Many affluent executing this strat (loans against appreciated property) are seeing the other (bad) side of this.

If you borrowed against tesla stock 18 months ago you likely saw your rate on the loan increase from 5 to 12%. At 12% you need 2-4 years of borrowing to be better off paying the tax.

Now imagine you took a loan instead of paying tax, and the value of the stock goes down. Your cost of interest > cost of tax.

This type of Tax games rarely pay. Irs wants people to do things like this because it encourages risk taking which encourages asset price increases.

Ultra wealthy dont use this strat. Its a red herring for the plebs.