No, you just borrow against yet more stock. You need never sell any, much less pay yourself any significant income, provided you have enough stock. Since you don't sell the stock, you need not pay capital gains taxes. Since you have no real taxable income, you need not pay much in income taxes either.
and i don't see anything wrong with that at all.
It seems, recently at least, that a lot of people believe they're somehow entitled to the wealth that these high networth individuals have managed to accumulate.
Read my comments on that post. I never said there was anything wrong with that.
IMO we should stop double taxing dividend income.
> a lot of people believe they're somehow entitled to the wealth that
Do not count me among those.
None of that matters. What matters, is if interests paid is more than taxes paid. Which at some point it will be. And at some point both loans and interests will be paid in full. Because its secured by stocks. And assuming there is no other assets, it'll be stocks sold and capital gain taxes paid.
Unless the argument here is that lender will be fleeced due to borrower's death. Which, if correct assumption, is fucked up.