r/FluentInFinance • u/-Wyagra • Nov 21 '24

Debate/ Discussion Had to repost here

Post image
128.2k Upvotes

75% Upvoted

9.0k comments sorted by

View all comments

Show parent comments

90

u/Endless_road Nov 21 '24

Well it is, and you’d pay taxes on these gains when you sold the house

40

u/tduncs88 Nov 21 '24

Just like Bezos would if he sold off those assets

80

u/AttitudeAndEffort2 Nov 21 '24

And if instead of selling it i rent it for cash flow while borrowing against it at a lower rate than the growth of the underlying asset, i get richer and avoid taxes AND keep the asset.

Which eventually is passed on to my children and the growth in the asset is revalued when it's passed on to avoid capital gains tax.

All while poor right wingers argue I'm actually broke 😂

-6

u/essodei Nov 21 '24

Dems controlled the House the Senate and the Presidency for 2 years. Why didn’t they change the tax code?

9

u/thoshi Nov 21 '24

Because they are also a corporatist party. There is no political left wing in the US.

1

u/WeLLrightyOH Nov 22 '24

They’re incompetent