@thegoodbitdaily: The Rich Person’s Tax Loophole Explained Steven Bartlett explains how wealthy people can borrow millions against shares without selling them, meaning they can access huge amounts of cash without triggering the same tax bill a sale would. David Friedberg argues this is one of the ways capital compounds faster for people who already have it. Borrow against assets, buy more assets, then repeat. His view is simple: if you borrow against stock to fund personal spending, that should be treated as a taxable event. 🎙️ Source: Top White House Advisor: The US Empire Is Declining And Socialism Is Coming Next! Guest: David Friedberg Via: @TheDiaryOfACEO 🧠 Composed and cut by Anjin.Media Independent editorial account. No affiliation with featured creators. #DavidFriedberg #StevenBartlett #DiaryOfACEO #Tax #Wealth

googledme :

tax borrowing is the answer

DevotedII :

It’s Not that simple. Loan interest at 5% soon costs more than the tax, and a share drop means a bank margin call, forced sale. Works far better in the US than UK

Jester :

Get rid of income tax, tax people’s assets simple really .

sove reign :

ai will expose their corruption

cyrilsneer :

Yeah, borrowing is always tax free, it’s exactly the same as a mortgage. Imagine being taxed on your mortgage advance 😂

Cookie Monster :

plus as the assets grow, the loan amount is eroded through inflation. so the loan becomes smaller over time. they keep refinancing till the loan is a minor expense compared to how much the asset has grown

Everything :

What banks do that? And operates in EU

Jak c :

There is interest charged on this loan

Truthsayer :

But you have to pay back the loan. To do that you would have to crystallise other assets - at which point tax is payable

RedNinja :

Why the world is broken

Steve :

Multiple millionaire here. I ve never been offered this.

user5765417742622 :

mcgill1526 :

24% global Sales tax on new products should fix it

hannahshepheard29 :

@thefractionalbd this is what you were talking about