Current Events > billionaires actually don't pay taxes

(+) Yeah! (+)

It's also possible for an institution that gave the loan to sell the stocks that were "given" as "collateral" untaxed in order to pay off the loan, circumventing the taxes that would be paid if they were sold instead of used for the loan.
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archedsoul posted...

And you still don't understand that they eventually have to be paid back. Like, do you think that they keep doing this and then the last one doesn't count and they got away with tax evasion

He doesn't even understand the difference between a line of credit and a loan. Income and net worth. And despite trolling all day about this, still cant answer how much bezos paid in taxes every other year.

But GameFAQs loves those f5s so why have the mods enforce their rules.

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Smashingpmkns posted...

It's also possible for an institution that gave the loan to sell the stocks that were "given" as "collateral" untaxed in order to pay off the loan, circumventing the taxes that would be paid if they were sold instead of used for the loan.

Except they would pay the tax on them if they were sold. Because that's how taxes work.

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archedsoul posted...

I don't understand what the point of having 150k after 3 loans is.

And you still don't understand that they eventually have to be paid back. Like, do you think that they keep doing this and then the last one doesn't count and they got away with tax evasion?

the point is this, stay with me please

1. the interest is less than the tax they would have to pay
2. the bank gladly gives the millions of dollars in loans because the interest collected is a percentage of millions which is alot to the bank, but again is way less than the tax they would pay to cash out the assets
3. they get to keep the assets while using the loaned money
4. the assets rise in value and they still own them despite being able to use the money worth in the assets
5. this allows them to secure another loan meaning they can pay off the other loan WITHOUT cashing out the assets

So they NEVER have to sell their stocks.

And when they die THEY DON'T PAY CAPITAL GAINS TAX ON THESE ASSETS.

read it again please

And when they die THEY DON'T PAY CAPITAL GAINS TAX ON THESE ASSETS.

From article:

Another way to ensure that large inheritances are taxed is to close the income tax loophole that lets wealthy people avoid capital gains taxes by holding their assets until they die. Their heirs then escape paying taxes on these gains. This would raise about $650 billion over 10 years. We should also end specialized trusts that allow families, such as the Waltons who own more than half of Walmart, to completely avoid paying estate and gift taxes

So you are wrong.
The loan having to be paid off like 50 years later DOES NOT mean eventually taxes see that money.

SevenTenths posted...

Except they would pay the tax on them if they were sold. Because that's how taxes work.

Dude he just told you that if the bank chooses that option they don't have to pay the tax on it.

Are you ok? Sleepy?
@SevenTenths

And I just told you that's not how it works mr I want to be taxed on my credit card limit.


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Alright, seems like TC is really grasping now.

Let me quickly address this.

I already brought up the inheritance thing and said it's fucked up. However, you don't pay no capital gains tax nor do you get away with not paying the loan back, nor is the collateral untaxed. If you owe money, that is settled to creditors before it's given to anybody and it's taxed. No, the bank can't just sell the collateral and it becomes untaxed. You still owe.

Taking a loan and then using that to pay for the next loan doesn't really achieve much. Actually, they pay some interest. It's not some crazy gotcha they have going on.

Anything else?

That all screams you really have no idea wtf you're talking about.

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https://www.cbpp.org/research/federal-tax/substantial-income-of-wealthy-households-escapes-annual-taxation-or-enjoys

And, if a wealthy individual opts instead to pass on her appreciated assets to her son when she dies, neither she nor her son will ever owe capital gains tax on the assets growth in value during her lifetime. In contrast, people who earn their income from work (for example, from wages or salaries) typically have income and payroll taxes withheld from every paycheck; if their tax liability for the year exceeds those withheld taxes, they must pay the balance by the following April 15.

WingsOfGood posted...

https://www.cbpp.org/research/federal-tax/substantial-income-of-wealthy-households-escapes-annual-taxation-or-enjoys

Yes, what's your point? I already said the inheritance thing is fucked up 2 times now...

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archedsoul posted...

I already brought up the inheritance thing and said it's f***ed up. However, you don't pay no capital gains tax nor do you get away with not paying the loan back, nor is the collateral untaxed. If you owe money, that is settled to creditors before it's given to anybody and it's taxed. No, the bank can't just sell the collateral and it becomes untaxed. You still owe.

