Rebirth 79: I opened a bank in the United States

Chapter 322 Stock Mortgage
"Forget it, forget it, don't sell the stock. Take it as a mortgage! Use the stock as a mortgage, and take the loan!"

Seeing that Carter was determined to go to China to distribute coins, Goodman, who knew that he could not persuade him, did not persuade him anymore, and instead made up his mind.

"When are you going to leave?"

"I'm not sure, I have to wait for the notification. After all, Mr. Carter has a special status, and China needs to be prepared. However, your words reminded me. I almost forgot that I can mortgage stocks for loans."

Carter is not unfamiliar with mortgage stock loans, but he is not familiar with them either.To put it simply, the reason why they are no strangers is that almost one of the big bosses of listed companies in the future will count as one, and the real money spent will basically come from loans.

The reason is simple: tax avoidance!

As mentioned earlier, due to the independent nature of the company and shareholders of inc company.Once major shareholders get profits through stock dividends, well, pay taxes!
Before 1986, the United States still enjoyed preferential policies for long-term capital gains tax.The actual tax amount is less than 28%, usually only about 26%. Compared with the high tax rate of 39%-46% for ordinary income, capital gains tax is not very high.Don’t forget that the company’s ordinary income can also reduce the tax payable by means of increasing maintenance costs and expenses, but if the company pays dividends
Do you have a personal yarn cost?Does it cost money to breathe air? !

Assuming a dividend of one million yuan, 26 of which has to be paid in taxes, and only less than 74 are received, which major shareholder can stand it?The higher the market capitalization of a major shareholder of a listed company, the easier it is not to eat dividends from the stock.At the same time, the annual salary is low to facilitate the avoidance of personal income tax.

So at first glance, the annual salary cannot be high, and the stocks cannot be profitable.Then these bigwigs who are worth billions, do they eat corned buns every day?Of course not!
Since you can't take out the stock to make a profit, then don't take it at all.As long as the value of the stock does not fall and is recognized by the market, then you can use these valuable stocks to mortgage the bank and borrow them for your own use!
Compared with the annual income from dividends, the high taxes that need to be paid, and the interest expenses on bank loans, it really shouldn't be too little!Especially in the United States, the credibility of some large listed companies can be extremely high, such as Wal-Mart
In its heyday, Wal-Mart’s lending rate was comparable to that of U.S. treasury bonds, with medium and long-term interest rates of around 2% often appearing.

And this was the situation before 1986. After the U.S. abolished the preferential provisions of Section 1986 of the Federal Tax Code on long-term capital gains tax in 1202, the cost of eating stock dividends will rise further.Therefore, in the future, almost one company will count as one company, and all major shareholders of listed companies will do this!

Carter is no stranger because of this, but he is stranger.
Naturally, it’s because I haven’t done it before, and I can’t experience the happy operation of the rich
"In this way, I can bring more money to invest in China?! Hehehe!"

Compared with directly selling the shares you hold, the mortgage is the mortgage. As long as you repay the interest, the stock ownership is still your own.The repayment of the principal, even if there is pressure, can be temporarily resolved through revolving loans.

Originally, Carter was thinking about selling his own stocks for one or two million US dollars in cash. Thinking about it this way. If HT's financing can be accelerated and the pace of listing can be accelerated, then...
Ten million is a bit exaggerated, and eight million is a bit difficult, but five or six million dollars in cash should not be a problem!

However, before considering the financing of HT
"By the way, Goodman, there's something I need to discuss with you. It's about the credit card. Last night."

After finishing what he had seen and heard at the Aurora restaurant last night, Carter talked about his thoughts on how to deal with it, and then asked Goodman for his opinion:

"Do you think the credit card business should be carried out effectively, should we start with the merchants first, or get the customers first?"

"This issue is a bit complicated. According to you, there are only two ways for merchants to solve it: one is to deal with large merchants in other places and improve the quality of our credit cards so as to attract more high-quality customers; the other is to deal with small merchants and provide services Petty citizens are the so-called small profits but quick turnover.”

"If you take the second route, the cost of contracting merchants is relatively low, but the cost of acquiring customers is relatively high, and only a small amount can be released in one review. If you want to make a profit, the cost of card issuance review and risk control will increase significantly. And The effective referral rate of such customers is generally not high.”

"That's right, the first way is that channel fees are expensive! Not only do merchants need to advance funds and receive courtesy at the beginning of the contract, but they also need to go through the channel of the intermediary bank in the later settlement, paying an additional fee or even several fees. And the efficiency of customer expansion , will be slower."

Following Goodman's words, Carter pondered and talked about his thoughts in order to give Goodman a reference:
"I originally thought that our current revenue demand is not urgent, so we can slowly build a high-end credit card brand by taking the first path, so as to improve the overall grade of the bank in the future, and further facilitate the absorption of large deposit certificates. But if we go this way , Maybe we are local, no, it should be said that in all the areas that our banking business can reach now, there are not many customers who can meet the standards. It means that if we want to maintain the brand value, we have to lose a lot of money in the early stage.”

"If I didn't go to Plains today, I wouldn't get this opportunity to go to China. I might choose this path, but now, I'm a little unsure. I'm a little worried that the capital turnover rate is too poor, because there is too much waste in this aspect. funds."

"Well, what about the high-end customers? Just don't set your sights too high at the beginning. At the beginning, we will issue cards to small and medium-sized business owners, as well as gold-collar workers, and take customers with an annual income of more than 1.5 US dollars as our first goal."

Touching the beard on his lips, Goodman had a flash of inspiration:
"Such a group of people yearn for a better quality of life, but their own income sometimes encounters occasional difficulties when faced with luxury consumption. I actually think that they are our real target customers."

"Big bosses often don't just need credit cards. A better consumer experience is what they are after, but even without this card, they can still enjoy privileges when they go to familiar stores. But these middle-income groups people are different.”

"On the one hand, they have the pursuit of higher-level enjoyment; on the other hand, their own strength does not allow them to fully enjoy the honor and courtesy like the real rich. You said at this time, we issue a card, as long as you hold With our cards, no matter how much money they actually have in their pockets, they can enjoy the treatment of millionaires or even multi-millionaires, which is attractive."

(End of this chapter)