Why wouldn’t debt forgiveness be taxable income?

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Why wouldn’t debt forgiveness be taxable income?

Author: Curly1918 (15448 Posts - Joined: Aug 30, 2017)

Posted at 6:59 pm on Aug 17, 2022

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That way we would get a little of the largess back.

This message has been edited 1 time(s).

Replies to: "Why wouldn’t debt forgiveness be taxable income?"

Should we just forgive everyone their debts of all kinds? E.Warren says that would reduce inflation. - NedoftheHill - 6:38pm 8/17/22 (14) [View All]
- I agree. I don't like this suggestion at all. - Chris94 - 7:59pm 8/17/22
  - many big businesses have that backstop, too, which gets us in lots of trouble. Bailouts - for peopl - WestCoastIrishFan - 9:01pm 8/17/22
- Lets not get into what they did for the mortgage industry providing bailouts when there was a whole - Protagonist - 7:14pm 8/17/22
- Actually it would increase inflation. It’s the same as giving people cash equal to the forgiven loan - LanceManion - 7:05pm 8/17/22
- Why wouldn’t debt forgiveness be taxable income? - Curly1918 - 6:59pm 8/17/22
  - It typically is. There’s a special provision exempting student loans. Complete BS. [NT] - LanceManion - 7:05pm 8/17/22
- She wants to make everything free for everyone - Fisher01 - 6:56pm 8/17/22
  - Ayn Rand was well before her time. [NT] - WestCoastIrishFan - 7:56pm 8/17/22
    - So too, Orwell and Huxley. None of them nailed it 100%...but they got so many basics right. [NT] - NedoftheHill - 8:31pm 8/17/22
      - it's actually eerie how accurate their writings are becoming. Lots of moochers here. [NT] - WestCoastIrishFan - 9:00pm 8/17/22
  - Everything is free except speech. [NT] - Irishize - 7:23pm 8/17/22
- It doesn't bother me that much that I payed off my college debt. - iairishcheeks - 6:53pm 8/17/22
- Not necessary. Just forgive the debts of those likely to vote Democrat [NT] - Curly1918 - 6:49pm 8/17/22
  - Heh. That does seem to be the goal. [NT] - NedoftheHill - 8:20pm 8/17/22