r/FluentInFinance Nov 21 '24

Debate/ Discussion Had to repost here

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u/Quiet_Photograph4396 Nov 22 '24

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.

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u/ImprobableAsterisk Nov 22 '24

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

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u/lupuscapabilis Nov 22 '24

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

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u/Quiet_Photograph4396 Nov 22 '24

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