Professor of Astronomy and Astrophysics at Penn State.
Son, father, partner, scientist, teacher, student, human, Earthling.
Mostly posting astronomy. Mostly.
Jason Wright
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More here on how to never lose!
It’s not just evil billionaires that use these tricks, it’s a perfectly legal and wise thing to for anyone beyond a certain level of wealth. This is a good reason to expand wealth taxes beyond just property assets to cover anything that can be used to collateralize a loan.
This is also why the federal budget deficit scolds and budget balancers are wrong. The US government can get loans at an extremely low interest rate, and the return on investment of federal spending can be huge. It is foolish and irresponsible for the government not to use this to public advantage!
