Thiel makes billions all tax free

[odanny]

He's a scammer, but he had tools available to him that the rest of us don't.

I know, fucking Clinton creating his Roth IRAs in 1997......bastard!!!

Shut up, stupid.

 

[Sunsettommy]

When he liquidates his assets and starts spending money it will be taxable. Good enough for me.

LOL, I think his remaining portion will still be over a couple Billion.........,

Yeah he is suffering........

 

[gipper]

When he liquidates his assets and starts spending money it will be taxable. Good enough for me.

LOL, I think his remaining portion will still be over a couple Billion.........,

Yeah he is suffering........

He will NOT be taxed when he spends the money in his Roth. That’s the whole point of a Roth. He figured some way to scam the system to avoid taxes. The wealthy are very good at this, with their legends of tax attorneys.

 

[Sunsettommy]

When he liquidates his assets and starts spending money it will be taxable. Good enough for me.

LOL, I think his remaining portion will still be over a couple Billion.........,

Yeah he is suffering........

He will NOT be taxed when he spends the money in his Roth. That’s the whole point of a Roth. He figured some way to scam the system to avoid taxes. The wealthy are very good at this, with their legends of tax attorneys.

Not when he SPENDS money, that is a SALES TAX that most states have and possibly a state tax as well.

Plus he wasn't wealthy at the time he did the financial activities, as he started with just $2,000

 

[Admiral Rockwell Tory]

When he liquidates his assets and starts spending money it will be taxable. Good enough for me.

LOL, I think his remaining portion will still be over a couple Billion.........,

Yeah he is suffering........

He will NOT be taxed when he spends the money in his Roth. That’s the whole point of a Roth. He figured some way to scam the system to avoid taxes. The wealthy are very good at this, with their legends of tax attorneys.

legends?

 

[gipper]

When he liquidates his assets and starts spending money it will be taxable. Good enough for me.

LOL, I think his remaining portion will still be over a couple Billion.........,

Yeah he is suffering........

He will NOT be taxed when he spends the money in his Roth. That’s the whole point of a Roth. He figured some way to scam the system to avoid taxes. The wealthy are very good at this, with their legends of tax attorneys.

Not when he SPENDS money, that is a SALES TAX that most states have and possibly a state tax as well.

Plus he wasn't wealthy at the time he did the financial activities, as he started with just $2,000

He made an enormous sum of money off the stock and paid $0 in income taxes, because he bought the stock inside a Roth IRA.

He will only pay sales taxes should he take funds from the Roth IRA and buy something subject to sales taxes.

 

[Admiral Rockwell Tory]

When he liquidates his assets and starts spending money it will be taxable. Good enough for me.

LOL, I think his remaining portion will still be over a couple Billion.........,

Yeah he is suffering........

He will NOT be taxed when he spends the money in his Roth. That’s the whole point of a Roth. He figured some way to scam the system to avoid taxes. The wealthy are very good at this, with their legends of tax attorneys.

Not when he SPENDS money, that is a SALES TAX that most states have and possibly a state tax as well.

Plus he wasn't wealthy at the time he did the financial activities, as he started with just $2,000

He made an enormous sum of money off the stock and paid $0 in income taxes, because he bought the stock inside a Roth IRA.

He will only pay sales taxes should he take funds from the Roth IRA and buy something subject to sales taxes.

So, start your own company, invest all of your Roth IRA into stocks, and see how you do!

 

[ESay]

Can anyone explain how this fund operates, in a nutshell? You give them some money and they invest them in stock market or something like that?

A Roth IRA is taxed before the income is deposited, what gains you make are not taxed. When you are eligible for withdrawal, you are not taxed.

Why? That is not logical. If you invested 100 bucks and got back 1000, you should pay income tax.

 

[Toddsterpatriot]

Can anyone explain how this fund operates, in a nutshell? You give them some money and they invest them in stock market or something like that?

