903 karma · joined December 2, 2014
jeremy.joseph.klein@gmail.com
4d89c3
I am glad that you are finally speaking sensibly. /s
I would be very interested if you could find a way to provide me with a short term(net 30 days) low cost(<2%) margin loan. I wouldn't even really mind giving up some price execution (i.e payment for order flow) so you can make money.
We can't really help you if we end up losing all of your money... but our page looks way better than the alternative!
I am trying to wrap my head around these rules regarding IRA transactions. I’m certainly not trying to defend Thiel here. Would you mind pointing me to what in my comment lead you to that conclusion?
Also I would be shocked if there aren’t directors at publicly traded companies making under 208,000 and are filing jointly in a single income household.
I can understand adding legislation that would tax distributions on Roth IRA's for billionaires. Thiel would be fine if he had to pay taxes on that windfall.
I just think that it is a mischaracterization that he isn't paying his fair share of taxes. To me, it doesn't seem like he did anything wrong. He took advantage of a system that is accessible to everyone.
As I understand it, you can't own a company that you(or a relative) own a controlling interest in with your IRA. I can see the sense in this because if own 20% the person(people) who own the other 80% have an incentive to make sure I'm not playing any kind of games with the finances.
In the case of Thiel, it seems like he took $2000 and made a moonshot investment in Paypal. At that point his investment could have just as easily went to $0 as it was to hit $5 billion. He took the risk, why shouldn't he have gotten the reward?