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A comment on We are publishing the tax secrets of the .001%. Parent comment
1) pump up asset prices.
2) lower the rate at which you can borrow against unrealized gains to make avoiding taxes more attractive.
3) people use this savings to buy more assets. Repeat step 1. Virtuous cycle.
I can't go to a bank and get a loan against $1M in my 401k at 2% interest. But I know people with $50M+ that are doing this. It's absurd.
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1) pump up asset prices.
2) lower the rate at which you can borrow against unrealized gains to make avoiding taxes more attractive.
3) people use this savings to buy more assets. Repeat step 1. Virtuous cycle.
I can't go to a bank and get a loan against $1M in my 401k at 2% interest. But I know people with $50M+ that are doing this. It's absurd.