ilmscore | Prediction Details
"Option number two is he can refinance out of his Tesla stock. He can use debt against the value of his Tesla stock and uses debt to pay for his lifestyle because debt isn't taxable. [...] So if you go to the bank and you say, 'Hey bank, I have a business worth $10 million. would you be willing to loan me $1 million? Most banks, assuming you go to the right one, are going to say yes. So now you go to the bank and you take out a $1 million loan because the bank wants to give you money because they see the value of your business. And if you don't pay a loan, well, now the bank will get a $10 to $20 million business. So most banks want this deal because if you fail, they're going to win big time. So this is why banks would be willing to loan you $1 million. Now you have a million dollars in your pocket taxfree because now if you were to go and refinance your home that refinance the debt that you get that isn't taxable. Debt isn't taxable. So you're just pulling cash out taxfree with debt. And now you have a million dollars to spend."
By Minority Mindset | March 3, 2024 | Pending
From video
MASTERCLASS: The SECRET To Never Be Broke Again 01:01:51 - 01:03:32
Interpreted Prediction
Wealthy individuals can use debt against their business or assets to finance their lifestyle tax-free, as loans are not considered taxable income.

Prediction Details

Topic
Debt for Lifestyle Financing

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