General Discussion

ProfessorGAC

(76,972 posts)

38. I Need To See Data...

Sun Apr 19, 2026, 11:42 AM

5 hrs ago

...on how prevalent that "borrowing against assets" thing really is.
A billionaire making 10.5% could still see a asset value increase of 8% while living off the other $25 million pretax.
Borrowing $25 million and paying 3.5% on that year over year is not an advantage over just living off $25 million in dividend money.
We see thus "borrow to live" thing regularly, but it seems it would only work if the entire portfolio is going up at a unusually high rate like the AI bros. And, there's just a handful of them.
I'm defending no uber rich people. I just doubt that many of the hyper wealthy actually rack up added debt for no good financial purpose.

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When we get back into power, we're coming for the wealthy. But, how do we define the "wealthy?" [View all] PeaceWave Yesterday OP

Start with average income vs median income.. I'm willing to negotiate from there ck4829 Yesterday #1

Progressive or graduated taxes Cirsium Yesterday #2

I think the problem is that the "wealth" of the ultra wealthy Bettie 20 hrs ago #23

I Need To See Data... ProfessorGAC 5 hrs ago #38

Tax the wealthy like you want to drown them in a bathtub. bucolic_frolic Yesterday #3

Using Grover Norquist's words against him? I like it. Might I also suggest... PeaceWave 21 hrs ago #21

I don't think that's a difficult question Bluetus Yesterday #4

I'm a big fan of a wealth tax... WarGamer Yesterday #9

Maybe... The Revolution 23 hrs ago #15

10m wealth... that's a lot of house and assets. and 0.3% on 10m wealth is just 30k tax WarGamer 23 hrs ago #17

The people with $10M of net worth are not the problem in our society Bluetus 18 hrs ago #25

Wealth Tax isn't punishment lol... WarGamer 18 hrs ago #30

We should set a high bar. I agree with you. Bluetus 18 hrs ago #32

I have no problems with billionaires... they just need to pay up! WarGamer 14 hrs ago #34

I don't have envy of those who work hard and are successful because of it Bluetus 6 hrs ago #37

We'll know that when we finish. -misanthroptimist Yesterday #5

Start at the top income...work your way down... ret5hd Yesterday #6

How is it defined when giving out TAX CUTS?! leftstreet Yesterday #7

$400k was the last dividing line... WarGamer Yesterday #8

In income, not net worth. NutmegYankee Yesterday #10

For the wealth tax... I'll start taxing families and individuals at $10M WarGamer Yesterday #11

And, what happens when that $10 million is wrapped up in a farm that feeds the whole community? PeaceWave 23 hrs ago #16

I'm only referring to personal wealth... the farm should be an LLC WarGamer 23 hrs ago #18

These are the kind of exceptions that created the wealth disparity in the first place. PeaceWave 23 hrs ago #19

Every billionaire will suddenly put all their money into an LLC tinrobot 20 hrs ago #24

I think something can be worked out for family farms which was the example. WarGamer 18 hrs ago #31

And what if Superman was a Nazi? dpibel 18 hrs ago #33

Top down, and I'll let you know when we get there. Iggo 23 hrs ago #12

How was it done under Eisenhower? thucythucy 23 hrs ago #13

I'm thinking you need to include any income asset or investment, haele 23 hrs ago #14

This message was self-deleted by its author. demmiblue 23 hrs ago #20

"...taxing of inherited wealth in excess of $1 million." IMO, stupid. flvegan 20 hrs ago #22

Agreed ... That's too low a number. Personal story JT45242 18 hrs ago #28

First off, thank you for your public service. Second, your story is exactly why I wrote what I did. PeaceWave 18 hrs ago #29

Varies by kind of tax... JT45242 18 hrs ago #26

How many... ZDU 18 hrs ago #27

I am a TSP Millionaire DenaliDemocrat 11 hrs ago #35

Bill Clinton taxed the wealthy. Maybe see how he did that and Nixie 9 hrs ago #36