That is from an article bro.

https://americansfortaxfairness.org/tax-fairness-briefing-booklet/fact-sheet-taxing-wealthy-americans/

Another way to ensure that large inheritances are taxed is to close the income tax loophole that lets wealthy people avoid capital gains taxes by holding their assets until they die. Their heirs then escape paying taxes on these gains. This would raise about $650 billion over 10 years. We should also end specialized trusts that allow families, such as the Waltons who own more than half of Walmart, to completely avoid paying estate and gift taxes.

Close the Wall Street carried interest loophole. Wealthy private equity managers use a loophole to pay the lower 23.8% capital gains tax rate on the compensation they receive for managing other peoples money. We should close this loophole so that they pay the same rate as others at their income level who receive their compensation as salary. This would raise $17 billion over 10 years.

1. You keep the loan till you die
2. Debt is transferred but what does the article say?
3. They can pay off the loan with that wealth transfer that, what did they say?

Their heirs then escape paying taxes on these gains.

Ergo, the loan is paid off without having to dabble in captial gains tax and the hot potato cools off as it were.

archedsoul posted...

Yes, what's your point? I already said the inheritance thing is fucked up 2 times now...

He's also wrong on that, inherited shares are still taxed when sold because that is how capital gains tax works. But what else is new with him posting false information

https://finance.zacks.com/inherited-stock-become-taxable-6489.html

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@archedsoul

https://moguldom.com/357660/fact-check-wealthy-people-never-sell-their-assets-they-borrow-and-avoid-capital-gains-tax/

In short, the wealthy dont sell their stocks, bonds and real estate if they need cash. Instead, they just borrow from their private bankers or brokerage. They can build their wealth without taxes, while accessing the cash they need with relatively low interest loans.

Take billionaire Facebook founder Mark Zuckerberg for example. In 2012, Zuckerberg refinanced his Palo Alto home with a 1.05 percent adjustable mortgage, CNBC reported. The home cost $5.95 million at the time, which is chump change for Zuckerberg. But instead of buying it free and clear, he opted for a 30-year adjustable mortgage on the property, which was less than half the national average.

The reason: It costs him absolutely nothing, CNBC wrote. When you can borrow at an interest rate thats below the rate of inflation youre essentially borrowing for free, Greg McBride, a senior analyst at Bankrate.com. told CNBC. When you can borrow for free, theres no sense in tying up your own money, when you can use that money for more profitable things.

The caveat: These extremely low-interest rate mortgages are only available to super-wealthy people who are essentially no-risk borrowers. When Zuckerberg secured his 1% mortgage rate, the majority of Americans were paying 3% or higher.

jesus christ you guys could've gotten a number off of tinder or something and booked a summer date since i left this fucking topic and came back

come on man

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SevenTenths posted...

He's also wrong on that, inherited shares are still taxed when sold because that is how capital gains tax works. But what else is new with him posting false information

https://finance.zacks.com/inherited-stock-become-taxable-6489.html

This is hilarious.
You keep blabbing about me not knowing this stuff when you make the most basic of errors.

Capital gains are a tax on gains.

When you daddy dies and gives you the stock, you didn't gain anything.
You didn't pay a price and it went up.

Thus you can sell it without the gain tax.

But don't take my word for it:

https://www.investopedia.com/terms/i/inherited-stock.asp

As the name suggests, inherited stock refers to stock an individual obtains through an inheritance, after the original holder of the equity passes away. The increase in value of the stock, from the time the decedent purchased it until his or her death, does not get taxed. Therefore, the beneficiaries of the stock will only be liable for income on capital gains earned during their own lifetimes.

See, your problem is you WANT me to be wrong, without having any understanding of any of this.
So you went for a quick gotcha, took the first google link, thought it said something it didn't and tried to have it stick.

smh

WingsOfGood posted...

This is hilarious.
You keep blabbing about me not knowing this stuff when you make the most basic of errors.

SevenTenths posted...

He's also wrong on that, inherited shares are still taxed when sold because that is how capital gains tax works. But what else is new with him posting false information

https://finance.zacks.com/inherited-stock-become-taxable-6489.html

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WingsOfGood posted...

That is from an article bro.

https://americansfortaxfairness.org/tax-fairness-briefing-booklet/fact-sheet-taxing-wealthy-americans/

1. You keep the loan till you die
2. Debt is transferred but what does the article say?
3. They can pay off the loan with that wealth transfer that, what did they say?

Their heirs then escape paying taxes on these gains.

Ergo, the loan is paid off without having to dabble in captial gains tax and the hot potato cools off as it were.

Smh

That's not how that works. When you die, your debt is not passed on to your family. It's passed on to the estate, which pays the creditors and then the beneficiares are given what's left over.

