Comment on Borrowing money against their stuff to get more stuff to borrow money...

mechoman444@lemmy.world ⁨1⁩ ⁨week⁩ ago

Buy borrow die is a very real economic strategy.

Acquire assets, never sell them, use them as collateral for bank loans, use that capital as collateral for further bank loans. Never sell, no capital gains tax.

Bank loans aren’t considered income therefore not subject to being taxed.

Die rich, your kids inherit the money Scott free.

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