Posted on 11/13/2025 2:16:57 PM PST by fwdude
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Poetic justice for us who went without for DECADES to pay off student loans. I put off buying my first home until I was 47 because I wanted to be debt free when I applied for a mortgage.
Isn’t it income and you have to pay taxes on it
Indeed, forgiven debt is income. It’s no different than handing them money. Lots of it.
Sorry but how did they “earn” this?
Sue the Unis for Fraud.
Let me see if I understand this...
The gimmecrats bi+ched that they couldn’t afford loans because they couldn’t earn enough money (after 4 years of freeloading) to pay the debt. Then the loan debit is wiped out, which means they were given free money and now they’re bi+ching that they have to pay the taxes for the tens of thousands they got as gifts (isn’t the gift tax capped at ~$14k/year?).
Is that about right?
Are these idiots just waking up to the fact that forgiveness of indebtedness is picked up in income? LOL. Welcome to the real world.
We can fix this problem easily. How about no student loan forgiveness. Just who decides who gets forgiven and who does not. Why should one person have an unfair advantage over some one else. Those who paid off their loans and those who are currently paying them off get to pay for others forgiveness as well.
So, $14K in gift tax per year, x4 equals $56K, plus penalties and interest for all of those years...I guess the $70K figure in the headline could be correct.
It's clear they don't want to be held accountable in any way, shape or form for not repaying what they owe to America's taxpayers.
There's a name for this behavior: It's called "theft" (which, based on the amount many owe, would be "felony theft".)
The $14k you mentioned is now up to $19k. It is the amount one person can give to one other as a real gift (like between relatives or friends) without reporting it to the IRS. Any more starts counting against the lifetime estate exemption of the giver (now about $14 million). But even if above $19k it would still be untaxed.
If you don’t want to pay for it, don’t sign up for it. Even an idiot understands this.
Wait. I thought everything was going to be given to me for freeeeeee! 😭
—”It’s clear they don’t want to be held accountable in any way, shape or form for not repaying what they owe to America’s taxpayers.”
“The man who murdered his parents, and then pleaded for mercy on the grounds that he was an orphan.”
Abraham Lincoln
Evil. But not wrong.
Which is partly why I am against Income Tax.
It messes things up in so many ways.
“It’s not a gift if someone lent you money and then forgave it because they couldn’t collect on it. “
It is if it is a personal loan.
It is not if it is a commercial loan.
https://www.google.com/search?q=debt+forgiveness+versus+gift
Not a gift ...
What if the interest was struck, just give me the money given to you and a $10,000 loan fee, Then collect it all.
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