A Roth IRA is taxed before the income is deposited, what gains you make are not taxed. When you are eligible for withdrawal, you are not taxed.

Why? That is not logical. If you invested 100 bucks and got back 1000, you should pay income tax.

What Is a Roth IRA?​

A Roth IRA is an individual retirement account (IRA) that allows qualified withdrawals on a tax-free basis provided certain conditions are satisfied. Established in 1997, it was named after William Roth, a former Delaware Senator.1


Roth IRAs are similar to traditional IRAs, with the biggest distinction between the two being how they’re taxed. Roth IRAs are funded with after-tax dollars; the contributions are not tax-deductible. But once you start withdrawing funds, the money is tax-free. Conversely, traditional IRA deposits are generally made with pretax dollars; you usually get a tax deduction on your contribution and pay income tax when you withdraw the money from the account during retirement.2


This and other key differences make Roth IRAs a better choice than traditional IRAs for some retirement savers.

Roth IRA: What It Is and How to Open One

A Roth IRA is a special individual retirement account (IRA) in which you pay taxes on contributions, and then all future withdrawals are tax-free.

www.investopedia.com

 

[ESay]

Can anyone explain how this fund operates, in a nutshell? You give them some money and they invest them in stock market or something like that?

A Roth IRA is taxed before the income is deposited, what gains you make are not taxed. When you are eligible for withdrawal, you are not taxed.

Why? That is not logical. If you invested 100 bucks and got back 1000, you should pay income tax.

What Is a Roth IRA?​

A Roth IRA is an individual retirement account (IRA) that allows qualified withdrawals on a tax-free basis provided certain conditions are satisfied. Established in 1997, it was named after William Roth, a former Delaware Senator.1


Roth IRAs are similar to traditional IRAs, with the biggest distinction between the two being how they’re taxed. Roth IRAs are funded with after-tax dollars; the contributions are not tax-deductible. But once you start withdrawing funds, the money is tax-free. Conversely, traditional IRA deposits are generally made with pretax dollars; you usually get a tax deduction on your contribution and pay income tax when you withdraw the money from the account during retirement.2


This and other key differences make Roth IRAs a better choice than traditional IRAs for some retirement savers.

Roth IRA: What It Is and How to Open One

A Roth IRA is a special individual retirement account (IRA) in which you pay taxes on contributions, and then all future withdrawals are tax-free.

www.investopedia.com

Yes, thanks. I already briefly read such information. But I don't get what means pre-tax and after-tax dollars in this case.

Okay, let's assume I earn 1000 dollars every month (that is net gains, I already paid taxes from my salary). And out of this money I want to invest 200 dollars in Roth IRA.

Will be this money considered as after-tax dollars and all my gains will be tax-free?

 

[Toddsterpatriot]

Can anyone explain how this fund operates, in a nutshell? You give them some money and they invest them in stock market or something like that?

A Roth IRA is taxed before the income is deposited, what gains you make are not taxed. When you are eligible for withdrawal, you are not taxed.

Why? That is not logical. If you invested 100 bucks and got back 1000, you should pay income tax.

What Is a Roth IRA?​

A Roth IRA is an individual retirement account (IRA) that allows qualified withdrawals on a tax-free basis provided certain conditions are satisfied. Established in 1997, it was named after William Roth, a former Delaware Senator.1


Roth IRAs are similar to traditional IRAs, with the biggest distinction between the two being how they’re taxed. Roth IRAs are funded with after-tax dollars; the contributions are not tax-deductible. But once you start withdrawing funds, the money is tax-free. Conversely, traditional IRA deposits are generally made with pretax dollars; you usually get a tax deduction on your contribution and pay income tax when you withdraw the money from the account during retirement.2


This and other key differences make Roth IRAs a better choice than traditional IRAs for some retirement savers.

Roth IRA: What It Is and How to Open One

A Roth IRA is a special individual retirement account (IRA) in which you pay taxes on contributions, and then all future withdrawals are tax-free.

www.investopedia.com

Yes, thanks. I already briefly read such information. But I don't get what means pre-tax and after-tax dollars in this case.

