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Non-Tech : Kirk's Market Thoughts -- Ignore unavailable to you. Want to Upgrade?

To: John Koligman who wrote (12329)	10/28/2021 2:08:56 PM
From: Kirk ©	Respond to of 26687

I think you are right. But it feels like he put in low cost stock valued well below its market value at the time otherwise why would he have put it in the ROTH? I agree too that we do need to fix the system but I don't like adding new taxes as then they just adjust the thresholds lower and lower until we're all paying. I started to write this before I read your whole post. They could get Thiel by changing the rules for ROTHs as I suggested earlier where they put a cap on how much success you can have and then require any gains above that to be taxed as normal income so you have to start taking money out or stop putting it in so you don't get taxed. I like their change. There used to be an income limit on how much you can put into a ROTH as it was not meant for high earners who already get a great deal with the capital gains tax rates. But I yelled "idiot" at my TV this morning when I heard the big one say something like the 50 largest corporations didn't pay any taxes on $40B of income. Idiot because his plan costs TRILLIONS and a 100% tax on $40B would only raise $0.04 TRILLION