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   Information Is Beautiful (infobeautiful@vis.social)'s status on Thursday, 06-Mar-2025 06:54:51 JST Information Is Beautiful

   How rich people avoid paying tax

   (Originally by Instgram user @newmoney.blog)

   • Haelwenn /элвэн/ :triskell: and Doughnut Lollipop 【記録係】:blobfoxgooglymlem: like this.
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     Steve's Place (steter@mastodon.stevesworld.co)'s status on Thursday, 06-Mar-2025 06:54:50 JST Steve's Place

     in reply to

     @infobeautiful Exactly. It seems to me that what you'd want, in the No Tax option, is a loan at an APR of less than 25%. Repayment goes to the lender instead of the government. If you have enough collateral, as in the example, you should get a much better interest rate than the Less Tax option. The system is designed to help the wealthy avoid taxes. Option 3 benefits banks while bludgeoning governments.

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     LovesTha🥧 (lovestha@floss.social)'s status on Friday, 14-Mar-2025 17:52:25 JST LovesTha🥧

     in reply to

     • jmjm

     @jmjm @infobeautiful Sell enough shares to pay the (low, because it is a safe secured loan) interest, pay a little tax on that. This puts your effective tax rate at (interest rate * capital gains tax), which is *very* low.

     When you die your estate probably pays capital gains taxes, but you have probably set up some trusts to avoid that.

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     jmjm (jmjm@mstdn.social)'s status on Friday, 14-Mar-2025 17:52:26 JST jmjm

     in reply to

     @infobeautiful

     I've known about this for a while but a piece of the puzzle is missing for me: what's the endgame?

     What happens to the debt and collateral when the debtee dies? Is the debt called? Or does the whole arrangement transfer to the next generation?

     HistoPol (#HP) 🏴 🇺🇸 🏴 repeated this.