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    Founding Member / Super Moderator Ratickle's Avatar
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    Real estate entrepreneur Grant Cardone has added fuel to the fiery debate around insider trading by lawmakers in Washington.

    Cardone, 66, singled out former house speaker Pelosi for amassing a reported $120 million fortune while earning a salary of $179,000, plus about $70,000 more when she was speaker of the house.

    “You can’t do the math on it,” he said on VladTV.

    While his math there is exaggerated on purpose, the point Cardone is hammering home remains valid: Pelosi has turned a not-too-crazy salary into a huge fortune.

    The real estate investor pulled out his phone and did the calculations on the spot.

    Cardone noted Pelosi is likely in a high income tax bracket. Assuming she files together with her venture capitalist husband Paul, he placed her in the highest federal tax bracket of 37% and suggested she pays at least 10% on top of that in California state income tax.
    Rounding Pelosi’s potential income taxes up to 50%, Cardone said the congresswoman would be left with around $89,000 a year, after tax.

    He then joked — by his math — she would need to be almost 1,500 years old to reach her current reported net worth of $120 million, based purely on her annual salary. And that’s only if she never spent a single penny (and worked every single day of her life for exactly the same salary).


    https://www.msn.com/en-us/money/savi...ae803abf&ei=37
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