IRS records reveal how the wealthiest avoid income tax

Re:IRS records reveal how the wealthiest avoid income tax by drdec on Tuesday June 08, 2021 @10:37AM (#27435745)

You have $100M of stock in Berkshire Hathaway. You use use that as collateral to borrow $11M. You use $1M of the loan to pay expenses (including the interest on the loan). You invest the other $10M in Amazon.

A year later you have $11M in Amazon stock and $110M in Berkshire Hathaway. You borrow against the Amazon stock and use that to pay off the first loan. Lather, rinse, repeat.

The bankers are always happy. Why would they ever foreclose on you?

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Re:IRS records reveal how the wealthiest avoid income tax by dnissley on Tuesday June 08, 2021 @12:08PM (#27437030)

Because stocks don't always go up

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Re:IRS records reveal how the wealthiest avoid income tax by 34679 on Tuesday June 08, 2021 @12:39PM (#27437511)

When they go down to any significant degree, Congress steps in and socializes the losses.

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Re:IRS records reveal how the wealthiest avoid income tax by koheripbal on Tuesday June 08, 2021 @12:58PM (#27437749)

Individual stocks never go down?

Is this a serious comment?

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