Okay, let's assume I earn 1000 dollars every month (that is net gains, I already paid taxes from my salary). And out of this money I want to invest 200 dollars in Roth IRA.

Will be this money considered as after-tax dollars and all my gains will be tax-free?

Will be this money considered as after-tax dollars and all my gains will be tax-free?

Yes.

 

[ESay]

Can anyone explain how this fund operates, in a nutshell? You give them some money and they invest them in stock market or something like that?

A Roth IRA is taxed before the income is deposited, what gains you make are not taxed. When you are eligible for withdrawal, you are not taxed.

Why? That is not logical. If you invested 100 bucks and got back 1000, you should pay income tax.

What Is a Roth IRA?​

A Roth IRA is an individual retirement account (IRA) that allows qualified withdrawals on a tax-free basis provided certain conditions are satisfied. Established in 1997, it was named after William Roth, a former Delaware Senator.1


Roth IRAs are similar to traditional IRAs, with the biggest distinction between the two being how they’re taxed. Roth IRAs are funded with after-tax dollars; the contributions are not tax-deductible. But once you start withdrawing funds, the money is tax-free. Conversely, traditional IRA deposits are generally made with pretax dollars; you usually get a tax deduction on your contribution and pay income tax when you withdraw the money from the account during retirement.2


This and other key differences make Roth IRAs a better choice than traditional IRAs for some retirement savers.

Roth IRA: What It Is and How to Open One

A Roth IRA is a special individual retirement account (IRA) in which you pay taxes on contributions, and then all future withdrawals are tax-free.

www.investopedia.com

Yes, thanks. I already briefly read such information. But I don't get what means pre-tax and after-tax dollars in this case.

Okay, let's assume I earn 1000 dollars every month (that is net gains, I already paid taxes from my salary). And out of this money I want to invest 200 dollars in Roth IRA.

Will be this money considered as after-tax dollars and all my gains will be tax-free?

Will be this money considered as after-tax dollars and all my gains will be tax-free?

Yes.

But that is illogical. If I earn an income out of my investments, then why I shouldn't pay an income tax?

 

[Toddsterpatriot]

Can anyone explain how this fund operates, in a nutshell? You give them some money and they invest them in stock market or something like that?

A Roth IRA is taxed before the income is deposited, what gains you make are not taxed. When you are eligible for withdrawal, you are not taxed.

Why? That is not logical. If you invested 100 bucks and got back 1000, you should pay income tax.

What Is a Roth IRA?​

A Roth IRA is an individual retirement account (IRA) that allows qualified withdrawals on a tax-free basis provided certain conditions are satisfied. Established in 1997, it was named after William Roth, a former Delaware Senator.1


Roth IRAs are similar to traditional IRAs, with the biggest distinction between the two being how they’re taxed. Roth IRAs are funded with after-tax dollars; the contributions are not tax-deductible. But once you start withdrawing funds, the money is tax-free. Conversely, traditional IRA deposits are generally made with pretax dollars; you usually get a tax deduction on your contribution and pay income tax when you withdraw the money from the account during retirement.2


This and other key differences make Roth IRAs a better choice than traditional IRAs for some retirement savers.

Roth IRA: What It Is and How to Open One

A Roth IRA is a special individual retirement account (IRA) in which you pay taxes on contributions, and then all future withdrawals are tax-free.

www.investopedia.com

Yes, thanks. I already briefly read such information. But I don't get what means pre-tax and after-tax dollars in this case.

Okay, let's assume I earn 1000 dollars every month (that is net gains, I already paid taxes from my salary). And out of this money I want to invest 200 dollars in Roth IRA.

Will be this money considered as after-tax dollars and all my gains will be tax-free?

Will be this money considered as after-tax dollars and all my gains will be tax-free?

Yes.

