早就扫盲多少遍了。。

股票不套现，

需要用钱的时候，拿这些股票进行抵押贷款，

不但不用交income tax，利息还能抵税

我不是巨富我不知道啊。。

比如说抵押贷款，如果直接让银行充公一部分抵押资产，这时候需要交capital gain tax吗？

而且理论上，只要股票资产价格够高，这部分贷款可以一直无限延期下去吧？

这都什么乱七八糟的。。

股价跌了会自动触发强行平仓机制啊

所以先还再借的意义是啥？？

对银行来说承担的风险并没啥区别

你要不要算算全美前25富，过去5年里财富增加了多少，这13.6B的所得税只占多大比例？？

IRS是SB，美国税法存在大量loophole，这不是常识吗？

川粉为了洗地，竟然连这种常识都要挑战？？

Buy-Borrow-Die这都已经讨论多少年了，你是完全不接触金融，所以完全没半点基本概念？

Say you own a successful business—so successful that your stake in it is worth $1bn. How should you fund your spending? If you pay yourself a wage of $20m a year, the federal government will collect 37%, or some $7.4m. So perhaps you should take a salary of $1 and sell $20m-worth of shares. If these were gifted to you upon founding the firm, the entire sum represents capital gains and will be taxed at 20%, which would mean a $4m hit. What if, instead, you called up your wealth manager and agreed to put up $100m-worth of equity as collateral for a $20m loan. In 2021 the interest rate on the loan might have been just 2% a year, meaning that returns from holding the equity, rather than selling it, would easily have covered the cost of servicing the borrowing. Because the proceeds of loans, which must be eventually repaid, are not considered income, doing so would have incurred no tax liability at all.

The strategy is even more compelling once the “stepped-up basis” is considered. When the holder of an asset dies, the value for capital-gains assessments is “stepped up” from its purchase cost to its value at the time of death. In this way, “buy, borrow, die” does not simply defer capital-gains taxes—it can eliminate them entirely. Nothing is paid on gains made between the original purchase of an asset and the value at the death of the original holder.

At Morgan Stanley and Bank of America (BoA), both of which run large wealth-management businesses, the total value of securities-backed loans to clients leapt from around $80bn in 2018 to almost $150bn in 2022.

Banks are more than happy to make such loans. As lending tends to be collateralised by securities that can be easily seized and sold, it is treated as low-risk by regulators.

https://www.economist.com/finance-and-economics/2024/06/20/americas-rich-never-sell-their-assets-how-should-they-be-taxed

1）抵押的是highly liquid 股票，为啥不能自动平仓？？

2）这里说的就是富人缴税只占了他们财富增长的一小部分，因为他们以各种方式避免 realize the gain

所以才要提这个所谓的unrealized gain capital tax

3）这个钱早就被人赚了。。。

MS 和 BoA，仅仅两家银行这方面的股票抵押贷款业务就有1500亿美元，足够有钱人开销了

你是不是看不懂英文？

我有10万亿的财富，但我每年吃喝玩乐只要1亿，那么自然只需要股票质押贷款1亿即可

所以这1000多亿，纯粹就是富人抵押套出来开销的资金而已，又不是财富总额

这点都没搞懂，扯毛啊。。

啥？抵押的股票在股价下跌的时候不能强制清仓？谁说的？

抵押品价格贬值的时候，谁管你到期不到期？

你要么拿出更多的抵押品，要么直接还钱，俗称强制清仓

我记得你老公以前搞金融的，你可以问问他呀。。

这里说的是股票质押贷款，你听到过Margin Call吗？