Fun fact: Elon Musk is worth more than all the new money planned for roads and bridges over 8 years in the bipartisan U.S. infrastructure plan.
New money for roads, bridges etc: ~$110B
Elon Musk net worth: >$311B
Elon Musk is worth more than General Motors + Ford + VW *combined*

• • •

Missing some Tweet in this thread? You can try to force a refresh
 

Keep Current with Steven Dennis

Steven Dennis Profile picture

Stay in touch and get notified when new unrolls are available from this author!

Read all threads

This Thread may be Removed Anytime!

PDF

Twitter may remove this content at anytime! Save it as PDF for later use!

Try unrolling a thread yourself!

how to unroll video
  1. Follow @ThreadReaderApp to mention us!

  2. From a Twitter thread mention us with a keyword "unroll"
@threadreaderapp unroll

Practice here first or read more on our help page!

More from @StevenTDennis

7 Nov
Some of the ways wealthy people shield their wealth are going untouched in the BBB bill so far: Never-realized gains, depreciation of appreciating real estate, 1031 provision that allows selling real estate without realizing gains, stepped-up basis at death, etc.
World's richest person is running a Twitter poll today on whether he should decide to realize some gains and therefore pay some taxes, or continue to not realize those gains and not pay taxes (which is perfectly legal under our system).
"Realize" is kind of a figurative term here, because billionaires can realize those gains in other ways by pledging a small portion of their wealth as collateral for low-interest loans for walking around money or for capital to start new companies.
Read 6 tweets
7 Nov
Let's break down the cost of the $550B Biden infrastructure combo platter bill in a way most anyone can understand. 1/
The $550B almost entirely gets appropriated over 5 years, though it takes a little longer for some of the money to actually leave federal coffers. But we are talking roughly $110B a year extra for five years. What does that mean? 2/
$110B a year is about 2% of the federal budget.
Maybe think of a 49-deck cruise ship and you added another deck, maybe.
A lot of money? YES.
A big deal. YES.
Changing the arc of the budget universe? Not really. 3/
Read 10 tweets
7 Nov
Starting off an epic #SaturdayNightZillow, a gorgeous California megamansion with this crazy room.

11K sf, a movie theater unlike any I've seen before, 6BR/7BA, a lot of quirky fun stuff and eye candy.

"Artistic masterpiece" $8.45M. Read on... 1/
zillow.com/homedetails/29…
This is a first for me in Zillow-watching: Beds in the theater room. "Impressive home theater and meditation sanctuary" per the listing. I'm guessing the crazy Escher-style room (or is it Dazzle camouflage?) leads to it. #SaturdayNightZillow
These big homes all seem to have party showers these days. #SaturdayNightZillow
Read 39 tweets
6 Nov
This is a *swimming pool.*

Otherwise just your standard New York megamansion. $7.5M. Solar panels.
#FridayNightZillow zillow.com/homedetails/55…
The rest of #FridayNightZillow will post tomorrow…
Estimated property taxes, btw, on the violin-shaped pool home are $147K a year, about double to House’s $80K state and local dedication cap.
Read 4 tweets
6 Nov
Many of you are too young to remember this but Pelosi also passed the Cap & Trade bill with GOP votes. A long time ago in a galaxy far, far away.
This is back when I covered the House for Roll Call.
What happened next? Cap & trade never saw the light of day in the Senate. Talks between Lindsey Graham and John Kerry collapsed. And then, a young Joe Manchin cut an *EPIC* campaign ad…
Read 5 tweets
4 Nov
Elizabeth Warren NOT yet sold on the SALT cap compromises that have been floated: She wants to make sure billionaires don’t benefit. Says they would be more appealing if paired w/Wyden’s Billionaire Income Tax.
One issue is billionaires can benefit from the House’s $72,500 cap…
And billionaires could even benefit if you have an income cap of about $400K floated by Sanders/Menendez. That’s because some billionaires are able to avoid having much/any adjusted gross income.
Read 7 tweets

Did Thread Reader help you today?

Support us! We are indie developers!


This site is made by just two indie developers on a laptop doing marketing, support and development! Read more about the story.

Become a Premium Member ($3/month or $30/year) and get exclusive features!

Become Premium

Too expensive? Make a small donation by buying us coffee ($5) or help with server cost ($10)

Donate via Paypal Become our Patreon

Thank you for your support!

Follow Us on Twitter!

:(