I want to ask a billionare to borrow 5 million dollars

[SLCentral]

And put it in an ING account. 5% interest componded yearly would make ~1.4 million after 5 years. After taxes, you could take home a good million dollars. I'm sure a billionare wouldn't notice this interest gone .

 

[KLin]

You'd pay ~40% gift tax on that 5 million. 2 million gone to the IRS.

 

[Juno]

go ahead and ask donald trump...i'm pretty sure he'll pound you in the...

 

[mugs]

Originally posted by: KLin
You'd pay ~40% gift tax on that 5 million. 2 million gone to the IRS.

The gifter pays the gift tax. And it's not a gift, it's a loan. I think the lack of interest on the loan would be considered a gift though.

 

[novasatori]

how about you just ask him for 1.4 million

 

[dighn]

Originally posted by: novasatori
how about you just ask him for 1.4 million

yeah really. having him give up 5 years of interest is equivalent to just taking the money.

 

[Mr Incognito]

Lol, why not ask for a loan for a business idea. Much more likely to succeed.

 

[novasatori]

Originally posted by: dighn

Originally posted by: novasatori
how about you just ask him for 1.4 million

yeah really. having him give up 5 years of interest is equivalent to just taking the money.

not only that, but his rates would probably be well over 5% if not well over 10%

so not only would he be giving up 5m to you for 5yr of interest, but op would probably be getting less than half the rate the billionaire gets in return...

 

[SoundTheSurrender]

Have the billionaire give you a swedish account so you can tell the IRS to fuck off.

 

[CraKaJaX]

Originally posted by: SoundTheSurrender
Have the billionaire give you a swedish account so you can tell the IRS to fuck off.

:thumbsup:

 

[needalife]

How about become a woman and marry the billionaire...

 

[DrPizza]

Why would you ask him to borrow 5 million dollars? And, who is he going to borrow it from? Or do you want to ask him to lend you 5 million dollars?

 

[bonkers325]

Originally posted by: needalife
How about become a woman and marry the billionaire...

that WOULD be cheaper...

 

[Epic Fail]

I am sure billionaires amassed their fortunes by giving out interest free loans to strangers. :roll:

100% sure.