@PFuentes74@ThePudyTat@fuckyouiquit I think we’re just missing each other on the core concepts here, so I’ll make this my last comment. Basically, his stock gains value way faster than the loan interest builds up. He can live off bank cash forever without ever selling his shares or triggering a single tax.
@PFuentes74@ThePudyTat@fuckyouiquit True, a loan is a liability, but for him it replaces his salary. By living off bank loans using his stock as collateral, his official income stays at zero. Because he never has to sell the shares to get cash, he completely bypasses capital gains tax and the stock stays untaxed.
@ThePudyTat@fuckyouiquit You are correct in a way, but everyone who has massive quantities of money have hired people to manage their money, so they pay as little tax as possible. Twitter's text limit kind limits me from explaining this but here a good video https://t.co/1ZWEoAbFsT
@fuckyouiquit I thought this was fake, but the basic calculation checks out. Obvs it doesn't include saving that money or compound interest but yes 30,0000 years x 365 days x $10,000 = $1,095,000,000,000 (one trillion, 95 billion) Which is under Elon's current worth by 100 billion
@thatdayin1992 The people saying this isn't capitalism do realize slavery is still happening today. So many companies use forced labor to get recourses. (Chocolate industry) of course they would to reduce costs because capitalism lol.
Doing some quick calculations using a low estimate of 100 ships a day Strait of Hormuz and let's say Iran only gets 800,000 of the 2 mil after splitting it and perhaps dealing with other things, that's still roughly 29 billion a year. So about 8% of their gdp
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