Fans of Best of the Web Today--Michael Smith"If Bernie forgave all student debt, it creates an immediate tax liability - because cancelled debt is considered income by the IRS.
Can you imagine the liberal tears when, after celebrating that their $150K loan was forgiven, they find out that they now owe the IRS $30K in cash by the end of the year?"
1 comment:
What a bad day, when a cosigner finds they have a new tax liability.
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