▲ 2040 ▼ fair share? (discuss.tchncs.de) submitted 2 years ago by produnis@discuss.tchncs.de to c/leftymemes@lemmy.dbzer0.com 377 comments fedilink hide all child comments
[–] natryamar@lemm.ee 2 points 2 years ago (3 children) How do they have cash on hand to do stuff then? permalink fedilink source parent hideshow 6 child comments replies: [–] Gorilladrums@sh.itjust.works 8 points 2 years ago There are loopholes to help them out. For example, they could take out loans against their wealth, and do whatever they need that way. The money isn't taxed, and the terms of these loans are usually very favorable towards the billionaires since their connections go deep. permalink fedilink source parent [–] Hexarei@programming.dev 2 points 2 years ago What I've seen is that they're essentially taking loans against their stocks - The banks know you're good for it, so they're willing to lend you a ton at super low rates. Then you just pay interest forever and it'll never catch up to the principal within your lifetime. permalink fedilink source parent [–] rambling_lunatic@sh.itjust.works 1 point 2 years ago They do, just not that much of it when compared to their real wealth. permalink fedilink source parent
[–] Gorilladrums@sh.itjust.works 8 points 2 years ago There are loopholes to help them out. For example, they could take out loans against their wealth, and do whatever they need that way. The money isn't taxed, and the terms of these loans are usually very favorable towards the billionaires since their connections go deep. permalink fedilink source parent
[–] Hexarei@programming.dev 2 points 2 years ago What I've seen is that they're essentially taking loans against their stocks - The banks know you're good for it, so they're willing to lend you a ton at super low rates. Then you just pay interest forever and it'll never catch up to the principal within your lifetime. permalink fedilink source parent
[–] rambling_lunatic@sh.itjust.works 1 point 2 years ago They do, just not that much of it when compared to their real wealth. permalink fedilink source parent
