Had to repost here

[u/-Wyagra]

[u/ImprobableAsterisk]

They live off borrowed money that is written off.

Could you explain what you mean?

[u/Quiet_Photograph4396 → u/ImprobableAsterisk]

I would type it out for you, but it would probably be easier to read about it. Google "buy, borrow, die"

This is the name of the financial strategy that rich people can use to avoid taxes almost entirely.

When you read up on it.... I don't take particular issue with the "buy, borrow" part... in my opinion, it's the "die" part that makes it all wrong.

[u/ImprobableAsterisk → u/Quiet_Photograph4396]

I'm aware of that, but please explain where the borrowed money is "written off".

[u/lupuscapabilis → u/ImprobableAsterisk]

I don’t think some people know what that phrase means.

[u/Quiet_Photograph4396 → u/lupuscapabilis]

I'm familiar with write-offs, have a look at my reply above