26 Aug 2022 12:22 pm
Actually, it's a tax INCREASE for everyone who has debt forgiven. You claim to be very intelligent and informed, don't you know debt that is forgiven is taxable income for the person given the relief? They are in for a surprise the next time the file a tax return and have to declare that income that did not have taxes withheld because the loan documents (and yes, I have read them as my daughter took out a student loan) do not contain a provision that excludes them from income if the debt is forgiven in this manner. The forgiveness must be for work performed in certain areas by selected professionals.Blackvegetable » 26 Aug 2022, 11:54 am » wrote: ↑ Really?
When the Hucksters for whom you vote either promptly vaporize any surplus or multiply the existing deficit, you reward them with your fealty. And for that they deliver **** macro economic results.
Think of this as a narrowly targeted tax cut. If economic theory holds, this should divert income from those with a low marginal propensity to consume, to those with a higher one.