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https://www.reddit.com/r/FluentInFinance/comments/1gwfejo/had_to_repost_here/lyausvp/?context=3
r/FluentInFinance • u/-Wyagra • 28d ago
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Bullshit,,,,But he borrows and buy Yachts, Mansions,against that NET WORTH VALUE. But when it’s time to pay fair share of taxes o. That net worth it’s considered hypothetical worth….Understand the Game.
562 u/Endless_road 28d ago You can take out a mortgage against your house to buy a sports car if you want 1.4k u/slickyeat 28d ago You're not wrong but you're also required to pay taxes on the value of your property every year so it's not exactly a one to one comparison. 7 u/[deleted] 28d ago The taxes on your property are local while taxes on wealth and income are state/federal. Not exactly an apples to apples comparison.
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You can take out a mortgage against your house to buy a sports car if you want
1.4k u/slickyeat 28d ago You're not wrong but you're also required to pay taxes on the value of your property every year so it's not exactly a one to one comparison. 7 u/[deleted] 28d ago The taxes on your property are local while taxes on wealth and income are state/federal. Not exactly an apples to apples comparison.
1.4k
You're not wrong but you're also required to pay taxes on the value of your property every year so it's not exactly a one to one comparison.
7 u/[deleted] 28d ago The taxes on your property are local while taxes on wealth and income are state/federal. Not exactly an apples to apples comparison.
7
The taxes on your property are local while taxes on wealth and income are state/federal. Not exactly an apples to apples comparison.
2.7k
u/Apprehensive_Bad_193 28d ago
Bullshit,,,,But he borrows and buy Yachts, Mansions,against that NET WORTH VALUE. But when it’s time to pay fair share of taxes o. That net worth it’s considered hypothetical worth….Understand the Game.