u/DrizzyX99

Ok so there’s a lot of talk about how billionaires escape taxes by borrowing against their stock, but it is my understanding that they would still have to pay back those loans from the bank and to do that they would need to sell there shares (or come up with the money somehow) when they sell the shares don’t they pay capital gains on the sale…

I seam to remember a couple years ago Elon saying he’s paid the most taxes of all time by an individual and from the cnbc interview with Jeff bezos, he said when he was initially funding blue origin he sold Amazon stock and paid capital gains on the sale

I’ve never understood the loan loophole thing and I would appreciate it if someone explained it to me

Edit: I’m not trying to defend any of these billionaires, they deffo need to pay more in taxes