[thethimble]

Borrowing against illiquid assets should be considered a taxable event. Seems like this would entirely fix the loophole.

[ch4s3]

So every small business loan should be a taxable event?

[dzhiurgis]

You pay taxes when you are paying off your loan...

[xjm]

Only if you pay it off with taxable income.

If you have a lot of assets you can just refinance your loan with more debt.

[tenuousemphasis]

Really? What taxes?