If stock is sold to pay, it's taxed. Once you've personally inherited the stocks, the original cost basis is eliminated as I said like 30 posts ago, and the price on that day is the new cost basis. From there, the gain or loss is the difference between the new cost basis and sale price like SevenTruths said. Likewise, all ability to claim loss before death is gone for the person who inherited it

Also not sure why you tagged me for that link. When did we start discussing if rich people getting better interest rates?

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holy shit

you guys literally have articles telling you what you believe is wrong and refuse to budge

https://www.kiplinger.com/article/taxes/t052-c001-s003-the-tax-hit-on-inherited-stock.html

The cost basis for inherited stock is usually based on its value on the date of the original owners death, whether it has gained or lost value since he or she purchased it. If the stock is worth more than the purchase price, the value is stepped up to the value at death. For example, if your uncle purchased the stock for $1,000 and it was worth $30,000 when he died, and you then sell it for $32,000, youll be taxed only on a $2,000 gain. If the stock loses value after your uncle dies -- say, it drops to $27,000 -- then youll be able to deduct a $3,000 loss.
If the stock had lost value since the original owner purchased it, the basis is adjusted down to the value at death. That means you cant write off the loss that occurred while he was alive. Say he bought the stock for $1,000 but it was worth just $500 when he died. Your basis will be $500. If the stock is worth $1,200 when you sell it, youll be taxed on a $700 gain.
All inherited stock qualifies for the lower rates on long-term capital gains, no matter how long you hold it -- even if you hold it for less than a year after your uncles death. Losses on the sale of your stock can offset gains on the sale of other investments dollar for dollar. If the losses exceed all of your capital gains for the year, up to $3,000 of the excess loss can be deducted against other kinds of income.
In most cases, the cost basis is set as the stocks value on the date of the previous owners death, but sometimes the executor of a large estate who files an estate-tax return can choose to set the basis at the value six months after the owner died.

if my dad has a stock worth $5000 and dies

I sell it for $5000

I did not gain, so no captial gains tax

as article says

it was worth $30,000 when he died, and you then sell it for $32,000, youll be taxed only on a $2,000 gain

WingsOfGood posted...

holy shit

you guys literally have articles telling you what you believe is wrong and refuse to budge

https://www.kiplinger.com/article/taxes/t052-c001-s003-the-tax-hit-on-inherited-stock.html

if my dad has a stock worth $5000 and dies

I sell it for $5000

I did not gain, so no captial gains tax

as article says

That is literally all what I fucking just said. Lol, bro, you alright? Are you just flinging shit at the wall hoping something will stick?

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https://budgeting.thenest.com/inherited-stock-become-taxable-30650.html

If you live in one of the states that charges inheritance tax, your stock becomes taxable before it gets out of probate. Otherwise there's no taxable income when you inherit. The tax bill comes later. If your stock earns dividends or if you sell it for a profit, the IRS will expect a share.

Again, the stock has to GO UP.
It has to GAIN
GAIN value from when the person who owned it died to be captial GAINS taxed.

Elon Musk dies
His son gets stock worth $7000 a share

His son sells it for $7000 a share

TAX AVOIDED

No one is fucking denying that. Go back 40 posts and read what I wrote and maybe try understanding it.

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archedsoul posted...

That is literally all what I fucking just said. Lol, bro, you alright? Are you just flinging shit at the wall hoping something will stick?

Literally not what you said.

Again:

1. Die with a loan
2. inherit the asset of stock
3. sell stock without paying tax on stock
4. pay off loan with #3

Is this what you said? huh?

Because this is what all these articles are saying bro

archedsoul posted...

When did we start discussing if rich people getting better interest rates?

He changes subjects everytime he is caught being wrong. A common troll tactic.

Rather than be a sane and rational human being and go, the rich should pay more taxes and inheritance tax needs a.complete re-write he goes on nonsensical tangents after his hyperboles are easily disproven.

When he starts abusing the tag system is when you know you really got under his skin for actually being educated on whatever subject he feels like trolling about today.


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WingsOfGood posted...

Literally not what you said.

Again:

1. Die with a loan
2. inherit the asset of stock
3. sell stock without paying tax on stock
4. pay off loan with #3

Is this what you said? huh?

Because this is what all these articles are saying bro

No, the loan does NOT carry over and none of the articles are saying that. Do you have a reading issue?

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WingsOfGood posted...

So your argument is worthless as you are fine with taxing unrealized gains.

So what was your point then?

Pretty hard to profit as the wealthiest man in the whole fucking planet?
Seriously bro, why are you licking their boots?
What is your stake in this game?

