What Peter Thiel's Roth IRA Means for Yours

[bucolic_frolic]

3. There always should have been limits on size of IRAs, but that's not what the GOP wanted

IRAs are a Republican policy. If you started one in 1982 they gave you a chart how your investment would grow over 40 years. Sometimes they'd give you a toaster for opening an account.

Roth IRAs were a worse idea, and they were made to suit Republicans. They created a whole class of greedy, professionals with overweaned Trust Fund Baby progeny. Financial planners make money, but these people are divorced from any real economy that actually produces output that people can use.

IRAs as a policy were sold as the future of Social Security, or an alternative complement to Social Security, in other words, to support working people (because you had to have income to open one) in old age. IRAs are now funding luxury for the Republican economic brackets, even if you're a Democrat.