[whatshisface]

You can get a loan from a bank against your assets and spend only the loan. I think that's how it goes to zero.

>So it's in theory possible that someone could make millions tax free from selling a business, but that's a rare case and one the tax code explicitly allows for.

These guys have whole offices working to figure out how their day to day expenses can be converted into stuff like "selling a business." ;-)

[jeffreyrogers]

There have been a few proposals to close that loophole. The main reason it exists is because debt isn't counted as income since it has to be repaid.

[whatshisface]

Yes, even if it never is. But you have to realize that these proposals to close loopholes are massive tax increases, not technicalities.