I heard someone say the best thing they could do is offer their hand to those in need of a hand to grab on to, give support to those in need, to be the person I need others to be sometimes for me. Hugs
WASHINGTON – Today, Senator Ruben Gallego (D-AZ) introduced the Redistribution Of Billions by Instituting New High-income Obligations on Overlooked Debt (ROBINHOOD) Act to close the ‘borrow’ aspect of the ‘buy, borrow, die’ tax loophole that is used by the ultra-wealthy to finance extravagant spending without paying income or capital gains taxes.
“Working and middle-class Americans are paying their fair share – they do it with every paycheck. But the billionaires in this country? They’re using legal loopholes and tricky accounting to finance private jets and yachts while most Americans struggle to afford healthcare and groceries,” said Senator Gallego. “My legislation closes a critical loophole and brings us closer to billionaires finally paying their fair share.”
The ‘buy, borrow, die’ tax loophole has three stages:
Buy: A wealthy individual buys, or is given as part of their compensation package, assets, such as stocks. This allows them to store and grow their wealth without paying taxes since the gains from these assets are considered unrealized.
Borrow: The individual then borrowstax-free cash loans, often backed by those assets, to finance their extravagant lifestyles. All the while, their assets continue to gain value.
Die: Finally, when they die, their assets are gifted to their heirs on a stepped-up basis, meaning their heirs can sell the assets without paying taxes on the capital gains accumulated during the individual’s life.
The ROBINHOOD Act closes this loophole by treating taking out a loan as a realization event, meaning the individual would have to pay taxes on capital gains equal to the loan amount. The provisions of the bill apply to taxpayers who have an income over $100 million and/or assets worth more than $1 billion.
You can find a one-page summary of the legislation HERE.
You can find a section-by-section explainer of the legislation HERE.
You can find the full text of the legislation HERE.
Companion legislation was introduced in the House by Rep. Dan Goldman (NY-10).
“While working, wage-earning New Yorkers pay income taxes on every single paycheck, billionaires live tax-free by borrowing against their stock portfolios, real estate holdings, and art collections without paying a dime in taxes on that money,” Congressman Dan Goldman said. “By restoring basic fairness to our tax code and making the ultra-wealthy pay their fair share and contribute what they owe, this bill will generate revenue to invest in universal pre-K, child care, and working families instead of subsidizing billionaires’ yachts and private islands. It’s long past time for the wealthiest people in the country to pay their fair share.”
It is 4:34 pm here in my office. Today I was struggling. But before that I had written an email to Ali that I was doing so much better and wanted to tell everyone. I had to go out to get my morphines this morning so Ron could take Tupac to the vet. When I got home I did a few things. Then I started doing the dishes and laundry. But by 1:30 pm my pain became so bad I was in tears. I desperatly did not want to take more medications, I get set back on my getting better every time I have to do that just to function. The federal government is trying to force my pain doctors to lower my pain medications yet at my last virtual appointment my pain doctor noticed how much pain I was in and did not decrease my medications anymore saying she could justify giving me that which RFK Jr. the road kill harvaster wants to deny all of us in serious medical problems. Remember this guy was also a cocaine addict who talks about snorting drugs off toilet seats.
So when Ron Ron got home from mowing his sister’s lawn he found me limping and nearly in tears. He had me take my blood sugar and I was having an issue with low blood sugar which could explain why I was shivering. He had me take two glucose tablets and stop doing any more work. I had been doing dishes and folding clothing by using my very high rolling stool that I moved from kitchen to bedroom and back as needed.
Ron made supper and I want to let everyone know that even as I was in tears from pain I ate a lot of food for me. I had five slices of rare roast beef and three small baked potatoes with gravy and a small bowl of green beans. I took my evening insulin which I have not had to do a lot of as I was not eating. But Ron was concerned after I ate that I was still distressed. So I agreed to give up trying to make this post for the morning and just post what it is. I do have more to add to it but my pain is so bad that sitting in my desk chair is horrible for me. I will add them to the next day’s post.
I thank everyone who is worried about me and I love that everyone enjoys these cartoons / memes / news posts. But I did promise Ron I wouldn’t take more medication which will make me sick and eat into my meager supply and would go to bed. I will try to make a larger cartoons / memes / news post tomorrow. Best wishes, love, and hugs to all. Scottie
This is pure racism and entitlement. The boy put the bottles of water back. But even if he had not does stealing bottles of water rate or equate to a death penalty performed by a civilian? This is clearly an extra juditiacal killing. No judge or jury just a store owner and his son angry thinking a kid stole from them deciding to end his life. This automatic killing of Black people with no evidence has to stop. Black Lives Matter. Hugs
Gas station owner charged in shooting death of 14-year-oldRick Chow, 58, has been charged with murder after allegedly killing Cyrus Carmack-Belton in Columbia, South Carolina, on Sunday, police said.
