I not an advocate of a wealth tax, but there was something brought up in the article that is very interesting and requires more discussion. If you own a billio

I not an advocate of a wealth tax, but there was something brought up in the article that is very interesting and requires more discussion. If you own a billion dollar in stock and you want to spend $8 million this year, let's assume long term capital gains and a cost basis of 0. You sell $10 million worth of shares and are taxed 20% federally, costing you $2 million in taxes. Giving you $8 million to spend. Or You get a credit line $8 million, against your stock, without selling it, at a 3% interest rate. I draw down the line of credit and pay $240k per year to the bank. Before the new mortgage interest deduction was capped, you could get a credit line against your house and deduct the interest, thereby potentially only paying a portion of the $240k, because you'd get about 1/3 back in deductions; let's say $160k. When tax professionals see that you could pay $2 million in taxes this year or $160k in interest per year, it becomes a no-brainer. It seems like the answer is to close that different or live with the loophole.