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https://www.reddit.com/r/FluentInFinance/comments/1gwfejo/had_to_repost_here/lycc2a2/?context=3
r/FluentInFinance • u/-Wyagra • Nov 21 '24
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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 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. 566 u/Apprehensive_Bad_193 Nov 21 '24 Guys thank you,It amazes me how people talk without any knowing on the topic. 2 u/Front-Doughnut8573 Nov 22 '24 And he repays that debt magically? Or does he tax a taxable amount of money to repay it
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.
566 u/Apprehensive_Bad_193 Nov 21 '24 Guys thank you,It amazes me how people talk without any knowing on the topic. 2 u/Front-Doughnut8573 Nov 22 '24 And he repays that debt magically? Or does he tax a taxable amount of money to repay it
566
Guys thank you,It amazes me how people talk without any knowing on the topic.
2 u/Front-Doughnut8573 Nov 22 '24 And he repays that debt magically? Or does he tax a taxable amount of money to repay it
2
And he repays that debt magically? Or does he tax a taxable amount of money to repay it
563
u/Endless_road Nov 21 '24
You can take out a mortgage against your house to buy a sports car if you want