News for hackers. Stuff that matters.

A comment on Scott Adams: How to Tax the Rich. Parent comment

Re:Scott Adams: How to Tax the Rich by redthrowaway on Saturday January 29, 2011 @09:16PM (#2157128)
I'm not an expert, but I don't believe debt reduces your net worth. Irresponsible use of that debt does, but if I borrow $250k to buy a house, the value of that house offsets the debt. It's a wash in the end, is it not?
[ Parent | on HN ]
Re:Scott Adams: How to Tax the Rich by hugh3 on Saturday January 29, 2011 @10:57PM (#2157311)
Well obviously the grandparent should be read as "If my net wealth decreases over a year then should the fine give me money?"
[ Parent | on HN ]