It’s important to watch to see how politicians are becoming millionaires. The Speaker of the House pays well, but not enough for Nancy Pelosi to become a millionaire. So, how is she making so much money?
Well, her husband is trading stocks – and if he’s doing so with a bit of insider knowledge, it could explain why he’s so successful.
Members of Congress shouldn’t be trading stocks at all. And, there’s currently a ban to say that the spouses of Congressmen and women shouldn’t be dealing with stocks, either. There’s just one problem – Pelosi isn’t a big fan of this ban because it could hurt her financial status.
Let’s face it. In 33 years in Congress, Nancy and her husband Paul have become multimillionaires due to some of their stock trading practices. You don’t think that’s a happy coincidence, do you?
The net worth of Nancy and Paul Pelosi is estimated between $46 million and $120 million, depending on the source. They own a real estate and venture capital investment and consulting firm in San Francisco. That’s quite an impressive haul for someone when her congressional salary is only $193,400.
Now, there have been a few questionable things about how Paul Pelosi has traded over the years – including buying over $1 million of Tesla call options. A few weeks later, Biden announced that the federal automobile fleet would be replaced with electric vehicles.
Insider information? We’ll let you figure that out…
Pelosi has been extremely wishy-washy about banning stock trading by spouses of members of Congress. She was against it, then for it, and now she’s against it again – likely because she’s enjoying all of the money her husband is making from not having a ban in place.
The Ban Conflicted Trading Act is in place, which “prohibits a Member of Congress or certain congressional officers or employees from (1) purchasing or selling specified investments, (2) entering into a transaction that creates a net short position in a security, or (3) serving as an officer or member of any board of any for-profit entity.”
The House Democrats, who hold the majority in the caucus, have been debating about whether the Act should be extended to include family members.
If there’s a shining example as to why it should be extended, all you have to do is search the headlines over the past few decades regarding how Paul Pelosi has been so successful with his stock purchases.
When asked if she would support the ban to include Congressional spouses, her response is barely comprehensible. She talks about how she’s a “big believer” in the committees and how she’d want to see “certain criteria” regarding the changes. What this means is that she doesn’t want to commit to a particular answer. No matter what answer she gives, it will screw her over – so she’ll just answer with a bunch of nonsense.
The one thing she does end up repeating is “I do believe in the integrity of people in public service.” Yeah, that sounds like a cover-up for her lack of integrity since she’s become a millionaire as a result of her lacking integrity and even basic morals.
Oh, and let’s also point out that members of Congress don’t have to pay capital gains taxes upon the sale of appreciated securities. Why? Well, that’s a question every American would like to know. It’s just another way that the Democrats love to be hypocritical. Pelosi has no problem scooping up every tax break she can get, but she wouldn’t dare extend the same courtesy to others, such as Elon Musk.
The Ban Conflicted Trading Act absolutely should be extended to spouses and family members. Perhaps if Pelosi wasn’t so busy rolling around in her millions, she could actually help the American people who keep voting her into office.