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The “Buy, Borrow, Die” strategy is a fascinating and controversial method that the ultra-wealthy use to minimize their tax liabilities. This three-step approach has gained attention in recent years as discussions around wealth inequality and tax fairness have become more prominent. Here’s an in-depth look at how this strategy works, its implications, and the ethical considerations it raises.
Most people think it’s nice to be rich because you can buy whatever you want and eat whatever you want. Want to eat a thawed mammoth? It can be arranged. Want to fly around in a working jet pack or jetski in Shaq’s backyard? That’s possible, too. Want the city to shut down an entire interstate for you and your friends to drive 200 mph on public roads? Done.
But that isn’t really what’s so great about being rich. I could eat a $2 meal in Bangkok, and it would be delicious. There’s no need to eat those $400 meals at Michelin-starred restaurants.
