Get Rich Education

After discussing the direction of rents, learn about an ominous new tax that’s proposed. SCOTUS and Congress are considering a tax on unrealized gains.  For example, if your gold or furniture appreciates from $5K to $8K, would you have to pay a tax on the $3K gain, even if you keep owning the gold or furniture? Tom Wheelwright from WealthAbility joins us to discuss this. Though this is considered a “wealth tax”, the middle class would have to pay it. The tax case being heard is called “Moore vs. United States”. We expect it to be decided this year.  Tom & I discuss how few people understand marginal income tax rates’ progressivity. The last dollar that you earn is taxed at your highest rate. The first dollar that you earn is taxed at your lowest rate. Timestamps: Factors Driving Rent Growth (00:02:45) Inflation, lack of inventory, expired rent freezes, shifting workforce, demand for single-family homes, high employment, barriers to homeownership. Promising Development in Multifamily Construction (00:05:33