4 ms·
I'd disagree as due to the incredibly low amount of tax paid by the ultra wealthy it looks like CGT avoidance and Buy Borrow Die is a primary use case for borro
by altacc 2y ago
I'd disagree as due to the incredibly low amount of tax paid by the ultra wealthy it looks like CGT avoidance and Buy Borrow Die is a primary use case for borrowing against assets.
- amalgamationga 2y ago> the incredibly low amount of tax paid by the ultra wealthy According to IRS data, the top 1% of earners pay roughly 40% of all federal income taxes.
- qeternity 2y agoYou still have to pay interest. At 5% interest rates compounded after 4 years it’s cheaper to just pay CGT. The wealthy pay the vast majority of taxes. You might not think it’s enough, but let’s be realistic here. The biggest government expenditures don’t scale with someone’s wealth. So wealthy people aren’t consuming more government services yet they pay a much larger absolute sum.