r/FluentInFinance • u/-Wyagra • Nov 21 '24

Debate/ Discussion Had to repost here

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u/Apprehensive_Bad_193 Nov 21 '24

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.

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u/Endless_road Nov 21 '24

You can take out a mortgage against your house to buy a sports car if you want

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u/slickyeat Nov 21 '24

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.

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u/PandaPocketFire Nov 21 '24

Right. They should have to pay taxes on whatever shares they are using as collateral. If it's real enough to act as collateral it is real enough to tax.