this post was submitted on 20 Jul 2023
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Yeah that's my thinking. Gotta define what cash from loans is taxable.
What I mean by paying tax on paying it back: you had to earn that money, typically from income, which is taxed. So if you had to pay tax on your original loan you would get taxed twice.
But yeah, as long as it's well-defined, might be a good choice.
I'm sure the billionaires will line the correct pockets to get out of it in any country, though :(