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Reply to "Bill proposed to crack down on backdoor roth (and other loopholes) "
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[quote=Anonymous]Thiel essentially put a powerball lottery ticket in an IRA and it returned 10000x. It's not just luck because he knew he had very favorable odds, but there's still an enormous amount of luck involved. Others became jealous and since he was perceived to support Trump he became the perfect target. I'm all for capping IRAs - although I do think excess Roth balances should be distributed tax free, and excess traditional balances should enjoy long term capital gains rates where applicable. But the identity politics of the Thiel IRA policy really do bother me for some reason.[/quote]
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