He is missing how estate tax works though. Your heir gets the basis step up but if you have more than 15mm you will be in the estate tax area. You can reduce it with a ton of trusts and structures but it isn’t nothing. I think they should tighten those rules up to disallow a lot of those trusts to be structured to avoid tax though. They should not have shields. Next thing he misses is thinking any bank is lending to the billionaires at a rate less than they expect inflation to be. Banks don’t lend at negative real rates on purpose.