Anyone who is okay with taxing unrealized gains has no fucking clue what they are. I'm poor as dirt. I still have a few thousand invested in the stock market (zero savings) and if I had to pay for unrealized gains, I'd have to file for bankruptcy.

SevenTenths posted...

He changes subjects everytime he is caught being wrong. A common troll tactic.

Rather than be a sane and rational human being and go, the rich should pay more taxes and inheritance tax needs a.complete re-write he goes on nonsensical tangents after his hyperboles are easily disproven.

When he starts abusing the tag system is when you know you really got under his skin for actually being educated on whatever subject he feels like trolling about today.

Yeah, that's what I figured. Just want to see how much he'll double down.

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WingsOfGood posted...

holy shit

you guys literally have articles telling you what you believe is wrong and refuse to budge

SevenTenths posted...

He's also wrong on that, inherited shares are still taxed when sold because that is how capital gains tax works. But what else is new with him posting false information

https://finance.zacks.com/inherited-stock-become-taxable-6489.html

WingsOfGood posted...

Die with a loan
inherit the asset of stock

Except if they die with the loan the bank collects the collateral and sells the stock and pays capital gains. Or the estate pays the loan, which again is taxed.

But you and posting false information as fact.

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archedsoul posted...

If stock is sold to pay, it's taxed.

WingsOfGood posted...

https://www.investopedia.com/terms/i/inherited-stock.asp

As the name suggests, inherited stock refers to stock an individual obtains through an inheritance, after the original holder of the equity passes away. The increase in value of the stock, from the time the decedent purchased it until his or her death, does not get taxed. Therefore, the beneficiaries of the stock will only be liable for income on capital gains earned during their own lifetimes.

The increase in value of the stock, from the time the decedent purchased it until his or her death, does not get taxed.

does not get taxed.

Beneficiaries don't inherit anything before creditors are paid. If the estate has to sell, it is taxed.

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University of Southern California tax law professor Edward McCaffery has summarized the entire arc with the catchphrase buy, borrow, die.

https://papers.ssrn.com/sol3/papers.cfm?abstract_id=3242314

All things must end, or so they say. As it happens, the tax-avoidance game begun by Buy and Borrow can go on forever.

The appreciated assets from Step One have what tax professionals call a built-in gain. Ant, for example again, has a tax basisin her Berkshire Hathaway stock of $1,000 from when she bought it in 1965. That stock is now worth $24,000,000. Ignoring the one year of dividends (Ant would have paid tax on her dividend, and this would have increased her basis), Ant has $23,999,000 of built-in gain: the difference between the stocks current value, $24 million, and its cost or basis, $1000.114

If and when Ant sells her stock, she will have to pay tax on that gain, almost certainly at capital gains rates.Except that Ant need never sell the stock. If she wants to have some pleasure, herself, she can borrow away, as just noted in Step Two.

If Ant holds her stock until her death, and then passes it along to her children, those little ants will get the stock income tax free, under Section 102 of the Internal Revenue Code (IRC) andwith a basis equal to fair market value, or $24,000,000, under Section 1014, the Angel of Death provision for stepped-up basis on death.115The little ants could sell the stock the day they get it, pay off their mothers debts, and start playing Tax Planning 101 themselves --all tax free. The careful reader will note that none of this means that Ants estate will pay an estate tax, because that tax is a netwealth tax, on assets minus liabilities. If Ant dies with $24 million in stock, and $14 million in debt --she got to have some fun, after all --there would be no estate tax under the current $11 million per person exemption. Similarly, if Ant borrowed 100% against her assets, there would be no inheritance --and no tax, either. In sum, Ant will have made $24,000,000 over a 52 year period from capital appreciation --over $460,000 per yearfor the entire period --shared between herself and her heirs, altogether tax free, forever.

I am sure you guys know more than this professor of the tax law? yes?

What did he say?

The little ants could sell the stock the day they get it, pay off their mothers debts, and start playing Tax Planning 101 themselves --all tax free.

The careful reader will note that none of this means that Ants estate will pay an estate tax, because that tax is a netwealth tax, on assets minus liabilities.

-University of Southern California tax law professor Edward McCaffery

to recap what the professor of law just said

1. Daddy can take out a bunch of loans to use as income
2. Daddy keeps his stocks which keeps going up
3. Daddy dies
4. Kids won't have to pay Capital Gains OR Estate Tax even when a loan is required to be paid off

CEman; NO YOU ARE WRONG THEY HAVE TO PAY TAXES!!!!

