Buy, Borrow & Die
The WealthAbility Show with Tom Wheelwright, CPA
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The New Tax Law Soups Up Your Buy Borrow Die
The new tax law with the bonus depreciation, especially just kind of soups up your buy borrow die. For most Americans, taxes are pretty simple. There's a big divide between wealth and wages. But on the wealth side, on the asset side, it really does come down to buy borrow die that's why Warren Buffett pays almost no tax. That's why President Trump in many years pays no tax. They're playing buy borrow die and the basics of buy borrow die are very simple. Buy assets, borrow against the unrealized appreciation and die. It just happens.
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