid contributing to the financing of our states and social systems". Sure we can. Peter Thiel managed t
by ceejayoz 11mo ago
> But you cannot seriously argue that capital owners "avoid contributing to the financing of our states and social systems".
Sure we can. Peter Thiel managed to put $5 billion in his Roth IRA.
https://www.propublica.org/article/billionaires-tax-avoidance-techniques-irs-files https://www.propublica.org/article/billionaires-tax-avoidanc...
"Using stock deals unavailable to most people, Thiel has taken a retirement account worth less than $2,000 in 1999 and spun it into a $5 billion windfall... What’s more, as long as Thiel waits to withdraw his money until April 2027, when he is six months shy of his 60th birthday, he will never have to pay a penny of tax on those billions."
- thethimble 11mo agoBut this strategy is also eligible to you. Nothing is stopping you from turning your Roth IRA into a multi billion tax free gain.
- ceejayoz 11mo ago"Using stock deals unavailable to most people" is the very first phrase I quoted.
- deleted 11mo ago[deleted]
- bcrosby95 11mo agoDamn, I knew when I picked "not billionaire" I would regret it.
- machomaster 11mo agoThis is because of badly organized incentives. What we should do is to implement a tax on poor people. This will make them understand that being poor is less profitable than being rich and they will be motivated to become rich.
- unethical_ban 11mo agoI choose to interpret this as satire.
- tenuousemphasis 11mo agoThere's nothing wrong with murder because you could also murder people.
- jimbokun 11mo agoYes! This is exactly the kind of thing I was looking for.
- Tangurena2 11mo agoWhen Romney was running for President, much was made about his $100M holdings in his IRA accounts. At that time, I was working for a company who sold software to report pension (and pension-like) benefits. So we all had to become pretty familiar with ERISA and EFAST and the retirement laws every time they changed. We even had more than one attorney and several CPAs working on our staff. When the attorney tried explaining how Romney moved $100M from Bain into his IRA accounts, we all saying things that were like "that can't be legal".