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comment by kleinbl00
kleinbl00  ·  78 days ago  ·  link  ·    ·  parent  ·  post: The billionaires are angry

What's to stop the ultra-wealthy from taking out 40% more loans? The whole problem is the assets are used to secure credit - the credit secured is only nominally tied to the underlying assets, as any cursory examination of Deutsche Bank or Goldman Sachs' balance sheets will show.

Taxing the loan is effectively taxing the bank, who will respond by passing along the costs to their least capitalized members. Sunrise, sunset.