NBC News: Billionaire investor Peter Thiel has $5B in his tax-free retirement account, report finds

“It’s a wildly inappropriate use of the Roth IRA, even if it’s legal,” said Steve Wamhoff, the director of federal tax policy at the Institute on Taxation and Economic Policy and a former tax policy analyst for Sen. Bernie Sanders, I-Vt.

“Lawmakers said that they were trying to encourage retirement savings and make it easier for people to have a secure retirement, but what it’s actually doing in some cases is make the wealthy become wealthier,” Wamhoff said. Read more