Imagine being taxed on momey you never receive
Where are you supposed to come up with the money to guve the govt?
I have an idea
Lets give every American a waiver on something - then tax it
They receive no money but they receive a benefit from that money and would have to pay out of pocket otherwise.
I have one grandchild in grad school and 2 soon to follow.
There are currently many instances where people are taxed on income when they never see the money. Example: You owe $200,000 on a home mortgage and can’t pay it. The bank forcloses on the loan and sells the home at auction for $100,000. You will owe taxes on the $100,000 balance on the loan.