How to tax billionaires—and how not to

August 11, 2024

https://www.economist.com/leaders/2024/06/19/how-to-tax-billionaires-and-how-not-to
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One of these manoeuvres in America is to buy assets, offer these as collateral for loans and roll over the loans until their death. At that point any capital gains accrued over the owner’s lifetime are zeroed out and the clock starts anew for their heirs, who then themselves “buy, borrow and die”, as this (perfectly legal) device is known.
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