JayLeClay on Nostr: This is workable, especially because the value of the asset being borrowed against ...
This 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.
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.