Jesse Isinger

No. Wrong. Why? You're so naive. I am. Yeah.

No. Wrong. Why? You're so naive. I am. Yeah.

Yeah. So you basically borrow at almost no cost. Yeah. Because they know that the stock is there and they can call it at any time. Yeah. And you essentially never really have to pay it back. The estate's going to pay it back when you die.

Yeah. So you basically borrow at almost no cost. Yeah. Because they know that the stock is there and they can call it at any time. Yeah. And you essentially never really have to pay it back. The estate's going to pay it back when you die.

Yeah. So you basically borrow at almost no cost. Yeah. Because they know that the stock is there and they can call it at any time. Yeah. And you essentially never really have to pay it back. The estate's going to pay it back when you die.

He's got a lot of debt and they were a little worried about it at some point. The reason we know this is that his lawyers forced him to disclose it in the SEC filings. That's why we also know about Larry Ellison. So you can't see everybody's borrowing. So you don't know how much Jeff Bezos is actually borrowing, if he's borrowing at all.

He's got a lot of debt and they were a little worried about it at some point. The reason we know this is that his lawyers forced him to disclose it in the SEC filings. That's why we also know about Larry Ellison. So you can't see everybody's borrowing. So you don't know how much Jeff Bezos is actually borrowing, if he's borrowing at all.

He's got a lot of debt and they were a little worried about it at some point. The reason we know this is that his lawyers forced him to disclose it in the SEC filings. That's why we also know about Larry Ellison. So you can't see everybody's borrowing. So you don't know how much Jeff Bezos is actually borrowing, if he's borrowing at all.

But this is an extremely common technique for ultra wealthy people.

But this is an extremely common technique for ultra wealthy people.

But this is an extremely common technique for ultra wealthy people.

It's a religious tenet among tax accountants and lawyers that you cannot tax unrealized gains.

It's a religious tenet among tax accountants and lawyers that you cannot tax unrealized gains.

It's a religious tenet among tax accountants and lawyers that you cannot tax unrealized gains.

In tax circles, this is as spicy as you get.

In tax circles, this is as spicy as you get.

In tax circles, this is as spicy as you get.

People responded to us by saying, you idiots, we don't tax unrealized gains in this country. And we had to say, you know, I responded to 150 emails from readers saying, yeah, that's the point of the article, is that we have a choice about what to tax, and we're not taxing this, and that's why billionaires are able to live outside of our tax systems.

People responded to us by saying, you idiots, we don't tax unrealized gains in this country. And we had to say, you know, I responded to 150 emails from readers saying, yeah, that's the point of the article, is that we have a choice about what to tax, and we're not taxing this, and that's why billionaires are able to live outside of our tax systems.

People responded to us by saying, you idiots, we don't tax unrealized gains in this country. And we had to say, you know, I responded to 150 emails from readers saying, yeah, that's the point of the article, is that we have a choice about what to tax, and we're not taxing this, and that's why billionaires are able to live outside of our tax systems.