3 ms·
Our system would make sense if it was the case that the literal only way to turn and asset into money was to sell it. But, because assets can instead be used as
by remich 3y ago
Our system would make sense if it was the case that the literal only way to turn and asset into money was to sell it. But, because assets can instead be used as collateral for loans, asset owners (overwhelmingly the wealthy in the U.S.) get to have their cake and eat it too.
- vmladenov 3y agoI’ve never understood this reasoning. Loans need to be repaid at some point, so one must realize some income to pay them back, at which point they will owe tax.