this post was submitted on 06 Jun 2026
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This is fucked up. Don't get me wrong.
But if you want to end this just start taxing loans.
That's literally the only form of income in this country that isn't taxable. Kind of nuts.
Seriously with tax loans there won't be billionaires in this country.
Tax general purpose loans , but only loans that use assets like stocks as collateral. Allow a grace amount so regular people can still take a loan when they need it without being punished.
Have you heard of the "borrow until you die" financial strategy? I'm thinking of trying it out...
This is actually exactly what I'm talking about in my original post. Buy borrowed die is a perfectly legal way of accumulating massive amounts of wealth and paying absolutely no tax
But then you get double taxed. You get taxed on the income you earn in order to pay off the loan, and you get taxed on the loan income itself. This isn't viable without some serious nuance. There are far easier ways to snuff out "buy borrow and die".
I agree and there should definitely be Nuance as to how loans are taxed if this ever happens and I'm sure they will I was just being expedient in my comment.