Yarnstormer
Recycles dryer sheets
All the articles about super rich folks not paying taxes has me wondering - what loophole exists that they are using? I understand that stock gains are unrealized until sold (valid) and that they borrow money to live on instead of using theirs = no or low “income” on paper. (Brilliant)
I’m wondering about dividends tho. How do they avoid calling that income and taxes on it? Are they sheltered? Is it offset by the interest on the loans and the loan amount tweaked accordingly? Or are articles just not really telling the whole truth? I see they usually do pay *some* taxes.
Not gonna lie I’m wondering how I can play this game!
I do worry that all the articles about this will create a belief that investment gains “aren’t fair” etc and means testing in taxes will become a thing. If I want to hide billions under my mattress I think that’s my business.
I’m wondering about dividends tho. How do they avoid calling that income and taxes on it? Are they sheltered? Is it offset by the interest on the loans and the loan amount tweaked accordingly? Or are articles just not really telling the whole truth? I see they usually do pay *some* taxes.
Not gonna lie I’m wondering how I can play this game!
I do worry that all the articles about this will create a belief that investment gains “aren’t fair” etc and means testing in taxes will become a thing. If I want to hide billions under my mattress I think that’s my business.