Focus on one of the main mechanisms used to avoid taxes by pretending income doesn’t exist.
. As ProPublica notes, many of the massively wealthy get loans, using their wealth as collateral. The average person might wonder why they would borrow with enough money to buy virtually anything they like. That’s because the rich have a different approach.
Instead, the wealthy borrow. They know there is a big difference in paying the lowest rates available for borrowed money—even now likely well under 2% because they are such good risks—and the top end of taxes. There is also the growth in value of their investments that exceeds the cost of borrowing, so they want to keep the assets.
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