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The biggest loophole they use is taking out loans and using stock as collateral. Stock is supposed to be unrealized so if it is used as part of ANY transaction it should instantly become taxable.
Then every 5 years or so, force everyone to "realize" their stock value for taxation
I feel like that just overcomplicates things. As long as they can't use the money, they're not causing harm, right?
If you want a more consistent stream of income, a wealth tax would make more sense.
But they are using the money. It's invested, it's supporting a profitable cause, driving an agenda
I've heard this before but don't understand how it works.... Eventually they'll need to pay it off, no? So they sell stocks to pay the loan?
Its a buy borrow die strategy. You take loans and refi them to be larger and larger until you die, when you do, the cost basis is reset (so if your cost basis was 1,000,000, but you investments are now worth 20,000,000, your cost basis becomes an untaxable 20,000,000) this new "stepped up" untaxable money (in investments) is used to pay off the debt by selling some assets, lets say 5,000,000 in debt covered by selling (untaxable) investments. This would be for someone with a handful of millions of dollars, I can only imagine what it is like for someone who has hundreds of billions in assets...