I'm not an expert, but I don't believe debt reduces your net worth. Irresponsibl... | Hacker News

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redthrowaway on Jan 30, 2011 | parent | context | favorite | on: Scott Adams: How to Tax the Rich

I'm not an expert, but I don't believe debt reduces your net worth. Irresponsible use of that debt does, but if I borrow $250k to buy a house, the value of that house offsets the debt. It's a wash in the end, is it not?

hugh3 on Jan 30, 2011 [–]

Well obviously the grandparent should be read as "If my net wealth decreases over a year then should the fine give me money?"

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