If Ant dies with $24 million in stock, and $14 million in debt --she got to have some fun, after all --there would be no estate tax under the current $11 million per person exemption.

24 - 14 = 10
10 < 11

CEman: b-b-but the estate will sell the stock and stuff and they have to pay captial gains!!!

The little ants could sell the stock the day they get it, pay off their mothers debts, and start playing Tax Planning 101 themselves --all tax free.

It appears the professor disagrees with you.
Maybe when they took out the loan they cosigned it with their kids. I really don't care the specifics, I just trust the actual expert.

ROOTFayth posted...

explain the results of the dog versus stranger kid thread then

LOL

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Maybe California does it differently, but I doubt it, because that is simply not how that works. When the person dies, especially a billionaire, there's a probate in court where they asses the will and liabities are paid first and then inheritance is passed.

You don't inherit and then pay because it's cleared before it's yours. Imagine inheriting a million and then being told that person owed $2 million.

Perhaps in this case, that person has enough cash to pay off the debt, leaving the stocks completely alone. In which case, the cash was already taxed, so no tax avoided for the loan, and as I said earlier, stepping up the cost basis for inherited stock is shitty as fuck regardless and needs to be changed.

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in retrospect

it seems most of CE doesn't really get this concept and cannot grasp how they actually avoid capital gains

I guess I should have lead with the professor of law's quote explaining how it worked and maybe there wouldn't be so many posts of users self reporting themselves saying "no you don't get it, I do!"

archedsoul posted...

because that is simply not how that works.

Again, you saying that is not how it works against a literal professor of law is nothing.

But to humor you:

1. Many times the person over the estate is actually person inheriting fyi
2. loans cosigned by a child would be the child's responsibility
3. I am not a law professor, but when the dude dies maybe it kicks in that valuation of stepping up as described in multiple articles before the executor sells to creditors.

archedsoul posted...

In which case, the cash was already taxed, so no tax avoided for the loan

This is not the scenario described by the professor. I know you really want to be right, I don't blame you, but sometimes you gotta take an L.
I mean, I wish the title of this thread wasn't real.

Now you can realize the one trolling is seventruths person.

This is unfortunate but they really get away without paying tax.

From a source you used yourself. Being an executor doesn't mean you've inherited it yet.

"After the inventory of the estate has been taken, the value of assets calculated, and debts paid off, the executor will then seek authorization from the court to distribute whatever is left of the estate to the beneficiaries."

https://www.investopedia.com/terms/p/probate.asp

Anybody reading the topic can see you've just been flinging shit for something to catch on to. You're all over the place and you're not fooling anyone.

I don't need to be right. I always love to be challenged and proven incorrect.

Like, I mean, I guess the cosigning thing is possible, in which case, I'd like to see some statistics on how common this is and how often it's happening if you don't mind.

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Archedsoul laying down the smack rn. Disinformation is horrible on either side, and you should be ashamed, TC

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WingsOfGood posted...

in retrospect

it seems most of CE doesn't really get this concept and cannot grasp how they actually avoid capital gains

I guess I should have lead with the professor of law's quote explaining how it worked and maybe there wouldn't be so many posts of users self reporting themselves saying "no you don't get it, I do!"

well since you know how all the loopholes and deductibles work, why don't you take advantage of it? like billionaires do, just on a smaller scale

also I find it a bit weird how you're basically hating on wealthy people NOT using any of their wealth for their entire lifetime lol, you're upset they're not using it meaning they have more of it to do things with but in the end they don't

Rolex watches generate around $5billion a year and dont pay taxes because they are technically a charity lol

ROOTFayth posted...

well since you know how all the loopholes and deductibles work, why don't you take advantage of it? like billionaires do, just on a smaller scale

also I find it a bit weird how you're basically hating on wealthy people NOT using any of their wealth for their entire lifetime lol, you're upset they're not using it meaning they have more of it to do things with but in the end they don't

You missed the part about them getting loans and interest rates normal people cannot get didn't you?

Of course you did.

Also, I would need assets more than the worth if a loan.

TC thinks borrowing money is free money. Lmao

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archedsoul posted...

From a source you used yourself. Being an executor doesn't mean you've inherited it yet.

"After the inventory of the estate has been taken, the value of assets calculated, and debts paid off, the executor will then seek authorization from the court to distribute whatever is left of the estate to the beneficiaries."

https://www.investopedia.com/terms/p/probate.asp

Anybody reading the topic can see you've just been flinging shit for something to catch on to. You're all over the place and you're not fooling anyone.

