Kirk's Market Thoughts Message Board

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Non-Tech : Kirk's Market Thoughts

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To: John Koligman who wrote (12317)	10/27/2021 8:20:04 PM
From: Kirk ©	Read Replies (2) of 26693

I believe Theil did something illegal in that he put "stock" into that ROTH that was not available to regular people. I use the rules to move stock into my ROTHs (and my girlfriend did it also) when the markets are down HUGE. The difference is we did it with publicly traded companies. Anyway, I think the purpose of the ROTH was to allow and encourage "regular folks" like engineers, accountants, middle managers, etc. the ability to save for retirement with money we already paid taxes on. A wealth tax isn't the way to fix this "flaw" that allowed someone to put in stock valued at a penny, and perhaps like the options scam, he was able to put it in at a lower value than the date he "purchased" the shares.... The way to fix it is to limit how much you can shelter with a ROTH... I'd be fine with something like $10M so one could take out 4% or $400K a year to live a great life on. Index that $10M to inflation and be done with it. Once you hit that number, you can not put more in AND you have to take out any money above that or some different threshold every year to eliminate compounding.

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