Or, well, I guess "securities-backed" goes a bit further down the ladder than I thought, but the act does have both wealth and income thresholds common to the buy-borrow-die strategy before the tax triggers. $100 million net worth and an otherwise lower effective tax rate on true income

This particular loophole for the wealthy — taking out loans on their wealth, which they live on, then directing returns toward loan payments so they're never taxed — is an old one that I'm pretty sure involves some very specific vehicles. Closing it presumably targets the vehicle or the collateral 🤞

As Napoleon famously said, "An Army marches on the salaries of its contractors."

My goto is to ask LLMs how many states have R in their name. They always fail. GPT 5 included Indiana, Illinois, and Texas in its list. It then asked me if I wanted an alphabetical highlighted map. Sure, why not.

ChatGPT, how many State names would Scooby pronounce with an 'r'?