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There is no loophole. The interest is taxed completely. So the government is probably making more with all the spending. No one is borrowing money to sit in an
by anon291 2y ago
There is no loophole. The interest is taxed completely. So the government is probably making more with all the spending. No one is borrowing money to sit in an account. They borrow to spend (immediately taxed as sales and also profit of the seller and interest)
- scoofy 2y agoThe loophole is the cost basis of the equity resetting — untaxed — at death.
- toomuchtodo 2y ago“Buy, Borrow, Die” https://www.dcfpi.org/all/how-wealthy-households-use-a-buy-borrow-die-strategy-to-avoid-taxes-on-their-growing-fortunes/ https://www.dcfpi.org/all/how-wealthy-households-use-a-buy-b...