Very few people will ever have more than $3M

in their retirement accounts. most people aren’t saving enough as it is. To me, it is one more knee jerk reaction to a few that have managed to accumulate money in an IRA. Now, I have run some numbers and really can’t figure out how an IRA can grow to $100M without some serious compounding of 50% a year, but taxes will be paid on that IRA as soon as the person turns 70.5 and the taxes will be about $3M a year.
The AMT was designed over 30 rich people. Now it affects millions. The upper 1% will always be rich, have some advantages the rest of us don’t have, but the gov’t doesn’t have to keep creating rules because of 1% of 1%.