I mean I'd be perfectly okay with adding a third criteria to my list being something like "max holdings of $10m (tied to inflation) and returns higher than that are taxed as capital gains." That's enough to ensure a luxurious retirement. But I do think the other parts are helpful and would help reduce other avenues for abuse. The IRA was intended for lower and middle class people to build retirement investments. Also 1m seems low for the maximum. At least IMO.