Mega-rich Pelosi Objected to ‘Billionaire Tax’ in $1.75T Spending Bill

New York Post ^ | November 11, 2021 | Callie Patteson

[nickcarraway]

Guess this was one tax hike that hit too close to home for Nancy Pelosi.

The speaker of the House of Representatives — who is reportedly the sixth-wealthiest member of Congress at over $100 million — took issue late last month with plans by fellow Democrats to levy a tax on unrealized capital gains to help pay for President Biden’s massive $1.75 trillion social spending bill, according to a report.

The California Democrat reportedly described the wealth tax as “a publicity stunt.”

[simpson96]

How much longer with this one, O Lord, how much longer?

[fhayek]

How about a politican’s tax? Tax rate of 90% of everything that you make over your salary as a political ‘servant’.

[Steely Tom]

I was wondering whether this would be a concern for certain very wealthy politicians.

I think we can assume this information was leaked by some of the more “progressive” members of Madam Speaker’s party.

[jughandle]

Just exempt democrat politicians. Problem solved.

[Marko413]

I’m sure she and others will have loopholes around it.

[butlerweave]

Why don’t Politicians work for free if they love it so much spending their whole lives in DC ,LOL

[asinclair]

How about a claw-back provision on government pay for elected politicians and bureaucrats confirmed by the Senate to their positions? For every dollar of outside income, they have to give back twenty-five cents. That would apply to income reported for those filing jointly with their spouse; if they are filing separately, it applies only to the politician.

[griswold3]

You mean Nancy isn’t volunteering to donate her wealth to the government?

[wally_bert]

Minimum wage at most.

[Mr. N. Wolfe]

From the article:

“Last year, OpenSecrets listed Pelosi as the sixth-wealthiest person in Congress, behind then-Rep. Greg Gianforte (R-Mont.), Rep. Paul Mitchell (R-Mich.), Rep. Vernon Buchanan (R-Fla), Rep. Don Beyer (D-Va.) and Rep. Dean Phillips (D-Minn.).”

[Old Yeller]

I think I read where she is looking for a home in Florida, where there is no state income tax. Tells me she is looking to get out of con-gress.

[GrandJediMasterYoda]

Too bad this is never enforced.....

https://en.wikipedia.org/wiki/STOCK_Act

[frank ballenger]

$120 million net worth husband Paul and
$196 million net worth Nancy

Pillow talk at home:
Paul: Nan, sweetheart, isn’t there someone’s face you can grind into the concrete in DC to change their mind about this new rich people’s tax. Were kinda, sorta, in a way “rich” ourselves.

[frank ballenger]

This is all to make the gullible American people say “About time those billionaires are gonna pay a little tax. I heard they’ll pay for the new infrastructure and the other bill and we won’t have higher taxes. Some companies get by with no taxes. Biden has all that experience in Congress and he knows that stuff. So glad we voted for him.”

The billionaires and high end millionaires will NOT pay for this. Inflation, middle class taxes and hidden fees and taxes (what cannot be claimed, extra new costs as part of regulations and licensing and so on) will pay it all, along with people’s grandchildren from debt service.

This is all a scam to say “Oh, boy, let the rich pay it for us.”

[miserare]

Warning to Billionaire Nancy:

All your ice cream is belong to us! 🍦🍦🍦

[Gay State Conservative]

Next they'll be telling us that she's bought a beachfront mansion in Malibu.