But that is illogical. If I earn an income out of my investments, then why I shouldn't pay an income tax?

The first IRAs gave you a write-off for the contribution, and then taxed your withdrawals.
Roth IRAs have after tax contributions and tax free withdrawals.
Why is either illogical?

 

[gipper]

Can anyone explain how this fund operates, in a nutshell? You give them some money and they invest them in stock market or something like that?

A Roth IRA is taxed before the income is deposited, what gains you make are not taxed. When you are eligible for withdrawal, you are not taxed.

Why? That is not logical. If you invested 100 bucks and got back 1000, you should pay income tax.

What Is a Roth IRA?​

A Roth IRA is an individual retirement account (IRA) that allows qualified withdrawals on a tax-free basis provided certain conditions are satisfied. Established in 1997, it was named after William Roth, a former Delaware Senator.1


Roth IRAs are similar to traditional IRAs, with the biggest distinction between the two being how they’re taxed. Roth IRAs are funded with after-tax dollars; the contributions are not tax-deductible. But once you start withdrawing funds, the money is tax-free. Conversely, traditional IRA deposits are generally made with pretax dollars; you usually get a tax deduction on your contribution and pay income tax when you withdraw the money from the account during retirement.2


This and other key differences make Roth IRAs a better choice than traditional IRAs for some retirement savers.

Roth IRA: What It Is and How to Open One

A Roth IRA is a special individual retirement account (IRA) in which you pay taxes on contributions, and then all future withdrawals are tax-free.

www.investopedia.com

Yes, thanks. I already briefly read such information. But I don't get what means pre-tax and after-tax dollars in this case.

Okay, let's assume I earn 1000 dollars every month (that is net gains, I already paid taxes from my salary). And out of this money I want to invest 200 dollars in Roth IRA.

Will be this money considered as after-tax dollars and all my gains will be tax-free?

Will be this money considered as after-tax dollars and all my gains will be tax-free?

Yes.

But that is illogical. If I earn an income out of my investments, then why I shouldn't pay an income tax?

The first IRAs gave you a write-off for the contribution, and then taxed your withdrawals.
Roth IRAs have after tax contributions and tax free withdrawals.
Why is either illogical?

Theil makes a profit of 5 billion dollars less his $2,000 initial investment, and pays zero tax. Parrot thinks that’s wonderful.

 

[CrusaderFrank]

Isn’t this just so nice? Buy stock within your Roth IRA and all the gains are tax free.

What a country!

How Peter Thiel turned $2,000 in a Roth IRA into $5,000,000,000​

Last Updated: June 24, 2021 at 3:22 p.m. ET
First Published: June 24, 2021 at 12:16 p.m. ET
By

Alessandra Malito​

His account jumped more than $3 billion in just three years, even though he didn’t contribute money to his Roth after 1999​

How Peter Thiel turned $2,000 in a Roth IRA into $5,000,000,000

he bought 1,700,000 shares of Paypay at .001 or something like that

 

[gipper]

Isn’t this just so nice? Buy stock within your Roth IRA and all the gains are tax free.

What a country!

How Peter Thiel turned $2,000 in a Roth IRA into $5,000,000,000​

Last Updated: June 24, 2021 at 3:22 p.m. ET
First Published: June 24, 2021 at 12:16 p.m. ET
By

Alessandra Malito​

His account jumped more than $3 billion in just three years, even though he didn’t contribute money to his Roth after 1999​

How Peter Thiel turned $2,000 in a Roth IRA into $5,000,000,000

he bought 1,700,000 shares of Paypay at .001 or something like that

Yes. Within a Roth IRA. Hence all the profit is tax free because his initial $2k investment was done with after tax money. WTF!

 

[CrusaderFrank]

Isn’t this just so nice? Buy stock within your Roth IRA and all the gains are tax free.

What a country!