The family of Cyrus Carmack-Belton expressed their indignation towards a South Carolina jury’s decision on Tuesday to acquit Chikei Rick Chow in the 2023 fatal shooting of the Black 14-year-old.
“Yesterday a jury watched our 14-year-old boy run away from two grown men on video. They knew one of them shot him in the back and they still said no one is to blame,” the family said in a statement first released to ABC News. “We are heartbroken. We do not accept it. Cyrus stole nothing. He was a child, and he was running for his life. Our son mattered.”
Chow, a 61-year-old store owner, shot the 14-year-old in the back outside of his Columbia, South Carolina, store in May 2023. He and his son were seen chasing Carmack-Belton outside of the store in video leading to the incident. Chow was charged with murder and denied bond multiple times before his acquittal.
An image of Cyrus Carmack-Belton is displayed in court during closing arguments in the murder trial against his shooter, Chikei Rick Chow, a convenience store owner accused in the 2023 fatal shooting of the 14-year-old, on June 1, 2026, in Columbia, S.C.
Erik Verduzco/AP Photo
Prosecutors alleged that Chow acted out of a false belief that Carmack-Belton had shoplifted four bottles of water from his store. The defense claimed that Chow acted to protect his son, after allegedly seeing Carmack-Belton point a gun at him.
“On behalf of the Chows, we’re very pleased at the jury’s deliberations and their verdict,” attorney Jack Swerling said in a statement to ABC News. “We think it was the appropriate verdict in this case, although it was a difficult decision to come to, because you have two different stories, two extreme differences.”
Video obtained by ABC News shows that Carmack-Belton returned the bottles of water in question and did not steal anything from the store. A 9mm pistol was found next to Carmack-Belton, with prosecutors saying it was in his possession during the chase, and it had fallen to the ground at some point.
In this June 1, 2023, file photo, mourners stop by a memorial to Cyrus Carmack-Belton, in Columbia, S.C.
Jeffrey Collins/AP, FILE
As the verdict was read in the courtroom, members of the Carmack-Belton family and the audience were seen breaking into sobs.
In their statement Tuesday, Carmack-Belton’s family drew a connection between their case and a larger history of violence against the Black community. “Black families have stood right here too many times — burying our children and then being told the law sees nothing. We feel every bit of that today,” the family said.
Troy Belton, center, father of Cyrus Carmack-Belton, reacts after a not guilty verdict against Chikei Rick Chow, a convenience store owner accused in the 2023 fatal shooting of his 14-year-old son, during a murder trial, on June 1, 2026, in Columbia, S.C.
Erik Verduzco/AP Photo
“To everyone hurting with us: honor Cyrus in peace. We will not stop. We’re taking this fight to civil court, and we will not rest until our son’s life is given the dignity this verdict denied him,” the family added.
According to family attorney Todd Rutherford, the family filed a civil lawsuit against Rick Chow in Richland County, which was put on hold until the conclusion of the criminal case.
Hello all, hope you’ll enjoy the upcoming Pride month content! This year, I’m planning to post comics every single day until the end of June. If you caught a glimpse at comment sections under recent strips, it has already pissed off thousands! It’s just the beginning.
It’s been a while since I gave you any life updates. My husband and I are still on the IVF train – it’s slow but steady. We are being crushed under the weight of debts because of it, but at least we got to keep our car after this spring’s threats, for those who wondered. Such is the price for growing our little queer family! At least we’ve got health.
I’m still trying to make a living from my art. I believe covering the internet with queer and trans comics and making bigots foam at the mouth is an important job, and you can help make it happen by getting me a coffee or by subscribing on Patreon. Every bit makes a huge difference!
So I hope Pride month will be good to you all. Except the bigots.
I am sorry this is so late, I am doing better which I will write about tomorrow, as I have to sit at my allergist’s office. The problem with today is my pain which makes it hard for me to function or get things done. But I am stronger is what I want to assure people. Hugs
He is a veteran.
He speaks several languages.
He was a Rhodes Scholar.
He was a mayor.
He was the Secretary of Transportation.
If he runs (again) in 2028, he’ll have my vote.
Me when I am so tired. Hugs
Scottie's Playtime 