JayLeClay on Nostr: nostr:note1ahlh2vxathgk6ly6luytq9ey6yhqw4ayng3j0wnhupn47savp60sx3vzmq
quoting note1ahl…vzmqThis is workable, especially because the value of the asset being borrowed against would need to be valued correctly based on the lender’s underwriting. That’s a fairer and more actionable method than some assessor’s “opinion of value” which can be arrived at different ways and to varying degrees.
Just want to point out that the 1% is not who this should be aimed at. It’s the 0.1% and the 0.01% who mostly using these strategies. Put another way, it’s not something your average millionaire is doing. It’s the centi-millionaires and billionaires.
To put a fine point on it, we want *more* millionaires. I’ll take a thousand millionaires over 1 billionaire any day. Your average millionaire is someone who has built or runs a successful small business with 10-100 employees. We want a tax structure that incentivizes more of these. It’s better for both the employer and the employee… and the customer, actually.