I don't need to be right. I always love to be challenged and proven incorrect.

Like, I mean, I guess the cosigning thing is possible, in which case, I'd like to see some statistics on how common this is and how often it's happening if you don't mind.

Where does this say the stock isn't stepped up yet?

My last point was that the law professor said you pay off mommies debt.

You were taken aback because a literal professor of law said you got it wrong.

So I was explaining a possible oversight you made.
I don't know if that is right because I am not a law professor. All I know is he said you pay off the debt of your mother untaxed.

So again, I am thinking the critical error being made is:

1. Mom dies
2. You are the executor
3. You as the ececutor have to pay off moms debt
4. Stocks already stepped up so executor of the state pays no capital gains when doing #3
5. You inherit what was not sold yet. You can sell this also untaxed.

That is one way to understand why the law professor said it works the way it does which you strangely are trying to disprove?
Kinda weird you know.

Squall28 posted...

TC thinks borrowing money is free money. Lmao

Compared to the taxes they would pay, the interest is basically free.

This is the dumbest topic TC has made so far and most his topics are bad to begin with.

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WingsOfGood posted...

You missed the part about them getting loans and interest rates normal people cannot get didn't you?

Of course you did.

Also, I would need assets more than the worth if a loan.

get assets that are worth more than the loan you need then?

WingsOfGood posted...

Compared to the taxes they would pay, the interest is basically free.

buddy even if theyd pay taxes everything is basically free for them, this isnt an argument

ROOTFayth posted...

get assets that are worth more than the loan you need then?

Lmao, dude you are seriously so upset that it is revealed what these dudes are doing you are like "why don't you become rich and do the same then!?!?! Othereise shut up and let them skirt taxes!!! Please don't let people know!!"

@pure_temper
What do you make of this?

University of Southern California tax law professor Edward McCaffery has summarized the entire arc with the catchphrase buy, borrow, die.

https://papers.ssrn.com/sol3/papers.cfm?abstract_id=3242314

All things must end, or so they say. As it happens, the tax-avoidance game begun by Buy and Borrow can go on forever.

The appreciated assets from Step One have what tax professionals call a built-in gain. Ant, for example again, has a tax basisin her Berkshire Hathaway stock of $1,000 from when she bought it in 1965. That stock is now worth $24,000,000. Ignoring the one year of dividends (Ant would have paid tax on her dividend, and this would have increased her basis), Ant has $23,999,000 of built-in gain: the difference between the stocks current value, $24 million, and its cost or basis, $1000.114

If and when Ant sells her stock, she will have to pay tax on that gain, almost certainly at capital gains rates.Except that Ant need never sell the stock. If she wants to have some pleasure, herself, she can borrow away, as just noted in Step Two.

If Ant holds her stock until her death, and then passes it along to her children, those little ants will get the stock income tax free, under Section 102 of the Internal Revenue Code (IRC) andwith a basis equal to fair market value, or $24,000,000, under Section 1014, the Angel of Death provision for stepped-up basis on death.115The little ants could sell the stock the day they get it, pay off their mothers debts, and start playing Tax Planning 101 themselves --all tax free. The careful reader will note that none of this means that Ants estate will pay an estate tax, because that tax is a netwealth tax, on assets minus liabilities. If Ant dies with $24 million in stock, and $14 million in debt --she got to have some fun, after all --there would be no estate tax under the current $11 million per person exemption. Similarly, if Ant borrowed 100% against her assets, there would be no inheritance --and no tax, either. In sum, Ant will have made $24,000,000 over a 52 year period from capital appreciation --over $460,000 per yearfor the entire period --shared between herself and her heirs, altogether tax free, forever.

WingsOfGood posted...

Lmao, dude you are seriously so upset that it is revealed what these dudes are doing you are like "why don't you become rich and do the same then!?!?! Othereise shut up and let them skirt taxes!!! Please don't let people know!!"

kind of a weak comeback dont you think?

I mean what youre complaining about is essentially rich people have an edge no shit they do, move to Cuba or North Korea, you wont have to worry about any of that there

ROOTFayth posted...

kind of a weak comeback dont you think?

I mean what youre complaining about is essentially rich people have an edge no shit they do, move to Cuba or North Korea, you wont have to worry about any of that there

Not paying taxes isn't an edge bro.

It is completely unfair at the expense of society.

WingsOfGood posted...

Not paying taxes isn't an edge bro.

It is completely unfair at the expense of society.

it allowed me to get an amazing service from amazon, Im good