My mortgage was many times my yearly income.
So then you just have frequency, which is easily gamed by getting fewer larger loans. Maybe one every three to five years? At that point it really is just a mortgage with stock as collateral rather than a house.
Like, you're not wrong in your intuition that the system is problematic. Mine (and others) point is that the devil is in the details, and they're not trivial.
The problem isn't that i "don't understand the gap". The problem is that this isn't what I'm asking.
How do you define for the purposes of this hypothetical law which loans would be taxed as income?
Telling me how rich Bezos is is completely tangential.
I've been trying to use the Socratic method to prime the pump that
-The root of the problem isn't the loans themselves, it's that they can "realize value" from shares (using them to secure a loan) without selling them.
But that doesn't seem to have gotten anywhere because of how excited people are to hear any question to be somehow a doubting of how rich these guys are?
If that is the case, and you step back, can you consider an alternative strategy besides just some messy spaghetti definition of "income loans" vs other loans?