LogFAQs > #964563443

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Topic	Elon Musk purchases Twitter
Xeybozn 04/25/22 5:03:34 PM #32:	TotallyNotMI posted... Isn't his big talking point 'my net value isn't real money so I can't pay taxes on it'? But now he's going to pay $45 billion for this? Just making sure I'm understanding! He doesn't actually have the cash to buy Twitter. He'll borrow the money to pay for it. Loans don't count as income and thus can't be taxed. And that's how billionaires spend all their money without technically ever earning it. --- Congrats to 2020 GotD Guru champ azuarc! <cite>Xeybozn posted [p:964563443] in Elon Musk ... [t:79998586]...</cite> <quote>TotallyNotMI posted...</cite> <quote>Isn't his big talking point 'my net value isn't real money so I can't pay taxes on it'? But now he's going to pay $45 billion for this? Just making sure I'm understanding!</quote> He doesn't actually have the cash to buy Twitter. He'll borrow the money to pay for it. Loans don't count as income and thus can't be taxed. And that's how billionaires spend all their money without technically ever earning it. --- Congrats to 2020 GotD Guru champ azuarc!</quote> ... Copied to Clipboard!
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