Those ELOC schemeshave been clamped down on _hard_ in the last decade to the point of not really being a thing anymore The real benefit to the rich is capital

Those ELOC schemeshave been clamped down on _hard_ in the last decade to the point of not really being a thing anymore The real benefit to the rich is capital gains rates are significantly lower than income tax rates in many places, so anyone who is paid via capital gains pays significantly less tax. The income tax over 150,000 in the UK is 45% plus 3% for national insurance, and capital gains is a flat 20% for someone on that income level.