Biden will go after your retirement accounts, and here's how it starts...

[odanny]

High earners, however, are prohibited from contributing directly to a Roth IRA if their modified adjusted gross income in 2022 is at least $144,000 ($214,000 if married).

But they can still create a Roth IRA through a so-called "backdoor" strategy that involves converting their other IRA savings.


That's from your article. Roth IRA aren't available to people who make over $144,000 a year.

What's the problem? Roth IRA is meant for the poor.

Founder of PayPal is notorious for evading taxes this way:

Roth IRA​

In 2021 it was revealed by ProPublica that Thiel had purchased 1.7 million founders shares in the entity that would become PayPal using a $1,700 Roth IRA in 1997. Due to the rapid growth in the value of the shares as PayPal grew and was later acquired by Ebay it allowed Thiel to turn his $1700 Roth IRA into an account worth more than $5 billion as of 2019. Most of this increase in the value of the Roth was due to him re-investing his Paypal winnings into companies like Palantir and Facebook which grew quickly after his investment. If Thiel waits till 2027 he can withdraw the entire $5 billion+ amount tax free.

Peter Thiel - Wikipedia

en.wikipedia.org

 

[SweetTea]

It's the alternate universe: Lie to the rubes, keep them angry, tithing and voting.

You don't even understand your own proposals so you most certainly aren't smart enough to know that it is in fact you that are being lied to.

Your still buying into that transitory inflation nonsense? You'll get it eventually, maybe.

 

[marvin martian]

I wouldn't bother with Marvin, he is as dumb as a bag of hammers.

If you had a nickel for every time I handed you your ass here, you wouldn't have to get paid by the DNC to post crap here all day.

 

[Mac1958]

You don't even understand your own proposals so you most certainly aren't smart enough to know that it is in fact you that are being lied to.

Your still buying into that transitory inflation nonsense? You'll get it eventually, maybe.

Never bought into it. Never pushed it.

You guys just lie and lie and lie.

Always a good sign.

 

[marvin martian]

Translation: mug the young to pay for the fact that politicians spent the "Trust Fund".

That's what establishment cultists like Mac1958 get paid to post here.

 

[Mac1958]

That's what establishment cultists like Mac1958 get paid to post here.

Yeah baby!

 

[SweetTea]

Inflation is already destroying savings

And it will continue to do so until/if we get someone in office that is not hell-bent on destroying the US economy.

 

[Mac1958]

Ol' Mac has the rubes melting down again.

 

[marvin martian]

Ol' Mac has the rubes melting down again.

You're the rube. Tell us about Build Back Better!

 

[SweetTea]

Never bought into it. Never pushed it.

You guys just lie and lie and lie.

Always a good sign.

Oh yes, you did buy it. Do I really have to go back through your posts to prove it? You have bought into the idea that the supply chain crisis is NOT in large part caused by a labor shortage and that the current inflation is transitory. You voted for the idiot traitor so at least own up to the fact that you are part of the problem.

 

[boedicca]

Then cut benefits. Or end Social Security. Run on that. Go ahead.

Or, just keep bitching.

They're already cutting SS with inflation and taxation.

We'd all be better off if our combined employer-employee SS taxes were put into self-directed retirement accounts.

 

[SweetTea]

You're the rube. Tell us about Build Back Better!

He loves it I'm sure, afterall, we can just raise taxes to pay for it. Simple.

 

[Mac1958]

Oh yes, you did buy it. Do I really have to go back through your posts to prove it? You have bought into the idea that the supply chain crisis is NOT in large part caused by a labor shortage and that the current inflation is transitory. You voted for the idiot traitor so at least own up to the fact that you are part of the problem.

Link?

 

[Mac1958]

They're already cutting SS with inflation and taxation.

We'd all be better off if our combined employer-employee SS taxes were put into self-directed retirement accounts.

I was asked a question, and I answered it.

If Trumpsters have a better idea, have at it.

 

[marvin martian]

He loves it I'm sure, afterall, we can just raise taxes to pay for it. Simple.

I'm sure Mac1958 completely bought Biden's lie that it "won't cost anything" to spend trillions of dollars.

 

[bendog]

So you’re the one that gets to decide how much money you will ALLOW people to have.

jihadists is right. The wealthy were saving just fine before 401K and Iras

 

[bendog]

Then cut benefits. Or end Social Security. Run on that. Go ahead.

Or, just keep bitching.

soc sec is not unsalvagable, no one since Obama has even tried.

Iras are a different animal. Some months back I read a piece on the amounts being "generation skipped" in Roths. It was unconsionable.

 

[TroglocratsRdumb]

You're the rube. Tell us about Build Back Better!

Build Back Better means build back the SWAMP better

 

[airplanemechanic]

Cut spending for a change.

Problem solved.

Aww more TDS.

You really should take something for that.

 

[Mac1958]

Aww more TDS.

You really should take something for that.

Aw, another Trumpster pretending the man he adores is irrelevant.

Always cute.