How Peter Thiel turned $2,000 in a Roth IRA into $5,000,000,000​

Last Updated: June 24, 2021 at 3:22 p.m. ET
First Published: June 24, 2021 at 12:16 p.m. ET
By

Alessandra Malito​

His account jumped more than $3 billion in just three years, even though he didn’t contribute money to his Roth after 1999​

How Peter Thiel turned $2,000 in a Roth IRA into $5,000,000,000

he bought 1,700,000 shares of Paypay at .001 or something like that

Yes. Within a Roth IRA. Hence all the profit is tax free because his initial $2k investment was done with after tax money. WTF!

What difference does that make in your life?

 

[ESay]

Can anyone explain how this fund operates, in a nutshell? You give them some money and they invest them in stock market or something like that?

A Roth IRA is taxed before the income is deposited, what gains you make are not taxed. When you are eligible for withdrawal, you are not taxed.

Why? That is not logical. If you invested 100 bucks and got back 1000, you should pay income tax.

What Is a Roth IRA?​

A Roth IRA is an individual retirement account (IRA) that allows qualified withdrawals on a tax-free basis provided certain conditions are satisfied. Established in 1997, it was named after William Roth, a former Delaware Senator.1


Roth IRAs are similar to traditional IRAs, with the biggest distinction between the two being how they’re taxed. Roth IRAs are funded with after-tax dollars; the contributions are not tax-deductible. But once you start withdrawing funds, the money is tax-free. Conversely, traditional IRA deposits are generally made with pretax dollars; you usually get a tax deduction on your contribution and pay income tax when you withdraw the money from the account during retirement.2


This and other key differences make Roth IRAs a better choice than traditional IRAs for some retirement savers.

Roth IRA: What It Is and How to Open One

A Roth IRA is a special individual retirement account (IRA) in which you pay taxes on contributions, and then all future withdrawals are tax-free.

www.investopedia.com

Yes, thanks. I already briefly read such information. But I don't get what means pre-tax and after-tax dollars in this case.

Okay, let's assume I earn 1000 dollars every month (that is net gains, I already paid taxes from my salary). And out of this money I want to invest 200 dollars in Roth IRA.

Will be this money considered as after-tax dollars and all my gains will be tax-free?

Will be this money considered as after-tax dollars and all my gains will be tax-free?

Yes.

But that is illogical. If I earn an income out of my investments, then why I shouldn't pay an income tax?

The first IRAs gave you a write-off for the contribution, and then taxed your withdrawals.
Roth IRAs have after tax contributions and tax free withdrawals.
Why is either illogical?

Because I would get an income out of my Roth IRA investment. And this income should be taxed as some another income.

Frankly, I don't get the reason in dividing my income in pre-tax and after-tax gains. I get a salary, pay taxes out of it, spend some of it for investment, and pay taxes if I earn money out of my investment (pay taxes on my gains. That is, if I invest 200 dollars and gain 500 dollars, then I will pay taxes out of 300 dollars).

That is as simple as that and is a fair thing, isn't it?

 

[gipper]

Isn’t this just so nice? Buy stock within your Roth IRA and all the gains are tax free.

What a country!

How Peter Thiel turned $2,000 in a Roth IRA into $5,000,000,000​

Last Updated: June 24, 2021 at 3:22 p.m. ET
First Published: June 24, 2021 at 12:16 p.m. ET
By

Alessandra Malito​

His account jumped more than $3 billion in just three years, even though he didn’t contribute money to his Roth after 1999​

How Peter Thiel turned $2,000 in a Roth IRA into $5,000,000,000

he bought 1,700,000 shares of Paypay at .001 or something like that

Yes. Within a Roth IRA. Hence all the profit is tax free because his initial $2k investment was done with after tax money. WTF!

What difference does that make in your life?

None. However I despise injustice.

 

[Toddsterpatriot]

Theil makes a profit of 5 billion dollars less his $2,000 initial investment, and pays zero tax.

Yup.
That's how Roth IRAs work.

Don't you have one?