<Also, you cannot pay for your wedding or food by indifinate debt (and even if you did, via your credit card, the interest on unpaid credit card after a few years will be unbearable).>
When I was talking about debt, I was talking about more subtle forms than usury credit card lines of credit. You can agree to loan me food, clothes, cars, etc. and I agree to loan you equity in the company. This wouldn't be recorded as income for either of us. Eventually, with honest accounting, the debt is resolved at my death (because the loans of food, cash and other consumables would not be repaid) but it could be 50 years before any tax is collected from me.
Also, if you float debt at the current Fed Rate today, you can float that for quite a while for quite a while until it hurts, especially if you have inflation rates of 9% per year in the housing, commodity and international currencies markets and interest is below that. You probably are well aware of the secret inflation being hidden from the taxpayer by the U.S. Government right now. It's so bad the black market Chinese currency traders who used to give tourists better exchange rates than the official rate don't even want greenbacks now. |
