• Gorilladrums@sh.itjust.works
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      1 year ago

      There are loopholes to help them out. For example, they could take out loans against their wealth, and do whatever they need that way. The money isn’t taxed, and the terms of these loans are usually very favorable towards the billionaires since their connections go deep.

    • Hexarei@programming.dev
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      1 year ago

      What I’ve seen is that they’re essentially taking loans against their stocks - The banks know you’re good for it, so they’re willing to lend you a ton at super low rates. Then you just pay interest forever and it’ll never catch up to the principal within your lifetime.