Robbery in progress

I wish I had the $10 million in a Roth IRA as targeted in the changes. I also wish I made $400,000 a year like targeted in the charges. But like 97% of Americans, I am neither.

Don't sell the thieves short, a toe in the door will eventually open it large enough to attack everyone. They did the same type stunts with taxes and SS.

10 million in a Roth IRA... Wow. Based on what I've seen in my own account it's amazing that's even possible.

If you maxed out your Roth IRA contributions every single year since they began in 1998, you would have like... ~$100k of investment.. so to get that to $10 million you would've had to invest it into a company, fund, or group of stocks, which have had a combined 100x rate of return! 100x in 23 years across multiple recessions seems like some pretty damn impressive investing!!

Maybe there is some loophole I'm not aware of though.

That is amazing.

A allows a larger donation. SEP IRA - A Simplified Employee Pension IRA is designed for small business owners with several employees and self-employed individuals. If you are eligible for a SEP IRA, you'll be able to set aside up to either 25% of your compensation or $58,000 in 2021, whichever is less.

There are rollovers allow, also, but I would think there must still be some backdoor method of contribution.