Oct 28, 2021
10:28:27am
10:28:27am
So billionaires get personal loans using their assets as collateral
with the intent to live off those loans. They do this so they don't have to pay income tax on it right? Where does the money come from to pay off the loans? They have to eventually sell a portion of their assets to pay off the debt right?
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Missed in this... how did Propublica get access to all that IRS information? (crack, Oct 28, 2021 at 11:34am)
This isn’t that complicated. If you hold or invest cash instead of paying off (hansel, Oct 28, 2021 at 11:12am)
Other Related Threads:
Reading these threads just re enforces the low level of business and finance IQ (kotacoug, Oct 28, 2021 at 3:39pm)
Messages
Time
10/28/21 10:46am
10/28/21 10:50am
10/28/21 10:53am
10/28/21 10:55am
10/28/21 10:58am
This is incorrect man. They can wait until they pass away, get a step in basis on their assets, and have all that growth
10/28/21 11:11am
10/28/21 11:56am
10/28/21 10:46am
They can let the debt run up forever and then have it paid for with assets that have stepped up in basis at their death.
10/28/21 10:39am
10/28/21 1:05pm
10/28/21 10:53am
10/28/21 10:55am
10/28/21 10:57am